The market for specialty paper is expected to grow at a CAGR of 6% during the forecast period of 2022 to 2030. Because specialty paper has superior qualities in terms of moisture retention, pH levels, and hygiene, it is frequently utilised in the food and beverage, lifestyle, and cosmetics industries as a component of packaging materials. In addition, increasing levels of discretionary spending have led to an increase in the demand for high-quality packaging material, which has contributed to the expansion of the industry.
The global market for smoking cessation and nicotine de-addiction products is expected to grow at a CAGR of 15% during the forecast period of 2022 to 2030. Stopping the use of tobacco is a component of kicking the habit of smoking or kicking a nicotine addiction. It is well known that tobacco contains nicotine, which is the addictive component responsible for the release of neurotransmitters including dopamine, gamma-aminobutyric acid (GABA), and glutamate.
The bottled water hydration market is expected to grow at a CAGR of 7.3% during the forecast period from 2022 to 2030, starting from US$ 196.3 Bn in 2021. The demand for bottled water is rising to a great extent throughout the globe. As per the International Bottled Water Association (IBWA), most of consumers in the U.S. prefer bottled water over other packaged drinks.
The global activated charcoal supplement market accounted for US$ 5.1 Bn in 2021 and expected to grow to US$ 12.5 Bn growing at a CAGR of 9.5% throughout the forecast period from 2022 to 2030. Activated charcoal supplement absorbents are tailor-made for precise applications on the basis of pore volume and pore size requirements. Activated charcoal supplement has a vital role in applications throughout the healthcare industry including treatment of diseases such as indigestion, diarrhea and flatulence among others.
In 2020, the global child resistant closures market was valued at US$ 1.81 Bn and expected to grow with a CAGR of 6.7% during the forecast period from 2019 to 2029. Child resistant closure market is growing due to worldwide increase in accidental drug intoxication cases among children below 5 years of age. To decrease these accidental cases government is taking initiatives to apply rules for child resistant packaging. For instance, in the U.S., the Poison Prevention Packaging Act (PPPA) listed some special products that should be packed with child resistant closures.
Globally, the paper cups market is expected to grow with a CAGR of 4.5% during the forecast period from 2022 to 2030, starting from US$ 9.64 Bn in 2021. The paper cups are extensively being used to serve various food and beverage products in the railways, malls, and others. These are the disposable cups that have a thin layer of wax or the compostable plastics that used to prevent the substance from leaking through the cup. The growing demand for compostable products is the key factor that drives the growth of paper cups market worldwide. Additionally, the emergence of quick-service restaurants across several developed and underdeveloped countries have augmented the growth of paper cups market.
The CBD oil market is expected to grow at a CAGR of 32.5% during the forecast period from 2022 to 2030, starting from US$ 1168.3 Mn in 2021. CBD oil-based products are gaining its popularity and consumers nowadays are becoming more inclined towards using CBD oil-based products for treating a number of health problems such as insomnia, chronic pain, anxiety, among others.
A notable rise in beverage consumption has been observed from past few years with a wide variety of beverages at the disposal of consumers. The trend of beverage consumption certainly encouraged sales of beverage dispensers allowing the market to register market value of over US$ 1 Bn.
Hemp oil refers to the oil obtained by pressing the seeds of hemp. Extracted oil mainly used in skin care products, although industrial hemp oil used in production of paints, lubricants, fuel and plastics. Presence of nutrients, essential fatty acids and antioxidants are perfect for skin; makes it ideal for healing and massage treatments.
The global cotton buds market is expected to grow at a CAGR of 12%. The change in lifestyle and hygiene products has significant growth over few decades. Cotton buds are small wad of cotton wool, thin stick, used for cosmetic purposes or cleaning the ears. The change in lifestyle, maintaining hygiene, increase in earnings and awareness of product are some of the key factors for increase in demands of cotton buds. Key application of this product is cleaning ear wax, crafts and arts, first aid, cosmetics applications and so on.