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The Economic Challenges Created By Covid-19

  • 6 months ago | Food & Beverage

    COVID-19 Impact on Plant Based Meat in Food and Beverages IndustryGlobally, countries are expecting drastic economic decline in low- and middle-income countries due to loss of income, shutdown of businesses, human and goods movement restrictions imposed by governments, de-globalization, and breakdown of food markets to both demand shocks and supply constraints. This disease has a variable impact in different countries depending on their cultural norms, mitigation efforts, and health infrastructure, and each country is working its way out to fight against the pandemic. The outbreak of the COVID-19 pandemic has impacted all industries, including the plant based meat market. The plant based meat market is subjected to a positive and negative impact due to the sudden outbreak of the COVID-19 pandemic. Amidst the lockdown, the market has witnessed moderate volume growth and earnings due to a rising use of plant based meat in the food and beverage industry and the pharmaceutical industry. The COVID-19 crisis provides significant growth opportunities for the plant based meat market. Presence have also contributed to the development of global plant based meat market at a global level. However, the disrupted supply chain for plant based meat materials is due to the shutdown of boundaries and strict lockdowns imposed by the government to control the spread of the virus.AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVES TO BOOST THE GLOBAL PLANT BASED MEAT MARKETThe pandemic of COVID-19 created a demand for plant based meat due to e-commerce platforms and increasing number of online food delivery aggregators. Due to COVID-19 outbreak, many consumers avoid visits to retail stores due to the imposition of lockdowns in light of the current situation of growing omicron cases.After the COVID-19 outbreak, the adoption of vegan diets is growing due to rising health awareness, which will directly increases the global plant based meat marketFor instance,According to Vegan Society in 2021 alone the Vegan Society registered an impressive 16,439 products with the Vegan TrademarkMcKinsey’s survey of 2020 found almost 70% of respondents are willing to spend more time and money to purchase safer and eco-friendly products, while almost 60% are more inclined towards healthily eating practices after the crisis.The growing obese population is one of the main reasons for the increasing consumption of plant based meat. After the COVID-19 outbreak, consumers are more conscious of the type of food they are consuming and are simultaneously taking the necessary steps to cut down on the unnecessary intake of fat and high-calorie food products in their regular diet.For instance,According to WHO (World Health Organization), in 2021, more than 650 million adults aged more than 18 years were overweightThe government is also tackling these COVID-19 times to support the plant base meat market.  Some countries' governments relaxed regulatory requirements placed on alternative proteins, mainly for plant-based protein products.For instance,The FDA has relaxed its guidelines for selling plant-based meat products in the market. Earlier, the FDA did not allow direct-to-consumer sales of impossible raw plant-based meat burgers due to labeling concerns.Therefore, in the post-COVID-19 period, the demand for plant based meat will increase moderately due to its increasing vegan and obese population.STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHAREPlant based meat market is gaining popularity across various industrial sectors all over the globe. Since the lockdown due to COVID-19, the plant based meat manufacturers are required to follow a series of mandates and procedures to battle the crisis and keep a healthy workspace environment. To combat the current situation and gain a competitive market share, the manufacturers are offering attractive packages. Various marketing strategies are being adopted by the key manufacturers of the market, such as product innovation, regional expansion, and new product development to sustain the competitive market and meet the changing consumer trends. Adoption of such strategic marketing policies by various competitors will help to them to gain competitive market share in the post COVID-19 era.For instance,In December 2021, ITC has launched plant-based burger patties and nuggets which mimic the taste of chicken and are the two largest non-vegetarian frozen food categoriesIn November 2021, Redefine Meat an Israel-based company has launched world's first whole cuts of plant-based meat.In October 2020, Impossible Foods Inc. expanded its presence by introducing its flagship product, Impossible Burger, in the Canadian market. The company has made its product available in about 600 Sobeys family stores and on the retailer’s online grocery home delivery service. This will enable the company to expand its retail footprint in the market.In September 2020, Beyond Meat rolled out its new product, Beyond Meatballs, which will start being available in the grocery stores across the U.S. This product will fulfill the consumer demand for nutritious and easy-to-prepare products made from plant-based ingredients.IMPACT ON PRICE The COVID-19 has impacted the global economy growth terribly. Many organizations remained shut while others scaled down their operations or put their expansion plans on hold as they survived the unpredictable crisis. The outbreak of the COVID-19 pandemic resulted in nationwide lockdowns, and various stringent regulations on border closing were imposed by the government of nations across the globe, which resulted in the spike in the prices of plant based meat. Import and export of raw materials were hampered due to the closing of the border of various nations. This resulted in an increase in the prices in countries that were dependent on the imports of plant based meat. At the same time, the price in the major plant based meat exporter countries had fallen owing to the larger production than the demand. However, the ease of lockdown and various initiatives by the government to export and import plant based meat resulted in the subsequent price drop owing to its availability. The price impact on the plant based meat market was relatively dependent on specific commodities.IMPACT ON DEMANDThe COVID-19 has resulted in a surge of plant based meat demand post pandemic. The plant based meat demand is increasing with growing awareness among consumers about the health benefits of veganism. The demand for vegetarian foods that are high in fiber, vitamin C, and iron, and contain low processed saturated fats is on the rise in the U.S. In addition, the round-the-clock efforts of manufacturers to create a product with a longer shelf life, better texture & aroma, and better nutritious profiles.Rising awareness about the health benefits offered by plant-based meat over animal meat. As plant-based meat contains lower levels of saturated fat, cholesterol, and calories than animal-based meat. They often contain higher levels of micronutrients, such as zinc, iron, and calcium. The plant-based trend continues to grow during COVID times and encouraging people to eat more fruits, vegetables, legumes, nuts, and seeds. Also, there are various health benefits associated with plant-based products, about which consumers are getting more aware recently.Also, excessive consumption of animal-based meat may result in diet-related diseases such as obesity, type-2 diabetes, heart disease, and certain cancers is one of the main reason for growing demand of plant based meat. As the consumption of plant-based meat does not give rise to such diseases. Moreover, they aid in building better immunity. The nutritional benefits of plant-based meats and their safety compared with conventional meat are also contributing to gain the attention of consumers.IMPACT ON SUPPLY CHAINThe COVID-19 pandemic has highly disrupted the supply chain of raw materials used to manufacture plant based meat. During COVID-19, the food system experienced significant shifts, including interruptions to supplies of key inputs, limited access to production spaces, and disruption to the distribution of products. It was attributed to the lack of resources and transportation, which led to lower access, delayed stock, and supplies of raw materials products. In addition, many governments restricted the movement of goods across the countries, and the entire supply chain was distorted. Due to the disrupted supply chain, transportation of raw materials has been interrupted, stalling production. Similarly, inflated prices and halt on production of plant based meat have resulted in the unmet demand for plant based meat.  The new variant of COVID-19 ‘Omicron’ is spreading fast across the world, which has again prompted governments around the globe to reimpose travel restrictions which will gradually disturb the supply chain again.For Instance,In January 2022, the World Health Organization (WHO) has said more than half of Europe’s population will get infected with the Omicron coronavirus variant within the next six to eight weeksIn January 2022, the United States (US) is facing the steepest COVID-19 surge of the pandemic. The country is recording close to 700,000 new infections every day, the highest so far. Eight Americans are testing positive per second, and at this rate the country is likely to cross the one million new cases daily mark soonIn January 2022, According to Indian Express the Indian Covid numbers are: Delhi (19,166), Mumbai (13,648 cases), Bengaluru (9,221 cases), Kolkata (5,556 cases), Chennai (6,190 cases)In December 2021, United Nations’ health agency stated that Omicron has been reported in 89 countriesIn December 2021, UK Health Security Agency said on Twitter there had been an additional 12,133 confirmed cases of Omicron over the previous 24 hours, taking the total number of confirmed cases to 37,101CONCLUSIONCOVID- 19 pandemic has taken a toll on the population and economy. Increasing vegan population across the globe is expected to increase the demand for plant based meat during the COVID-19 pandemic. The COVID-19 pandemic is having a strong impact on various facets of the plant based meat industry. Governments in hard-hit countries have imposed nationwide lockdowns and travel restrictions to avoid further virus infection, creating several barriers across the supply chain in the plant based meat market. As such, market players are chalking out innovative strategies to address this uncertain period. The growing consciousness for animal rights through various welfare organizations continues to push the consumption of plant based meat.

  • 6 months ago | Chemical and Materials

    COVID-19 Impact on Long-Chain Polyamide in Chemicals and Materials IndustryANALYSIS ON IMPACT OF COVID-19 ON THE Global Long-chain Polyamide MarketLong-chain polyamides have a wide range of applications due to their properties such as excellent chemical, fatigue and crack resistance, and dimensional stability. They are also efficient in withstanding aggressive chemicals and extremely high temperatures. Owing to their superior and favorable properties, they are aggressively used in the production of components such as rollers, pulleys, conveyor systems, hoses and tubes connectors, and filaments.Increasing demand for long-chain polyamides by the electrical and electronics industry in across the globe is fueling up the market growth. Rising application is various industries and areas such as automotive sector for long-chain polyamide as well as growth and expansion of various end user industries will also positively impact the market. Favourable regulations regarding the application of long-chain polyamide, surging demand for lightweight materials in the automotive and transportation industry, growing focus on the technological advancements and modernization in the production techniques will further shape the way for the growth of the market.The outbreak of the COVID-19 pandemic has adversely affected the global demand and supply of long-chain polyamides. Disruption in global shipping and logistics networks caused an acute shortage of key raw materials in the market and thereby creating volatility in the price of raw materials. Moreover, key suppliers of raw materials, including Evonik Industries, Solvay, Ashland, Petro China Company Limited, and Sumitomo Chemical Co., Ltd had to shut down their factories as per government guidelines, which further impacted the market in terms of raw material, which disturbed the whole global long-chain polyamide market.For instance,In March 2020, Evonik Industries closed its manufacturing plants temporarily. The closing of raw material production capacities created a huge demand-supply imbalance in the marketAFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE Global Long-chain Polyamide MarketWidely used petrochemical-derived polymers have a negative impact on the environment and climate, so the use of bio-based material should become widespread due to growing interest in sustainability and environmental issues such as climate change. The use of renewable and biodegradable raw materials improves the carbon footprint and has a positive impact on the life-cycle of plastic products. Therefore, governments across various nations are focusing on the development of polyamides from renewable resources. In addition, the government is supporting local manufacturers with loans and financial support to kick start their production sites again, as they have incurred large losses during the pandemic. Moreover, government initiatives to support and intensify the automotive, electrical, and aviation industry will have a positive outlook towards the demand for long-chain polyamide, which will boost the growth of the global long-chain polyamide market.STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARESome of the prominent players in this market are DuPont, Evonik Industries AG, BASF SE, Arkema, DSM, and EMS-CHEMIE HOLDING AG. They have a strong global presence with a wide distribution network, as well as large production capacities. These companies are continuously focusing on strengthening their global presence and market share by adopting and undertaking various initiative strategies.Numerous research activities are being conducted to explore the wide scale production of long-chain polyamides from bio-based raw materials. Castor oil is one key instance of bio-based raw material being used for the development and production of long-chain polyamides is castor oil. However, lower yields and labor-intensive production processes are major factors limiting the wide-scale adoption of castor oil in the long-chain polyamides production process. Some other developments by major players have resulted in their increased efficiency in production and gaining popularity in the global market.For instance,In June 2021, Ascend Performance Materials expanded its production capacity for HiDura long-chain polyamides in its Greenwood, S.C., plant. This is a multi-million dollar expansion, which will help the company meet the growing demand for its new product lineIn November 2020, Ascend added new products to its long-chain polyamide range named HiDura PA610 and 612. These products are used in a variety of consumer goods, industrial, renewable energy, automotive, and electric vehicle applications.In November 2020, Sculpteo, a subsidiary of BASF SE launched four new bio-sourced 3D printing materials based on Nylon PA11. The new materials, namely Ultrasint PA11, Ultrasint PA11 ESD, Ultrasint PA11 CF, and PA11 MJF are derived from renewable castor oil and exhibit high chemical resistance, elongation, and durability propertiesIn February 2019, Evonik Industries launched a new polyamide powder for 3D printing applications in a high-temperature range. This product features high mechanical strength, excellent chemical and temperature resistance for use in the fast-growing 3D printing marketIMPACT ON PRICEThe global long-chain polyamide market has witnessed intensive price volatility in the products and raw materials as industrial production of long-chain polyamide products and raw materials have been put on hold or were running at lowered capacities owing to the restrictions imposed o curb the spread of the pandemic. Manufacturers in the long-chain polyamide market have faced various challenges such as shortage of raw materials, availability of labor, and disruptions in transportation operations of finished products to other industries and end users. All these factors have largely influenced the price of long-chain polyamide products. The key raw materials used in the production of polyamide are Hexamethylenediamine, Adipic acid, and Caprolactam, among others. These are majorly derived from crude oil, which has been under high price fluctuations. Due to the continuous price fluctuations and the environmental concerns associated with crude oil-derived products, the price of long-chain polyamide products has been greatly affected. In addition, the shortage of products has driven prices too high.IMPACT ON DEMANDThe COVID-19 pandemic has a negative impact on the long-chain polyamide industry. The adverse economic environment led to major job losses and pay cuts across the world and thereby affecting the demand for consumer electronics and automotive vehicles. Thus, the major long-chain polyamide manufacturers had to cut down their production outputs due to a drastic decline in demand from key industries, including automotive and industrial goods, which were the major users of long-chain polyamide products. Lockdown and movement restrictions had a direct and immediate effect on the demand and supply of these products, and once the restrictions ease, the market is expected to gain back its fast-growing pace in very short time and the demand is expected to increase again.IMPACT ON SUPPLY CHAINThe COVID-19 pandemic has adversely affected the supply chain operations of many businesses, with imposed lockdown policies affecting the movement of people and business operations such as transportation of goods and shortage of labor in production units and logistics chain. Moreover, most of the countries restricted border movements due to fast-spreading COVID-19 disease. This negatively affected the volume of exports and imports, which reduced significantly as retailers in both online and offline distribution channels found it challenging to deliver their products to the consumers and other industries.CONCLUSIONThis COVID-19 pandemic had a profound effect on the global long chain polyamide market. Demand for long-chain polyamide from the electrical and electronics industry and automotive industry saw a downward trend. Moreover, the demand was accompanied by disruptions in supply chain operations and shortage in raw materials owing to the lockdown and volatility in their prices. However, an increase in the sales of long-chain polyamide is expected in the future owing to their benefits in many end-uses and applications such as cable harnesses, lamp holders, fuel supply systems like quick-action couplings, fuel filter housings, and fuel lines; in engine compartments such as inlet pipe and intake manifold oil sensors, and many others. The market is expected to gain its pre-COVID position as the restriction ease up slowly and demand and supply witness a positive trend.

  • 6 months ago | Food & Beverage

    Analysis on Impact of COVID-19 on Global Protein Hydrolysates MarketThe COVID-19 pandemic has significantly impacted the global protein hydrolysates market. The demand for protein hydrolysate products declined across various end-use markets as major activities were on hold. Consumers were conscious of their expenses due to loss of jobs and income constraints. Moreover, the competitive order of manufacturers has also witnessed a change. However, rising awareness about protein diet due to the spread of COVID-19 to boost immunity and surge in plant-based and animal-based protein hydrolysates in the sports industry is expected to boost the market. Also, the rising trend of protein hydrolysate products by athletes in sports is expected to foster the market. In addition, these products offer many benefits, such as easy digestibility for infant nutrition, which will influence the growth of the protein hydrolysates market in the post-crisis. Moreover, the aftermath of the pandemic will positively affect the global protein hydrolysates market, as the demand for protein hydrolysates is expected to increase to boost immune health to fight viral diseases.Food & beverages is one of the major industries suffering serious upheaval, such as supply chain disruption and shutdowns of manufacturing units amid the COVID-19 outbreak, which has hampered the global protein hydrolysates market. The U.S. is a significant manufacturer and consumer of protein hydrolysate. However, the lockdown of various plants and factories in the country has affected the global supply chains, thereby hampering the manufacturing, delivery schedules, and sales of protein-based products globally. In 2020, various companies have announced possible delays in product deliveries and projected slumps in their future sales due to disruptions in production and supply chain operations and management.Aftermath of COVID-19 and Government Initiative to Boost Global Protein Hydrolysates MarketGovernments of various nations have extended their support with financial and regulatory initiatives to boost the protein hydrolysates market in their respective countries. Many governments and legislative bodies of European countries such as the U.K. have set up regulations that set general compositional and labelling rules for food categories, including protein hydrolysates for infant food formulas.For instance,In February 2021, an amendment in (EU) 2016/127 Regulation sets specific compositional and labeling requirements for infant formula and follow-on formula (IFFOF). According to this regulation, use of protein hydrolysates as a source of protein in infant formula and follow-on formula has been allowed, and its use in the manufacturing of formula is widespread in the regional market. The amendment further states that the infant and follow-on formula manufactured from protein hydrolysates will be regulated by Commission Directive 2006/141/EC.Moreover, the Chinese government is also making efforts to balance out the consumption of plant and animal protein-based protein hydrolysates, which is also widening growth prospects for protein hydrolysates manufacturers across the country as China is one of the largest producers of protein hydrolysates in the global market.In addition, different countries have developed various regulatory frameworks to protect consumers from risks and make them aware of the misleading and false claims of the protein hydrolysates. This step is taken to ensure satisfaction to the consumers, which will promote their sales if the product gets accepted and approved by the government of the respective regions. Scientific substantiation of the safety and efficacy of protein hydrolysates is an important aspect that can significantly impact the approval of health claims of bioactive peptides for market release. For regulatory approvals, the data from in-vitro and animal studies are not adequate to claim their health benefits. Health claims of hydrolyzed protein products must also be supported by substantial evidence from human studies. Various governments take this step to ensure consumers’ safety and satisfaction for protein hydrolyzed products, as these products derived from various food protein sources such as milk, whey, fish, and soybean have been on the market in several countries.Strategic Decisions for Manufacturers After COVID-19 To Gain Competitive Market SharePeople are increasingly becoming concerned and conscious about their health and shifting towards adopting protein-rich diets, which is expected to boost the demand for protein hydrolysates. Key players in this market are improving the quality of these proteins and launching more fortified and advanced products, likely to fuel the demand for their products.For instance,In September 2020, Arla Foods Ingredients’ launched a novel protein hydrolysate Lacprodan HYDRO.PowerPro from 100.0% whey. This protein hydrolysate is 50.0% less bitter than products manufactured using the same hydrolysis process (21.0%-27.0%).In addition, many companies have undertaken unique promotion strategies, partnerships and acquisitions for sales and distribution, and technological up-gradations, which are expected to drive the demand for protein hydrolysates in the global market.For instance,In February 2020, Kerry, an ingredients company in Ireland, announced the acquisition of Pevesa Biotech, dealing in organic and non-allergenic plant protein ingredients intended for infants, along with clinical and general nutrition.In March 2018, Fonterra entered a partnership with high growth active nutrients start-up Food spring. The new partnership enables Fonterra to tap into the rapidly growing active nutrients consumer segment, valued at USD 200.00 billion globally.In April 2017, BRF Ingredients came into a strategic partnership with NAN Group, a Vietnamese supplier of animal nutrition ingredients. This partnership combines the advantages of BRF’s ample raw material sources and technical expertise in producing poultry protein hydrolysates with the sales and marketing capabilities of NAN Group.The players operating in the market have undertaken several strategies related to the marketFor instance,In October 2020, Arla Foods Ingredients launched a new product named ‘Lacprodan BLG-100’, a pure BLG ingredient with a unique nutritional profile. This is produced using a patented new separation technology, and it contains 45% more leucine – the main muscle-building amino acid – than commercially available whey protein isolates.In addition, rapid penetration of modern technology and social media has fostered the purchase of various products, including sports nutrition and infant formula, through online shopping sites in different regions. Substantial increases in online sales of these products is likely to create lucrative opportunities for key players in the global protein hydrolysates market.Price ImpactThe global protein hydrolysates market has witnessed intensive price volatility in the products as industrial production of hydrolyzed protein has been put on hold or running at low production capacity in many countries due to the pandemic. Manufacturers in the hydrolyzed protein market face various challenges such as shortage of raw materials, availability of labor, and disruptions in transportation of finished products. All these factors have influenced mainly the price of hydrolyzed protein products. This shortage of products and halt in production drove the prices a bit high during the pandemic era.Impact On DemandThe COVID-19 pandemic is having a significant impact on the protein hydrolysate industry. Demand for the product has suffered across various end-use markets such as in sports and infant nutrition, worldwide supply chains were upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has led the global protein ingredients market into an oversupply situation. Lockdown and movement restrictions have had a direct and immediate effect on the demand and supply of these products, and once the crisis comes to an end, the market is expected to gain back its fast-growing pace in a very short time.Impact on Supply ChainThe COVID-19 has adversely affected the supply chain operations of many businesses, with lockdown policies affecting the movement of people and business operations such as transportation of goods and shortage of labor in production units and logistics chain. Since most countries restricted border movements due to fast-spreading COVID-19 disease, the volume of exports and imports reduced significantly due to which retailers in both online and offline distribution channels have found it challenging to deliver their products to the consumers. In addition, due to supply chain disruptions, end-users of hydrolyzed protein are also facing issues, and there is a need to balance out the supply and demand soon, which is expected to bring the prices of protein hydrolysates back to the normal range.ConclusionThis COVID-19 pandemic has profoundly affected the global protein hydrolysates market. The global market for nutritional food products is growing in response to the demand for building immunity after the slowdown of the crisis of the pandemic. However, disruptions in the supply chain operations and low spending on expensive nutritional products, including protein hydrolysates, led to the stalling of the market growth during the COVID-19. However, a marked increase in global sales of a protein hydrolysate is anticipated to grow due to its benefits in many end-uses, such as fulfilling the nutrition requirements in sports-related uses and infant nutrition.

  • 6 months ago | Food & Beverage

    COVID-19 Impact on Pea Protein in Food and Beverages IndustryThe COVID-19 pandemic has influenced the whole planet with its major impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. The COVID-19 has been declared as a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown, such as India, China, and other Asian countries, to decrease its spread. According to the situation report of 5th October 2021, WHO stated that around 235.1 million COVID-19 cases had been reported globally, and 4.8 million patients died due to the coronavirus.The COVID-19 pandemic has affected the global pea protein market significantly. The persistence of COVID-19 has affected the supply and demand chain as it got disrupted due to the non-availability of ingredients such as pea and other plant protein ingredientsIMPACT ON THE DEMAND OF PEA PROTEIN MARKETThe consumers' demand increased for overall health and wellness products during the COVID-19 outbreak. The consumers' demand for pea protein products will grow rapidly beyond the historical base. The sale of pea protein products has significantly increased amidst the outbreak of the COVID-19 pandemic.According to a survey conducted by the association of plant-based food, the U.S. retail plant-based foods sale was 35% higher than total retail food amid the panic buying period around March and April of 2020.The pandemic has considerably transformed consumer buying patterns. People across the globe are demanding and buying plant protein supplements due to their healthier and safer properties compared to animal-based products. Therefore, the growing consumers' preference surrounding food safety amidst the pandemic is expected to boost the demand for pea protein products in the upcoming years.For instance,In 2020, Nestlé launched Yes! Protein bars in the U.K. & Ireland in two different flavors as almond, peanut, and double dark chocolate and cashew, blueberry, and dark chocolate powdered with nuts and peas, and each bar contains 10g of plant proteinThe COVID-19 provided a substantial increase in the popularity of pea protein products, which proved to be beneficial for all manufacturers in the global pea protein market.IMPACT ON THE PRICE OF GLOBAL PEA PROTEIN MARKETThe price of pea proteins is costly due to the technology involved in extracting protein from plants and processing it. The COVID-19 has a negative impact on the price of pea proteins due to the disruption in the import and export of raw materials, restrictions imposed by the governments, restricted movements, shut down of stores, and less availability of workers. All these factors lead to the rise in the price of pea protein products globally.IMPACT ON THE SUPPLY CHAIN OF THE GLOBAL PEA PROTEIN MARKETThe COVID-19 crisis has majorly affected the pea protein market and its supply chain across the world. Due to the persistence of the COVID-19, lockdown restrictions were implied worldwide, which disturbed the supply chain of pea protein products and their ingredients. Because of restrictions in the movements, it was hard for the manufacturers to collect raw materials such as pea other plant-derived materials, which has, in turn, affected the manufacturing of the pea proteins. Also, the restriction movement hit the supply of global manufacturers such as Wilmar international, ADM, Cargill Inc., Kerry group, and Ingredion Incorporated. During the COVID-19 outbreak, restriction movement across the countries made it hard for them to supply their products in the global market.Also, the restriction movement hit the supply of global manufacturers, which made it difficult for them to supply their products in the global market. With the COVID-19 outbreak, the demand for pea proteins was initially decreased due to lack of awareness, change in consumer's preference, restriction on the trading process, and loss of labor due to movement restrictions.STRATEGIC INITIATIVES BY MANUFACTURERS With the increased demand for healthy essential products, the manufacturers are taking new initiatives for pea protein products availability even during COVID-19 time. Greater awareness of how consuming plant ingredients can assist immune systems has helped many companies to gain market share. In addition, manufacturers partner with other companies to launch new technology or products, acquire them, or merge with them.With the growing demand for plant-based foods all over the globe, the manufacturers are launching various pea protein products.For instances,In December 2020, Ingredion launched its first-ever protein isolate named VITESSENCE Pulse 1803 pea protein to meet increasing consumer demand for protein-rich products in a broad range of on-trend categories.In December 2019, Cargill, Incorporated launched RadipureTM, a pea protein developed and manufactured in Asia, to support the ever-increasing Asian consumer market and demand for plant-based proteins.Moreover, with surging demand, key manufacturers are expanding their business and investing in the ongoing trend of plant protein to meet consumer demand.For instance,In November 2021, Roquette informed the opening of the world’s largest pea protein plant, further extending its leadership position to meet the surging global demand for pea proteins.In August 2019, Cargill Incorporated invested $75 million in Puris, the largest North American producer of pea protein. The investment will help Puris to double its pea protein production and will position the company to keep up with the ever-increasing demand for its category-leading pea proteinsThus, the increasing number of launches, business expansion, investment partnerships by manufacturers to develop products to fulfill the rising demand for pea proteins is expected to boost growth.CONCLUSIONPandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers can win the fight against COVID-19. Consumer awareness about high immunity has become a legitimate concern during these pandemic circumstances.Consumers are also shifting their buying presences from offline to online retails to maintain social distancing. Lockdown, mostly all over the world, has resulted in disruption in the supply and demand chain. All sectors, including pea proteins, have to suffer from various problems such as labor unavailability, inability to access markets, and lack of resources and raw material. However, the situation improves as the restrictions have been lifted in many countries, and the supply chain issues have been sorted out. Therefore, the pea protein market is supposed to grow significantly in the coming years due to the improved supply chain and consumer awareness about growing benefits from plant-based protein sources such as pea protein.

  • 6 months ago | Materials & Packaging

    COVID-19 Impact on Paper and Paperboard Packaging in Materials and Packaging IndustryANALYSIS on IMPACT OF COVID-19 ON GLOBAL PAPER AND PAPERBOARD PACKAGING MARKETManufacturers mostly utilize paperboard packaging boxes to preserve the nutritional content and freshness of their products. This market's worldwide trade will be driven by sophisticated and improved transportation infrastructure that allows items to be moved from one location to another without damage. External factors, such as air and temperature, do not affect the real operation of paper and paperboard, which is referred to as product packaging.However, the spread of COVID-19 is an unprecedented worldwide public health crisis that has impacted nearly every business, and its long-term consequences are expected to have an influence on industry growth throughout the projection period. COVID-19 has resulted in changes in consumer behaviour and demand, purchasing patterns, supply chain rerouting, current market dynamics, and substantial government engagement. Economic insecurity caused by the pandemic had also triggered the investors in both the public and private sectors to reconsider the investment decisions in terms of taking up new construction-based projects.AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST GLOBAL PAPER AND PAPERBOARD MARKETThe government had taken many steps to ensure the availability of raw materials by keeping track of the supply and demand of the intermediate goods for producing paper board packaging materials. Alongside, the government of various countries is also taking action such as providing subsidies for raw materials, supporting the domestic producers with short-term loans to assist SMEs (small and medium enterprises) and local manufacturers engaged in the production of paper and paperboard boxes and cartons.                                                                                                                                  For instance,The Government of India intends to construct green infrastructure for the e-commerce sector to balance environmental efficiency with energy conservation, fuelling the demand for paper and paperboard packaging materials                       STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHAREThe manufacturing sector of paper and paperboard materials was one of the most damaged sectors by COVID-19. Several steps were taken to increase international cooperation among the countries to promote investments and also to improve the ease of doing business inside the nations. Also, various relief measures were provided for the middle market and large businesses in the packaging industry. New and existing projects were given a kick start by inviting technological innovations supported by the government.                                                                                                                                                                                                                                                                  For instance,Rapid industrialization and urbanization in India, China, and other Asian nations, together with the adoption of smart and energy-efficient technologies used for packaging purposes, have a favourable impact on paper and paperboard market’s demandIMPACT ON PRICEThe worldwide paper and paperboard market is extremely fragmented, with several small and big competitors competing on price and quality, due to the spread of the COVID-19 pandemic, the demand for packaging materials had seen a severe downfall since May 2020, resulting in the fluctuation of the prices of raw materials used for making smart boxes and containers. The rise in prices of basic materials caused by the pandemic, as well as a scarcity of stock with wholesalers, had posed a problem for many small and large-scale projects, affecting the global paper and paperboard market.IMPACT ON DEMANDThe major sector of the packaging market is the food industry and e-commerce business as a major part of the demand for packaging boxes comes from these units. The restaurant and hotel sector was one of the sectors that suffered the burden of COVID-19. The demand for restaurant foods was likewise sluggish, as people were mainly prioritizing the health requirements over any other requirements. Furthermore, the emergence of remote-based work facilities had reduced the need for office buildings along with its canteen foods and hence affecting the global paper and paperboard market.IMPACT ON SUPPLY CHAINThe COVID-19 pandemic had put the contemporary global supply chain to the test like never before. The pandemic had a genuinely global impact, causing many fractures in numerous supply chains like component suppliers, production locations, and in the last mile to the end-users. The production process came to a pause due to the shortage of labourers in almost all the manufacturing sites. Due to a ban on interstate travel, the supply chain also suffered as a result of the emigration of migrant workers.  The shutdown of distribution and trade routes has affected the supply channel, resulting in the rise of the operating costs of raw materials. During that situation, all the manufacturers of paper board packaging materials were facing issues with the timely availability of raw materials.CONCLUSIONPaper and paperboard boxes are widely utilized in the food and e-commerce sector due to their numerous applications, varying from the packing of food and different goods in the container for transportation. The COVID-19 pandemic has caused substantial obstacles to global supply chains, due to a dip in restaurant activities, the demand for packaging materials has faced a sharp decline in several regions. The manufacturers suffered huge losses due to repeated nationwide curfews and shutdowns continue to hamper or even halt the movement of raw materials and completed goods. Manufacturing and distribution issues were likely the most visible disturbances to all types of packaging markets. However, the government of various countries has opted for various policies to strengthen international partnerships, diversification of suppliers, an innovation for reducing the need for certain resources, and circular economy techniques to boost economic activities of the entire world.

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