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Professional Cleaning Sector Faces Labor Shortages as Sustainability Increases in Importance

Professional Cleaning Sector Faces Labor Shortages as Sustainability Increases in Importance

Sales of floor care products have started to rebound in 2021 and 2022 after experiencing sharp declines in 2020. On the contrary, sales of hand care products came down slightly in 2021 and are expected to continue this path. Similar shifts occurred within specific end users. In general, healthcare facilities have seen increased demand for I&I cleaning products, particularly surface and hand care, which grew steadily from 2020 through 2022. However, the impact of high inflation and a looming recession continues putting pressure on cleaning contractors as potential customers look to save external costs and handle cleaning with the help of their own staff. 

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Home Fragrances Brighten Up Through an Inflationary Environment in 2022

Home Fragrances Brighten Up Through an Inflationary Environment in 2022

The market for home fragrances sustained its momentum in 2021 growing by a whopping 16%. For the first half of 2022, substantial growth continued in the face of inflation, product price increases, and supply chain issues, according to our recently published Home Fragrances: U.S. Market Brief. What is driving growth in this high opportunity market? A few of the key factors we observed are described below. 

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he emergence of independent stylists as a growth channel has opened the door for untapped revenue potential for salon hair care brands.

Salon Industry Transformation: Rise of Independent Stylists

The emergence of independent stylists as a growth channel has opened the door for untapped revenue potential for salon hair care brands. Globally, the number of hair salons has declined almost 5% from the 2019 levels. While the door count decreased, many of the previously salon-employed stylists decided to venture into opening independent hair-related servicesdriving their need to build their own inventory of products for service provision and consumer resale.  

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Sustainability: A New Opportunity for PAO

Sustainability: A New Opportunity for PAO

The global finished lubricants market has been going through a phase of uncertainty, with a multitude of factors hampering its growth outlook. Several years ago, some countries faced a sovereign debt crisis, which cast a shadow on the global economic environment. Thereafter, the outbreak of the COVID-19 pandemic forced the world into a recession. More recently, the emerging geopolitical situation has had a cascading effect on the global economy, leading to high inflation and interest rates, simultaneously creating an uncertain trade environment. All of these events invariably have impacted the demand for finished lubricants, contributing to the inherent changes that the lubricants and basestocks market had already been witnessing—a shift toward better-quality lubricants and the increasing use of high-performance basestocks, reducing the need for lubricants. Continue reading