News

8 Nov 2023

Whisky sales to hit $127bn by 2028

The Global Whisky Market Overview, 2023-28 by Bonafide Research found the sector is on track to reach US$127.53bn by 2028, a compound annual growth rate (CAGR) increase of 6.34% since 2022. Asia Pacific has been pegged as a prominent region for the category?s consumption growth. Leading this region in whisky consumption is India, according to the report, while Japanese whiskies were noted to be ?challenging the longstanding dominance of Scotch?. In addition, Bonafide Research acknowledged that while demand for alcohol-free substitutes has been growing, ?traditional whisky? reigns supreme due to its ?distinctive flavours, cultural value, and ceremonial enjoyment?. Yet non-alcoholic alternatives to whisky are becoming increasingly popular due to health reasons. Globally, Scotch stands out as the preferred whisky, the report revealed, yet there is a ?growing inclination? towards flavoured whiskies. The research reviewed Scotch, Canadian and Japanese whiskies, as well as American and Irish whiskeys. Major players in the category include Brown-Forman, Pernod Ricard, Suntory, Bacardi, Edrington Group, Constellation Brands and Diageo.

8 Nov 2023

Pet parenting firm Wiggles buys pet supply startup Capt Zack

Wiggles, a pet parenting firm has acquired a similar category startup Capt Zack, according to a press statement. This was a 100 per cent cash and equity deal which will help Wiggles to step into newer categories and markets. The deal value was not disclosed. "As a brand, the values that Capt Zack operates with are synonymous with Wiggles. We firmly believe this acquisition will provide an impetus to our efforts and accelerate the momentum for new product development and launches while strengthening distribution. We welcome Mohit and the team at Capt Zack to the Wiggles family. We are elated with a development of this scale and look forward to leading India?s pet care story with quality and science," said Anushka Iyer, founder and CEO of Wiggles. In the space, Vetic, a tech-enables chain of pet clinics, received $3.7 million in seed funding last November. The other startups in the space include Heads up for Tails, Pawfect.xyz, Supertails, among others. India has been the fastest-growing pet care market globally, according to statistics. The Indian pet care market is anticipated to grow at a CAGR of more than 19 per cent to hit Rs 5,474 billion by 2025, according to a Bonafide Research study.

8 Nov 2023

This mother-daughter duo started a soap brand from home with RS 2 Lakh capital, and now has global customers

The personal wash products, which consist of products such as soaps, body wash, shower gel and liquid hand wash are expected to clock a CAGR (compound annual growth rate) of 8.45 percent until 2021, as per a report titled ?India Personal Wash Market Outlook 2021? by Bonafide Research, a global research company. Although the industry is mainly driven by the bath soap category, shower gel products too are a fast-expanding segment, both in India and across international markets. Vama says that there?s a huge potential in the segment with lots of opportunities and thus she and her mother are trying to experiment more formulations to cater to their customer?s needs which are present internationally too.

8 Nov 2023

How a lost dog inspired two friends to build a pet tracker that grew into a full-fledged pet care startup

In the pet services space, it competes with the likes of ?Monkoodog?, ?ThePetNest?, Heads Up for Tails, and ?Vetco?, among several others. According to a Bonafide Research report, the Indian pet care industry is expected to reach Rs 5,474 crore by 2025, with a CAGR of more than 19 percent.

8 Nov 2023

Here are the startups transforming the pet care landscape in India

According to a Bonafide Research report, the Indian pet care industry is expected to reach Rs 5,474 crore by 2025, with a CAGR of more than 19 percent. As more and more Gen Z and millennials turn pet parents, we take a look at five startups fulfilling the needs of the rapidly evolving petcare industry in India.

8 Nov 2023

The Global Whiskey Market Will Hit $127 Billion By 2028

Drink trends come and go, but you can?t keep a good dram down. According to the new Global Whisky Market Overview, 2023-28 report by Bonafide Research, the whiskey category is set to reach $127 billion by 2028. The category is expanding at a CAGR of 6.34% According to the report, Asia-Pacific has evolved as one of the most exciting regions for whiskey, with India showing a particularly huge amount of affinity for the spirit.

8 Nov 2023

Pamper Your Pooch

In recent years, rapid urbanisation, nuclear family structures, and the humanisation of pets have all contributed to the worldwide increase in pet ownership. According to a survey by Bonafide Research, the Indian pet care business is projected to reach Rs 5,474 crore by 2025. Tapping into the trends, companies are releasing a slew of luxury pet accessories such as touch-sensitive feeding bowls that load water as needed or food from a canister when the pet touches them. Pet owners are drawn to specialised products for a variety of reasons, including convenience, care and love for their furry friends, and are prepared to go the extra mile for their pets? wellbeing, way beyond just ensuring they are well fed.

8 Nov 2023

Pet Industry Bites The Digital Pie

The pandemic has opened up abundant opportunities for players in India's pet industry. The demand for pets is more today than ever. With it, the demand for pet food, accessories, grooming products and toys is also on the rise. According to the report titled "India Pet Care Market Outlook, 2025", by Bonafide Research, the Indian pet care market is expected to reach INR 5457 crore by the end of the year 2025. It will register a CAGR of more than 19 per cent. Today, there is also a huge opportunity for entrepreneurs to explore innovative business models in the space such as arranging pet-friendly vacations, pet gifts, consulting services, adoption services for street dogs, among others. We are also seeing the adoption of animals other than dogs and cats including birds, turtles, and tortoises.

1 Jan 1970

Smart homes in Argentina, an expanding phenomenon thanks to the country's digital transformation

Adoption of home automation in homes in the country has been growing significantly after the pandemic," says Marcelo Shen, country manager for Argentina at EZVIZ, a company expert in developing technology for smart homes. ?There are many more homes with the Internet, the generation gap in the use of mobile devices has been reduced and solutions such as video surveillance cameras for homes, smart locks, video access systems and other home devices, which are also easy to use, to install and accessible in price, they have entered the daily lives of Argentines. According to the report "Argentina Smart Home Market Overview 2028", published by Bonafide Research, the Smart Homes market in Argentina was valued at more than 300 million dollars in 2022, and since the post-pandemic, experts predict an increase in the penetration of this technology in homes.

8 Nov 2023

Once ignored, a range of products and services are looking to tap into the senior citizen market

The Rs 350 crore adult diaper market, too, is forecast to ?grow significantly due to increasing healthcare standards in the country?, according to consultancy Bonafide Research in its report ?India Diapers Market 2021?. In real estate, consultancy JLL estimates in a report that the demand for formal senior living facilities would be 312,000 units.

8 Nov 2023

Report: Global Pet Care Industry Anticipated to Reach $195.3B Market Size

According to the American Pet Products Association (APPA), more than 65 percent of U.S. households own a pet. There has also been a notable shift in pet ownership demographics, with younger generations showing a greater inclination toward pet ownership. Millennial and Gen Z pet owners, in particular, are driving market growth as they prioritize the well-being and happiness of their pets. According to a report by Bonafide Research, the market was valued at $142 billion, and is anticipated to reach around $195 billion during the forecast period of 2022-27, registering a CAGR of above 5 percent. Key takeaways of the report include: North America leads the market with a 45.34 percent market share in 2021, owing to its large and growing population of pet owners. The pet food segment is expected to lead the market by 2027, attaining $126.12 billion. In 2021, nearly 72 percent of the market was occupied by dog and cat food segments. Specialized pet shops such as Pet Haven, Paws & Whiskers, Fur and Feathers, The Pet Emporium, Tails and Trails, Petopia, etc. are leading the market in 2021 with $100 billion. The rise of e-commerce platforms and the increasing preference for online shopping are expected to have a profound impact on the pet care industry, with a 9.39 percent CAGR by 2023?28. Animal-derived food is the most common choice for many pet owners across the globe. The pet care industry has evolved to meet the changing demands and preferences of pet owners. Pet owners are willing to invest in premium products and services that cater to their pets' needs. From nutritious and wholesome food options to specialized grooming and pampering experiences, pet care businesses are dedicated to providing exceptional care that ensures tails wag with joy and whiskers twitch with contentment. The number of pet owners worldwide has been steadily increasing over the years.

8 Nov 2023

Staples Connect Doubles Radio Campaign As STEM Pest Control Lands In Top 10.

To market its Memorial Day deals, Staples Connect doubled its radio spot count to 28,501, putting the rebranded office supplies retailer formerly known as just Staples back in radio?s top 10 advertisers for the week of May 15-21. That?s up from 14,241 spots the week prior as Staples Connect advances in rank from No. 36 to No. 9. It?s the retailer?s highest position on the Media Monitors spot count tally since the week of June 21-27, 2021. The latest list of radio?s top 100 advertisers also boasts a new entry. As homeowners aim to keep mosquitoes and other bugs away from Memorial Day weekend activities, STEM Pest Control aired 27,716 spots for its bug killers and repellents that use ?plant-derived active ingredients formulated in scientifically precise combinations to optimize its effectiveness.? This marks the SC Johnson & Son brand?s first appearance in the top 100, landing with a bang at No. 10. STEM Pest Control operates in a growing industry. The global pest control market is forecast to grow at a compound annual growth rate of 5.28% to be valued at $30.64 billion (USD) by 2027, according to Bonafide Research.

8 Nov 2023

Global Organic Food & Beverage Market to Grow

Bonafide Research reports that the surge in demand for clean-label food and beverage products is expected to be a significant driver for the growth of the organic food and beverage industry. The rise in health consciousness among consumers increases the demand for sustainable food and beverages. By choosing organic products, consumers support sustainable agricultural practices that promote biodiversity, soil conservation and the preservation of ecosystems. One such trend is the rise of "farm-to-table" and "farm-to-glass" practices, emphasizing the traceability and freshness of organic ingredients. Consumers are increasingly seeking local, organic produce and artisanal products that connect them to the origins of their food and drinks. The organic market has witnessed significant innovation and product diversification. The availability of diverse organic product offerings appeals to a broader consumer base and drives market growth. In addition to that, many governments around the world are actively supporting organic farming practices through financial incentives, grants and subsidies. These initiatives aim to promote sustainable agriculture, reduce chemical usage and support the growth of the organic sector.

8 Nov 2023

What is EV fluid, and why is it important for EV consumers?

The EVs are operated by the batteries and motor as the prime movers, and hence require a different set of fluids than the ICE vehicles. The conventional fluids are inapplicable for the EVs as they can lead to viscosity-related issues and corrosion of parts while compromising the overall performance and life of the vehicle. The EV fluids have been engineered and modified specifically to meet the requirements of the high-tech powertrains. These fluids are responsible for cooling the powertrain and transmission system while stabilizing the temperature of the battery and power electronics. Moreover, the EV fluid carries out the function of heat transfer, and the E-grease lubricates the EV components while countering the noise, vibration, and harness (NVH) levels in the vehicle. The other functions of the fluids include a reduction in the losses of energy in the drivetrain while enhancing the transmission system in an EV. In addition, the EV fluids are responsible for providing protection in case of any flaring caused by the close contact of the EV components. Furthermore, they also help in cooling the e-motors and gears, which can extend the overall life of the vehicle components and improve the vehicle?s efficiency. According to the report by Bonafide Research, the electric vehicle fluid market is expected to grow at a CAGR of more than 25% in terms of value. For now, the market is divided into four main components: grease, brake fluid, heat transfer fluid, and drive system fluid. As the adoption of the EVs increases, the customers must also get smarter in understanding their vehicles. Now, let us focus on why EV fluids are significant for EV consumers.

8 Nov 2023

Omnichannel marketing to drive purr-chase growth in the petcare industry

India?s pet ecosystem is witnessing an interesting phase. The post-Covid-19 era has led to a steep growth in ?fur-rendships? in India as more and more Gen-Z and millennials are turning into pawrents (pet parents) by the day. According to a Bonafide Research report, the Indian pet care industry is expected to reach INR 5474 crore by 2025, with a CAGR of more than 19 per cent. With increasing disposable incomes and a willingness to offer a healthy environment and the best nutrition to their fur-babies, pawrents have started spending more on petcare offerings. A report by Supertails.com, a full-stack tech-enabled pet-care startup, titled ?Pawrents'' revealed that 55 per cent of pet parents spend an average of INR 3000 per month on taking care of their pets in Bangalore, while in Mumbai, 52 per cent of pet owners spend the same amount.

8 Nov 2023

Technological innovation will shape men?s grooming in the years to come

As per India Men?s Grooming Market Outlook, 2027-28, the market is anticipated to exhibit a CAGR of 11% during the forecast period. Furthermore, the market size is expected to exceed Rs 31,000 cr mark. The men?s grooming industry in India has witnessed significant growth in recent years, driven by factors such as increasing awareness among men about personal grooming, rising disposable income, and changing cultural attitudes towards male grooming. In an interview with Bizz Buzz, Rajat Tuli, Co-founder, Ustraa, says, ?technological innovation has had a profound impact on the men?s grooming industry in India, and we expect it to continue to shape the industry in the years to come. As a brand that is committed to innovation and staying at the forefront of industry trends, Ustraa?s New Product Development (NPD) team leverage technology and works tirelessly to develop and formulate product in-house. The men's grooming industry in India has witnessed significant growth in recent years, driven by factors such as increasing awareness among men about personal grooming, rising disposable income, and changing cultural attitudes towards male grooming. As per the report titled, India Men's Grooming Market Outlook, 2027-28, which was published by Bonafide Research and Marketing, the market is anticipated to exhibit a compound annual growth rate (CAGR) of over 11 per cent during the forecast period. Furthermore, the market size is expected to exceed Rs 31,000 crores.

8 Nov 2023

Electric motorcycles are driving the future of sustainable mobility in Africa as an affordable & practical vehicle option

Bonafide Research?s South Africa Electric Bicycle Market Overview, 2027, shows the market will expand significantly in the forecast period as the pursuit of healthy lifestyles, fitness trends, and recreational activities drive sales. In West Africa, Nigeria?s Federal Ministry of Power in April unveiled 10 electric-powered motorcycles manufactured by MAX Nigeria under its Electric Vehicle Opportunities in rural and peri-urban communities in Nigeria. Germany and the EU, which are part of the project, hope significant adoption of the eBikes will follow.

8 Nov 2023

Colgate's new ad is toothless and grinning

Products that provide nourishment to the body, skin and hair, have been popular for quite some time. But what?s new, is nourishment for teeth. The oral care market in India has witnessed tremendous growth over the last few years. According to ?India Oral Care Market Outlook, 2027? published by Bonafide Research, the overall market is expected to grow by over 10% by the end of the forecasted period (2027). The oral care market is categorised into five major categories - toothpaste, toothbrush, toothpowder, mouthwash and others. Toothpaste dominates the space, with more than 60% share. Adding a new dimension is Colgate-Palmolive, a leading oral care brand in India which, to promote teeth nourishment, has relaunched ?Colgate Strong Teeth? toothpaste, with cutting-edge arginine technology. To showcase this, the brand has rolled out a film, titled ?DaantonkaPoshan?, on its social media platforms. What?s interesting about the ad, is that it features a toothless grandmother. The brand wanted to come up with an idea that broke away from regular toothpaste ads.

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