Agriculture Crops & Forestry

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The global agricultural industry is crucial to addressing the world’s food demand through the value chain, especially as the global population continues to grow. The concerns for ecological and environmental impact have driven disruptive technologies which force agribusiness leaders to create sustainable innovations. Additionally, rising demands and limited land available for agriculture drive the trend to improve yields and productivity of existing crops. Some important components of the agricultural industry include fertilizers, biofuel and biomass, equipment, and machinery.

Forestry is the management, conservation, and restoration of forests and woodlands for human and environmental benefits. Forestry ranges from the timber supply, logging, fuelwood, wildlife habitat, erosion control, and many more applications. Most commercial use of forests requires the FSC (Forest Management Standard) to provide an assurance to customers and stakeholders of the quality of forest management. 

Cash crops are agricultural crops that are grown to sell for a profit on the market. Cash crops are sold directly for cash and can be divided into food and non-food commodities. Typically, they are purchased by third parties separate from farms and agricultural production. The prices for major crops are set in the commodity market. Some examples are coffee, cocoa, tea, sugarcane, cotton, and spices.

Food crops yield plants particularly cultivated for human and livestock consumption. The term food crop usually implies the domestic production of basic staples.  Food crops are integral to improving food security, mostly in developing countries. Some of the examples of food crops are legumes, fruits, vegetables, potatoes, wheat, and rice. 

Horticulture is the cultivation of plants including development, sustainable production, plant conservation, soil management, landscape recovery, and arboriculture. Horticulture can also be utilized to contribute to quality of life, sustainability, beauty, and restoration. Crops for horticulture range from perennial species, fruits, vegetables, decorative indoor ornamental plants, flowers, and landscape plants and trees. 

Challenges ahead in meeting global food supply demand and environmental concerns

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Automotive

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The automotive industry encompasses a wide range of organizations and companies dealing with the design, development, manufacturing, marketing, and sales of motor vehicles. Today’s economies in automotive are shifting significantly. This is stimulated by development in emerging markets, the accelerated rise of new technologies, sustainability policies, and changing consumer preferences around ownership. The market dynamic in the automotive industry has been driven mainly by digitization, automation trends, and emerging new business models. These drivers have disrupted the traditional automotive industry and the OEM companies to move forward with more technology, sustainability, and alternative mobility. There are major disruptions in the auto industry, namely electric vehicles, driverless mode, automated factories, and ride-hailing. 

Global sales of automotive are estimated to decline progressively this year. Apart from the disrupting trends that affect the auto industry, the COVID-19 crisis has impacted the companies significantly. The majority of European automotive-related companies had to put their workforces on short-term work during the shutdown. The global repercussions are monumental. Auto retail stores have remained closed for months due to government restrictions and many OEMs also suffered from profit decline. To navigate the crisis, automotive companies have to strategize by focusing on digital channels, changing to recurring revenue streams, optimizing assets, and building a sustainable supply chain. Top OEM players in the automotive sectors are General Motors, Audi, Volkswagen, BMW, Tesla, Honda, and Toyota. 

The passenger car market consists of passenger cars sales and car manufacturing OEM. Most of the time both functionalities are performed by the same company. The passenger car market is segmented into the hatchback, sedan, and utility vehicles. The global passenger car market is expected to grow mainly due to the companies rearranging their operations and recovering from the COVID-19 impact. The Asia-Pacific region was the largest region in the global passenger car market, accounting for almost half of the market in 2020. Western Europe was the second largest region for the market. The top regions that produce passenger cars are Greater China, Western Europe, Japan-Korea, and North America respectively.

Commercial vehicles come in all sizes and shapes to offer solutions to a variety of transportation functions. Commercial vehicles can be segmented into two separate functions: public and commercial. Vehicles in the public transportation segment may include busses, trains, and trams. Commercial vehicles may include delivery vans, trucks, and tractors. Recently, there are a few trends for OEMs that drive growth in the future of this sector: raising the global standard for efficiency, quality, technological leadership (including EV), and environmental awareness. The COVID-19 pandemic, however, has led to declining sales because of low industrial activities and public restrictions. 

Remodeling the auto industry to become more sustainable

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Biotechnology and Life Sciences

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The life sciences industry studies living organisms and life processes such as humans, animals, plants, and micro-organisms. Biotechnology is the biggest sector within life sciences. Biotechnology is used to create and develop different products in different industries such as healthcare, agriculture, food production, and many more. 

Biological breakthroughs and advances in gene sequencing allowed faster discovery in the field, especially in identifying coronavirus sequences. The growth in the biopharma industry and greater accessibility to advanced research techniques have allowed for many players, from private and public to academic to enter the industry. The biotechnology and life sciences industry is expected to grow and reach a market size worth $2.44 Trillion by 2028. The biggest players in the industry include Johnson & Johnson, Roche, Pfizer, Novartis, Amgen, Sanofi, AbbVie, GlaxoSmithKline, and Bayer.

Immunology is the study of the immune system and is a vital branch of the medical and biological sciences. The immune system is a set of lines of defense against infection. The study also extends to the research of diseases, autoimmunity, allergy, and cancer.

Medical devices are instruments used by scientists in the life sciences industry. Such devices include common well-known surgical instruments, artificial joints, and imaging machines. Innovations in bioinformatics, genomics, and nanotechnology also drive the medical devices sector forward.

The COVID-19 pandemic highlights importance of biotechnology and life sciences industry

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Chemical & Plastic Products

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The chemical industry includes industrials, chemicals, and producers. The chemical and plastic industries are industries that overlap as some chemical companies also produce plastics. Chemicals manufacturers produce different types of chemicals from raw materials such as oil, gas, air, water, metal, and minerals. The most common end products produced include polymers and plastics (e.g. polyethylene, polyvinyl chloride, polycarbonate, and polypropylene). These manufactured outputs are being used and distributed among different sectors such as agriculture, pharmaceutical, construction, and service industries.

There is a growth rate decline in the demand for chemical products. Major trends such as the accelerating deglobalization, COVID-19 pandemic, and potential regulation to curb climate change account for the potential hurdles in the industry. The industry is worth about $3.7 trillion in 2021, the chemical industry is expected to grow to $4.3 trillion in 2025. The biggest chemical producers include BASF, SINOPEC, DOW, SABIC, INEOS, and Formosa.

Commodity chemicals, also called bulk chemicals, are chemicals produced in bulk to be distributed to the global market. Those chemical are then used to produce other chemicals or end-user products.

The chemical industry produces chemical products to supply the pharmaceutical industry. Chemicals are then used in the production of drug substances and other pharmaceutical products to be consumed by patients.

Chemical products such as fertilizers, pesticides, and other chemical-based agricultural products are included in the agrochemical sector.  Agrochemicals are used in agriculture to enhance quality and ensure the safety of food production. 

Chemicals produced by chemical companies are being used to manufacture a wide range of consumer products. Such products include soap, cosmetics, detergents, cleaners, and many more. 

The chemical and plastic industry is getting more complex

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Construction & Infrastructure

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The Construction and Infrastructure industry is the backbone of the economy. There is an increasing trend of more people living in urban cities and areas, particularly in developing countries. The trend drives the expansion of construction and infrastructure ranging from residential and non-residentials to public sectors. 

From homeowners to government-funded projects, the industry has a wide range of segments that are managed by engineers, project managers, and consultants. Project control management is crucial to deliver in every phase to ensure cost and time efficiency and productivity. Performance and market growth on construction and infrastructure vary depending on the countries’ commitment and capability to invest in long-term projects. 

Residential construction is the business of building and selling individual and multi-family residences. Generally, developers and building firms construct residential buildings, but in many countries, government or local authorities give planning permission and govern construction method regulations. The global market for the residential building construction industry is one of the largest segments in the industry. The leading industry players globally are Country Garden Holdings, DR Horton, Lennar Corp, Pulte Group, and China State Construction Engineering Corporation.

Non-residential buildings typically are large infrastructure projects which comprise industrial buildings, commercial buildings, educational buildings, healthcare buildings, and other buildings. Hence, non-residential buildings cover factories, hospitals, schools, office buildings, hotels, shopping malls, restaurants, airport buildings, warehouses, and many more. Some key players in the non-residential building construction market are Clark Construction Group, Turner Construction, Whiting-Turner Contracting, Balfour Beatty, and China State Engineering Corporation.  The global non-residential building construction market is anticipated to grow at a compound annual growth rate (CAGR) of 12% from $2.4 trillion in 2020 to $2.7 trillion in 2021. The growth is predominantly due to both state and private sectors reorganizing their operations and recovering from the COVID-19 impact.

Public constructions are related to the construction, maintenance, rehabilitation, alteration, extension, demolition, or any improvements on land by public bodies. Public construction consists of preparatory works (excavation, demolition, drainage, or fencing), construction works (carpentry, flooring, tiling, or plumbing), installations (electrical wiring, heating, ventilation, or drainage), and civil works (roads, bridges, sewers, pipelines, aqueducts, or railways).

Construction and Infrastructure are building for the future generations to come

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Consumer Electronics

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Consumer electronics are part of the consumer product sector which are electronic equipment intended for personal or everyday use. The consumer electronics market gains profit through the sales of the product. Additionally, there is an increasing demand for these electronics to be digitally compatible and connected with the internet or other devices. The global consumer electronics market is fragmented with big companies holding dominant shares. 

The change in consumer preference to convenience has led many personal computers companies to alter their strategy from producing PCs to laptops. Advanced technology in the computer industry has led to increased competition among the industry players. In order to gain more market share, competitors may deploy an efficient supply chain, frequent release of unique products, aggressive marketing campaigns, or efficient manufacturing channels. The growth of the laptop industry is credited to various success strategies and implementations executed by industry players. The laptop industry itself is driven by a number of factors, namely growing global internet use, rising disposable income, the emergence of novel technologies, and cross-functional connectedness. 

Domestic or home appliances are machines that assist in household functions and tasks. The segment is a multi-billion dollar industry and is forecasted to grow further in the future. The sector growth is mainly impacted by consumer lifestyle, income distribution, and social and demographic trends. Convenience and ease of use are the main drivers for consumers. The leading multinational players in the sectors are Panasonic, LG, Samsung, Sony, Voltas, AB Electrolux, and BSH home appliances.

The vision of smart homes has been circulated in the past few years without much initial growth. The early adopters experienced some pain points causing a laggard in the market. Many consumers may still not fully comprehend connected device value propositions which caused early doubts in the mainstream market. Technological advances may also need to be explored in developing smart home devices to create valuable propositions for consumers. Currently, consumer preference for connected homes is mainly influenced by price, energy-saving potential, reliability, and ease of use. The market still has a ways to go before it reaches its full potential. Connected devices are disrupting every corner of the home, among others are home intelligence, energy efficiency, entertainment, access control and security, and general connectivity. 

The consumer electronics industry is moving towards digital transformation increasing growth

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Consumer Services

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Consumer service refers to a direct interaction between a consumer making a purchase and a representative selling the products or services. Direct interaction is traditionally a critical factor in customer satisfaction and loyalty. The consumer service industry normally requires specific professional or vocational skills to perform the service for consumers. The Industry is mainly dominated by SMEs (small and medium-sized enterprises) or freelancers in their fields. In some sectors of the industry, the gig economy is dominating due to digital transformation opening up new opportunities and business models. 

The beauty treatment and hairdressing industry has grown over the past years, just before the coronavirus pandemic hit, which significantly disrupted operations. Government-imposed closures of non-essential establishments, including hairdressers and beauty salons, has affected the business in the sector. Since the industry business model involves physical interactions between two parties COVID-19 has hit hard. Apart from the pandemic, the demand for the industry is mainly influenced by the economic climate. The rise in disposable income has encouraged fashion and beauty-conscious consumers to spend more on hair and beauty treatments.

The repair services cover broad fields catering to consumers getting something fixed or restored, such examples are electronics repair, mechanics, plumbing, house renovation, and tailoring. Repair services are normally run by SMEs or gig workers. The jobs require vocational skills and capabilities to perform their service for consumers.

Cleaning services includes a wide range of services required by commercial and residential factors. The sector encompasses maid services, window cleaning, floor cleaning, carpet and upholstery cleaning, and commercial cleaning services. Among many subsectors, commercial cleaning is one of the subsectors that is dominated by global players on a B2B model. The cleaning industry is filled with opportunities and anticipated to grow by 10% by 2026. Cleaning, health, and safety have become a priority in almost every sector during the pandemic causing the innovation of the cleaning service industry to fight against the outbreak and to thrive in the industry.

The consumer services industry is shaken by digitalization and the pandemic

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Digital & Broadcast Media

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Broadcast media is a way to deliver information and messages in the form of text, image, audio, and video content over networks that expose mass audiences to cultural, artistic, political, and advertising topics in society. In advertising, broadcast media can give a company a competitive edge over other businesses because it increases consumers’ engagement and creates an immediate impact. Digitalization has led to the internet as the preferred source for media and information. However, traditional media channels, such as television and radio, will continue to provide great reach to audiences. While digital media by itself has gained traction over consumers, digital media can also be utilized as a supplement to traditional broadcasting methods. For example, television programs and radio shows incorporate social media as their strategy to reach out to even more audiences and build customer loyalty.

Television broadcasting is a telecommunications network for the distribution of television program content. In general, television network channels are available in radio frequency, cable, and satellite television. A network may or may not produce all of its own programming and can outsource to production companies (such as Warner Bros, Universal, Sony Pictures, and TriStar). Three main factors that drive demands are consumer demographics, program popularity, and advertising spending. Global TV revenues from broadcast advertising, subscriptions, and public funding are estimated to be about $230 billion. The United States has the highest TV revenue per capita, followed by Germany and the UK. The television broadcasting industry is disrupted by the incoming trend of internet TV or web-content-generated media. 

Radio was used in the past as one of the main broadcasting channels for audiences. Nowadays, radio is a minor player among broadcast media channels. Nevertheless, radio still has relevance in today's society with its local or regional reach to audiences. Radio ads have the advantage of being easier to produce and having a quicker turnaround. Public relations and local-targeted advertisements use radio to broadcast their messages because it is less expensive, achieves community engagement, and targets local audiences.

A phenomenon in present times that reshapes the world is worldwide access to the internet. The internet has enabled digital social media to become extremely popular in recent years. Social media refers to user-generated content that is published and shared online. Social media has changed consumers’ lifestyles and behaviors which has impacted many other industries. The rapid adoption of social networks in the global population has enabled a new avenue of advertisement opportunities. The global outreach at a lower cost for marketing campaigns creates a competitive advantage for many industries which is why social media has become such a lucrative industry.

Digital media leads the industry to reach audience engagement

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Education & Edtech

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The education industry comprises establishments whose primary objective is to provide education. The education industry plays a significant role around the world. The industry contributes to developing people of all ages and providing knowledge so that the people can contribute to the economy and enrich academic research. The industry consists of both formal and informal education. There is a wide range of institutions and organizations involved in learning including institutions ranging from preschools to universities, governmental policy roles, e-learning organizations, and technology companies.

The global education industry is anticipated to reach total expenditures of about $10 trillion by 2030 which is about a 50% increase from today. The online education market will play a significant part from the whole industry which is forecasted to be around 3-4% of the total market. The rapid growth of online learning is due to several factors such as internet availability, cloud computing, and investments. 

The coronavirus pandemic has disrupted education systems around the world forcing students to study from home. Educational institutions have to pivot their strategies and implementations to provide solutions, and one way to do it is using technology. The future of education must embrace digital technologyies as a vital part of learning. 

Distance or remote learning has been gaining a lot of traction in recent years. This means students do not have to be in a physical location to study and learn. Distance learning is not only applied in formal institutions such as schools and universities but also in extensive open online courses (MOOCS). MOOCS offers large-scale interactive participation and open access through the internet. Some examples of MOOCS are Coursera, Udacity, edX, and Khan Academy.

Higher education, also called post-secondary education or tertiary education, is an optional final stage of formal learning after the completion of secondary education. This includes universities, colleges, institutes of technology, and certain college-level institutions, including vocational schools and trade schools. 

Special education refers to a range of services that help children with disabilities to learn. Because of the nature of various needs and disabilities, the range of education services may vary and provide in different means and in different settings. The education needs to be tailored and customized to students’ disabilities and there is no “one size fits all” approach. This does not neglect the fact that students with disabilities could also learn in the same environment with other children as well. 

Education: the present and future of learning

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Electrical Equipment & Components

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Electrical equipment and components are machines and their components that generate, distribute, and use electrical power. This can mean producing electric wires and cables, electrical components, and manufacturers of power-generating equipment and other heavy electrical equipment. The industry has widespread applications, examples include coating, condition monitoring, electricals, energy storage, environment simulation, industrial testing, noise monitoring, photonics, power electronics, RF and Microwave, geospatial, and thin films applications. The operating structure involves high fixed costs and is highly dependent on essential raw materials. Therefore, fluctuation in commodities prices and other raw materials may have impacts on industry performance. 

The semiconductor industry is the aggregate of companies engaged in the design and fabrication of semiconductors and semiconductor devices. The semiconductor industry is the driving force and the backbone behind the wider electronic industry. As the electronic device market proliferates the semiconductor industry will continue to prosper. There are four categories of semiconductors namely microprocessors, commodity integrated circuits, memory chips, and complex systems. The semiconductor industry plays a key role in the development of new technology and innovation for electronic products. The industry is predominantly manufactured in 6 places: China, Malaysia, South Korea, Singapore, Taiwan, and Japan. Key players in the industries are Intel Corp, Taiwan Semiconductor Manufacturing, Qualcomm, Broadcom, Micron, NVIDIA, and ASE technology.

The devices in this sector convert electrical power to another form. The amount of power generated or converted depends on the capacity size of motors, generators, and transformers. Top manufacturers in the sector are Caterpillar Inc, Toshiba, ABB, and Schweitzer Engineering Laboratories, Inc. among many others.

Batteries are used as energy storage for many applications. Over the last decade, a surge in demand and production of lithium-ion batteries has provided many new opportunities. The rapid increase in production has brought an 85% decline in battery prices, making applications such as electric vehicles and other energy storage applications viable. The implication of the battery application viability is vital to transitioning away from fossil fuel dependence and is set to play greater importance in the coming decade. Low-cost battery storage is changing the future of the sector and disrupting existing technology.

The landscape for electrical equipment and components is moving towards digital transformation

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Energy & Utilities

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The energy industry globally covers the process of generation, transmission, distribution, and sale of energy which then can be translated to other purposes. In the energy sector, productivity and profit increase depends on efficiency. Power electrical grid supplies households and consumers via an interconnected network for electricity supply. There is an energy transition trend to more sustainable solutions due to environmental regulations, concern for sustainability, and climate change. Renewable and green energy are transitioning to be integrated into the national electricity grid which is increasingly phasing out “dirty” fossil fuels in the power sector and instead providing lower carbon emissions and other types of pollution. Digital operations also play a vital role in the industry, with it moving to the Internet of Energy (IoE), which refers to the upgrade and automation of electricity infrastructures for energy producers. This move will further enhance efficient energy production and reduce waste.

The utilities sector provides basic amenities, such as water, sewage services, electricity, natural gas, and heat. For the most part, utilities require a significant amount of infrastructure to provide for public use. Utilities may be owned by private or state companies depending on the country of origin, but they are part of the public service landscape and heavily regulated. Closely related to the energy sector, utilities follow the movement towards “clean” energy and sustainability initiatives. 

Renewable energy, often referred to as clean energy, comes from natural sources. It helps preserve the environment as it produces minimal to zero harmful emissions. The basic principle of using renewables is to extract them from a constant source in the environment which then is converted to produce electricity or fuels. The biggest industry trend lies in the technology and innovation discovery to reduce cost, generate more power, increase efficiency rate, and be more sustainable. The renewable energy sector may include solar power, wind energy, geothermal, hydropower, tidal energy, and biomass energy. 

The water industry provides water supply, drinking water, and wastewater services including sewage treatment to residential, commercial, and industrial sectors. The water industry does not include manufacturers or suppliers of bottled water, which belongs to the food and beverage production sector. Water quality standards and environmental standards for wastewater are usually regulated by state bodies. Ownership of water infrastructures and operations are fragmented depending on the country. Some are owned by the local government or national government but some are private ownership, co-operative ownership, or related to NGOs.

Heating for public usage, also known as district heating or heating networks, is a system for distributing heat generated in a centralized location through a system of insulated pipes for residential and commercial heating requirements. Due to heavy investment in installing the heat grid infrastructure, heating networks normally exist in heavily populated or urban areas. The heat is often generated by burning fossil fuels or biomass. 

The future outlook of energy and utilities industry is towards clean energy

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Entertainment & Leisure

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The entertainment and leisure industry is a service-based industry that provides recreational activities to people. The sector comprises many establishments that aim to entertain and cater to the varied interests of consumers. The purpose of the industry includes creating public exhibitions and providing recreational activities with the intention of entertainment. 

Globally, there is a shift in how middle and higher-income consumers are looking at many leisure activities. More and more people define themselves not based upon what they own but based upon the experiences they have in their free time.

The entertainment and leisure industry has also encountered a setback from the COVID-19 pandemic. Consumers’ attitudes and confidence are different than before. Consumers are more hesitant to go back to entertainment venues and their confidence levels are lower. However, the consumer confidence level is also related to restrictions and regulations. Therefore, the big shift is moving the out-of-home entertainment to in-home. The home becomes a new hub for people and most spending on non-essentials has generally decreased. This is mainly driven by three factors: safety concerns, behavioral change of habits, and financial reasons.

The amusement park sector offers various options including immersive theme parks, thrilling coaster parks, and family fun parks.  They normally feature various attractions, including rides, games, events, and carnivals for entertainment purposes. The sector requires a big investment to build long-lasting stationary operations. Some examples of amusement parks are Walt Disney World, Universal Orlando Park, Six Flags, Legoland, and many more. 

Casinos are facilities to serve the purpose of gambling activities. Casinos are frequently built with or near hotels, resorts, restaurants, shopping malls, cruise ships, or other tourist attractions. The casino market declined significantly during the coronavirus pandemic outbreak. The abrupt stop of economic activity has put the industry in financial distress. About 75% of revenue comes from the offline brick-and-mortar segment. Online casinos are in a much better situation compared to physical ones recently.

Concerts are live performances by musicians, singers, and instrumentalists for an audience. Concerts are held in a wide variety and size of settings and can be performed indoors inside or outdoors. The concerts sector will experience growth in the next few years despite the impact of the global pandemic. The sales will mainly come from ticket sales and sponsorship. 

The entertainment and leisure industry is facing challenges during the pandemic

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FMCG (Fast Moving Consumer Goods)

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Fast moving consumer goods (FMCG), also known as consumer packaged goods (CPG), are products that are sold quickly and at a relatively low cost. Fast moving consumer goods have a high inventory turnover and are contrasted with specialty goods. FMCGs are typically distributed through retailers, such as hypermarkets, big stores, warehouse club stores, and convenience stores. FMCGs play a vital part in the economy because they touch every part of consumer life, especially the essential needs. The FMCG industry normally represents one of the big sectors in a country and generates employment downstream.

Amidst the coronavirus crisis, the FMCG industry is generally pretty stable and shows growth in sales in comparison to most other industries. The major FMCGs players are in a good shape with revenues growing at 4% during the pandemic. Organic growth has shown results from acquisitions. Additionally, the revenue of FMCG companies has continued to grow despite the increasingly volatile market, changing consumer habits, and fierce digital competition. The major players in FMCGs are Nestlé, P&G, Pepsico, Unilever, Coca-Cola, British American Tobacco, Mondelez, and KraftHeinz.

Personal care products are consumer goods used mainly for beauty, cosmetic, and personal hygiene usage. Personal care includes products as diverse as hand soap, body wash, shaving cream, moisturizer, toothpaste, and shampoo. Because of the essential nature of consumers to use personal care products, they are widely used throughout the world in huge amounts. Some major corporations in the personal care industry are Henkel, Johnson & Johnson, Procter & Gamble, Unilever, and Colgate-Palmolive.

Processed food comprises food that has been cooked, canned, frozen, packaged, or modified in nutritional composition. Processed food has a spectrum from minimally to heavily processed, from simply pre-chopped or pre-prepped to ready-to-eat microwavable dinners. The processed food sector is on the rise, especially ready-to-eat food. There are a couple of factors that contribute to the growth: the rising income families, diminishing culinary skills, and the trend of food delivery apps. 

Office supplies are consumable items used regularly in an office environment by businesses or organizations to perform daily work tasks. The range of items classified as office supplies extends from small, expendable, daily use items to higher-cost equipment. Office supply products include paper, adhesive notes, printers, janitorial supplies, writing tools, and many more. Workplace disruptions due to the coronavirus pandemic have changed the market landscape and it is anticipated to decline as a result.

Fast moving consumer growth is highlighted by organic growth

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Fashion & Apparel

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The fashion industry is part of a larger social and cultural phenomenon in society. The fashion and apparel industry creates a fashion system that reflects language, culture, style, status, and identity. The trends in the fashion and apparel industry may be influenced by many factors: historical events, economic booms, social movements, individual trendsetters or influencers, changes in lifestyles, music, and art.

The fashion and apparel industry has several key sectors: design, raw material preparation, manufacturing, distribution, marketing, retail, advertising, and promotion. The global fashion and apparel market is expected to increase by 3.9% per year until 2025. Particularly during the COVID-19 pandemic, there has been an accelerating trend shift with consumers' preference for digital channels. The online market, which is in the e-commerce sector, will lead future growth in this industry. Online sales will increase more rapidly than physical transactions in the coming years and take up a bigger market share.

The apparel segment can be divided into several sub-industries, such as menswear, womenswear, childrenswear, and outerwear. The apparel industry is still dominated by the fast fashion sector even though there is a steady rise in sustainable, slow fashion, and second-hand fashion. The five major players in the industry are Japanese Fast Retailing Co. Uniqlo, Spanish company Inditex, Swedish company H&M, American Brand TJX, and Gap Inc.

The global apparel market is still expected to grow in value despite the anticipated downturn in the past year due to the COVID-19 pandemic. The world's three largest apparel markets are the United States, China, and Japan, with the largest growth in the Asia-Pacific region totaled to 38% demand share in 2020.

The footwear sector is a diverse industry encompassing a variety of materials, demographics, and functions. The competitive landscape of the footwear industry is considered a mature market with some challenges in increased competition and threats to intellectual property rights. The profitability of footwear companies depends on their capability to design attractive footwear lines and remain at the forefront of consumers’ minds. The global footwear market is anticipated to reach about $400 billion in 2025. The growth will be driven by new design trends and increased spending among the middle-class population. The major product category within the shoe industry is the athletic shoe segment, which is estimated to be 30% of footwear sales. The market is highly concentrated by two big players dominating the category, Nike and Adidas, and then followed by other companies such as Asics, Reebok, Puma, New Balance, Under Armour, and many more.

Luxury jewelry goods have a high proportion to income levels: as people become wealthier, they tend to buy more luxury items.  The global market size is estimated to expand at a CAGR of 7.6% from 2019 to 2025. High demand for premium fashion products across the globe is anticipated to remain a favorable factor for market growth. The market is expected to see strong growth especially from developing countries of Asia-Pacific as a result of a booming urban class population with higher purchasing power.

The pandemic causing changes to the global fashion industry

Key trends in fashion and apparel industry

Fintech

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Financial technology, also abbreviated as fintech, is the technology and innovation that seeks to improve and automate the traditional financial methods in the delivery of financial services. Fintech is implemented to aid companies, business owners, or individuals and to better manage their financial processes and operations by using software, AI, or algorithmic technologies. 

Due to its ability to improve financial activities and performances, fintech has become an emerging industry and has gained a lot of traction. Fintech has a wide variety of applications, such as mobile banking, insurance, cryptocurrency, and investment apps. The industry shows a lot of potential and is expected to continue growing for years to come. Many fintech companies or unicorns are backed by venture capital (VCs) because of the future opportunities in the industry. Traditional banks are supporters and adopters of the technology and actively invest, acquire, or partner with fintech companies so that they can stay relevant within the digital age.

Fintech adoption rate increased rapidly from 16% in 2015 to 64% in 2019 according to Global Fintech Adoption Index 2019. The increase can be attributed to fintech’s ability to be more dynamic than traditional financial institutions. The adoption rate becomes massively increased and more essential in 2020 due to the demand for digital payments and contactless technology amidst the pandemic. The future adoption of fintech will continue to be driven by the convenience aspect, inclusion, and sustainability.

Blockchain is a collection of information that is structured in a way that holds sets of information data. The block of data is latched onto the previously filled block, creating a chain of data known as the “blockchain.” Each block may contain information such as a timestamp and transaction data. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added next. This process makes blockchain resistant to modification of the data once recorded.

Blockchain has a couple of applications and is especially a rapid trend in financial services. It also has three main unique characteristics: decentralization, transparency, and security. This makes blockchain a building block for cryptocurrencies such as Bitcoin. For the most part, blockchain is used in monetary transactions, however, blockchain can also be a reliable way of storing data about other types of transactions as well. Many companies have already established blockchain applications including Pfizer, AIG, Walmart, Siemens, Unilever, and IBM. 

A cryptocurrency is a digital currency that is secured by cryptography. Using blockchain as the building block, cryptocurrency is binary data designed to work as a medium of exchange where individual transactions are recorded and stored in a ledger computerized database. The process allows secure transaction records, control of the additional coins resources, and ownership verification. A distinguishing feature of cryptocurrencies is that they are generally not generated by any central authorities, making them exempt from government interference and manipulation. 

Cryptocurrency has gained criticism for a number of reasons, but one is due to its fluctuation rate compared to other currencies. Another disadvantage is the potential illegal financial activities within the transaction. Nevertheless, it also has potential advantages such as ease of transaction and the security system, which help against inflation.

The adoption rate of Financial Technology is higher than ever

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Food & Beverage

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The food and beverage processing sector involves establishments that transform raw agricultural, livestock commodities, and semi-processed food products into a wide range of ready-for-consumption food and beverage products. The overall industry has a massive supply chain network to cover global food and beverage demands. The industry supply chain includes raw material preparation, food and beverage processing, packaging, and distribution.

The food and Beverage industry faced incredible challenges during the COVID-19 pandemic, particularly related to delivery, supply chain, last-mile logistics, and safety concerns. The whole dynamic of the F&B business shifted, from going to restaurants to making meals at home more or ordering takeaway food and from going to grocery stores to ordering online via e-commerce. Additionally, there are growing sustainability concerns within the F&B industry. As a result, healthier foods and beverages, and plant-based food are on the rise.

The industry segment is distinguished by the raw materials processed into food products. The type processing methods can be a combination of washing, chopping, pasteurizing, distilling, freezing, fermenting, packaging, and many more operations. Food processing may also involve adding components to food to extend shelf life or provide added-value nutrition (fortification). Typically, the food products manufactured or processed are sold to wholesalers or retailers for distribution to consumers. Examples of food processing are milk and yogurt, frozen foods, canned foods, snacks, processed meat, and many more. Some key players in the industry are Tyson Foods, General Mills, Mars, Danone, Mondelez, Archer Daniels Midland, Cargill, and many more.

Soft drinks, or quite often called carbonated drinks, are beverages that contain dissolved carbon dioxide. The dissolution of CO2 in a liquid gives the effervescence or fizz. The global carbonated soft drink market size is projected to reach $320 billion by 2028, with a CAGR of 4.7% from 2021 to 2028. The demand for carbonated beverages is impacted by an increased disposable income, customer preferences, and a growing population. Many of the company leaders produce new product lines and actively participate in advertising wars due to high competition. Top players in the industry include PepsiCo, The Coca-Cola Company, Danone, Monster Energy Company, Keurig Dr. Pepper, National Beverage Corp, and many more.

A brewery is a business that makes and sells beer. There are two types, commercial and craft breweries. The commercial brewing of beer usually takes place in a large fermentation facility, while craft brewing of beer is carried out by a small and independent brewer. The global beer market reached a value of $632 billion in 2020 and will continue to show continuous growth over the years. The demand for beer has increased parallel to the growing middle-class. The top key players in the commercial brewing industry are Heineken, Anheuser-Busch InBev, Carlsberg, China Resources Snow Breweries, Asahi, and many more.

Food & Beverage: Consumer lifestyles are shifting

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Healthcare, Wellness, & Fitness

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The healthcare industry, also called the medical industry, includes companies that provide medical services, manufacture medical equipment or drugs, and provide medical insurance. The healthcare industry aims to provide goods and services to treat patients with curative, preventive, rehabilitative, and palliative care.

With a market value worth $315.5 billion in 2021, the healthcare industry is growing expected to reach a value of $662 billion by 2026. Key players in the industry include CVS Health Corp., UnitedHealth Group, McKesson Corp., AmerisourceBergen Corp., Cigna Corp., Cardinal Health Inc., Walgreens Boots Alliance Inc., and Anthem Inc. 

The healthcare industry includes different facilities and services providing medical aid, diagnostics, treatments, and patient care. Such facilities include hospitals, nursing and residential care facilities, ambulatory health care services, and medical practitioners and professionals.

Medical devices refer to instruments, appliances, or machines for the prevention, diagnosis, treatment, monitoring, or alleviation of disease and are typically used by health care professionals. These devices offer numerous advantages to patients by helping medical service providers in diagnosis and treatment of patients; in addition, assisting patients to improve their quality of life. Segments include Cardiovascular Devices, Orthopedic Devices, Diagnostic Imaging, Diabetes Care, Wound Management, Dental, Nephrology, and Ophthalmic Devices among others. Key players operating in the medical devices market are DePuy Synthes, Medtronics Plc, Fresenius Medical Care, GE Healthcare, Philips Healthcare, Ethicon LLC, Siemens Healthineers, Stryker, Cardinal Health, and Baxter International Inc. and more.

The fitness market is evolving at an incredible pace, with new business models, training concepts, and trends emerging constantly. Despite setbacks in 2020, the sector has demonstrated how quickly it can adapt with online and virtual training now as mainstream activities. The global health club market is worth approximately $96.7 billion, with 210,000 clubs and over 184 million members worldwide. There’s no doubt that 2020 saw online fitness training go mainstream: global events accelerated the sector’s growth and helped establish it as a viable option for consumers around the world. Prior to the pandemic, the online fitness market was valued at $6 billion, it is predicted to grow at 33.1% CAGR, hitting $59 billion by 2027.

The healthcare, wellness, and fitness industry are on the rise

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Hospitality & Travel

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The hospitality industry is a broad category of fields within the service industry which consists of accommodation, food and drink service, theme parks, event planning, travel, and tourism. In countries like France, Switzerland, and the Benelux region, the hospitality industry can also be referred to as Horeca (abbreviation for Hotels/Restaurants/Cafes) although it is not an exact equivalent as the term hospitality is often used more broadly. 

The pandemic has impacted the industry quite detrimentally with the restrictions and social distancing measures. Nevertheless, these industries will be expected to slowly bounce back when restrictions and lockdowns are lifted. Leisure travel, tourism, and accommodation will start to pick up traction but may require different approaches post-pandemic.

The restaurant industry is the industry of professionals covering restaurants, bars, fast-food chains, cafeterias, and other food service providers that allow customers to enter, order food, and eat on the premises. The industry can be categorized into two groups: The first group is the food service operations that prepare and serve food, and the second group is the supplementary food functions that produce and distribute food, equipment, and services. 

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