The global wax industry has experienced significant volatility recently, marked by abrupt shifts in supply and demand. The years 2020 to 2022 witnessed dramatic changes in wax supply, with petroleum wax suppliers exiting the market and synthetic wax suppliers expanding. This volatility has been further compounded by uneven demand in various applications due to uncertain global macroeconomic conditions. In this blog, we delve into the driving factors behind this turbulence, drawing insights from our recently published Global Industry Wax report.
China’s automotive lubricants market is currently undergoing a significant transformation, driven by an array of factors that are reshaping its dynamics:
After several years of disruption, the away-from-home hand care market is finally settling and some pandemic-induced changes are here to stay. The pandemic seems to have caused permanent shifts in the approach to hand care at industrial and institutional (I&I) facilities. For example, antibacterial hand soaps are witnessing a much higher demand compared to earlier, as are touch-free hand hygiene and paper dispensers. Many facilities’ managers are replacing air hand dryers—which blow germs into the air—with paper towels, and there is a preference for touch-free dispensers to limit germs and the spread of related diseases.
The 40th edition of MCB by Beauté Sélection—an annual, prestigious event—once again took center stage in Paris, the heart of the beauty universe. This rendezvous for beauty professionals encompassed all facets of the industry, from hairdressing to aesthetics, makeup, and nails. It featured international competitions, hair shows, masterclasses, and innovation awards, providing a platform for industry leaders to demonstrate their expertise.
The global nutraceuticals market has been steadily growing over the last decade, but the COVID-19 pandemic propelled it to new heights. While sales growth has recently stabilized, the market is expected to continue expanding significantly. The United States and Europe nutraceutical markets are valued at USD 163.0 billion and 90.0 billion, respectively, with high single-digit growth rates year-on-year, according to our just-published Excipients for Nutraceutical Oral Solid Dosage: United States and Europe report.
The professional pest management market in Latin America faces several challenges due to significant inflationary pressures and a sizeable gray market. Despite this, early findings from our research in Argentina and Brazil indicate that these markets are poised for robust growth over the next five years. What are the main drivers behind this increase?
The medical spa market is booming in the United States. These aesthetic skin care havens are outpacing the competition and experiencing double the revenue growth of the total medical-dispensed skin care channel. In fact, sales through medical spa outlets such as OVME and SkinSpirit are estimated to grow upwards of 40% in 2023, according to Kline’s new Multi-Site Skin Care and Wellness Destinations.
In the ever-evolving hair care market, the dynamic of hair bonding treatments is impossible to ignore. According to the Q1 2023 data from our Kline PRO: Salon Retail Products and Services Database, the hair bonding market accounts for a substantial 8.5% share of the total U.S. hair care market and it is a key growth area to watch.
From delivery services to stringent hygiene protocols to the online impact, restaurants have experienced significant changes since the pandemic wreaked havoc and upended the industry. Today’s restaurants need to be nimble as many are simultaneously managing a high volume of demanding take-out service while also offering exceptional service in clean, welcoming dining rooms to their dine-in clientele—all amid staff shortages and inflation.