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What COVID-19 Impacted on Medicinal Mushroom in the Food and Beverages Industry ?

COVID-19 Impact on Medicinal Mushroom in the Food and Beverages Industry

The COVID-19 pandemic has affected the industrial and commercial progress of most of the regions in the world. The persistence of the COVID-19 for a longer period has adversely affected the most vulnerable groups of the population including adults aged more than 60 years, mothers, and children. Globally, countries are expecting a drastic decline in dietary quality in low- and middle-income countries as a result of loss of income, the shutdown of businesses, human and goods movement restrictions imposed by governments, de-globalization, and breakdown of the supply chain of food markets due to both demand shocks and supply constraints. Healthcare facilities have been consistently giving their best to combat COVID-19 and helping resources to divert from nutritional care including micronutrient supplementation, prevention, and treatment of child malnutrition. In normal times, malnutrition remains a multidimensional problem and during the pandemic situation, it has taken a major hit. Thus, the population will be more focused on building higher immunity levels during the post-crisis situation.  

Every sector in the healthcare industry has been impacted due to the COVID-19. The global medicinal mushroom market has had positive impacts on some of the aspects of the COVID-19 outbreak. The COVID-19 pandemic led to an increase in demand for medicinal mushroom supplements which benefited the market.

EFFECT ON DEMAND FOR MEDICINAL MUSHROOMS INCREASED DURING COVID-19 OWING TO HEALTH BENEFITS OF MEDICINAL MUSHROOM

Medicinal mushrooms are continually grabbing the spotlight for their incredible health benefits, ranging from cancer prevention and treatment to being anti-viral, to curing asthma and even prolonging life and have been shown to help with a wide variety of ailments through a myriad of mechanisms, but they are perhaps most demanded owing to their actions in supporting the immune system and quelling inflammation. These effects may very well make some mushroom species powerful allies in the fight against COVID-19 infections and COVID-19-related lung disease. As COVID-19 directly affects the immune system medicinal mushrooms can fight against the virus and rebuild immunity and being aware of this fact consumer demands more supplements made of medicinal mushrooms.

Specifically, the mushroom species Basidiomycota Agaricus blazei Murill (also known as Agaricus), Hericium Erinaceus (also known as lion’s mane), and Grifola frondosa (also known as maitake) shows to enhance the body’s antimicrobial activity against viruses and have anti‐inflammatory properties. These medicinal mushrooms may therefore be useful in soothing severe lung inflammation and may help fight secondary pneumonia that can follow COVID‐19 infection.

Some of the medicinal mushrooms and their health benefits:

Reishi

Reishi has long been heralded as the elixir of life. This mushroom is well proven to prevent and combat cancer and other immune system disorders.

Maitake

Maitake is another medicinal mushroom masquerading as gourmet food. It has been studied extensively for breast cancer and has been shown to reduce tumor size and aggressiveness.

Thus, the properties of medicinal mushrooms enabling the healthcare industry to manufacture the supplements and to use medicinal mushrooms in treating various diseases are driving the growth of the market.

For instance,

·         In September 2020 Mindful drinks launched a range of 0.5% AVB craft beers made with ‘medicinal’ mushrooms in the U.K.

·          In October 2019, Rebbl, launched Mayan Cocoa Gold Label Elixir, an organic drink featuring four medicinal mushrooms, to support immune health

THE INCREASING VEGAN POPULATION DURING COVID

Veganism is most commonly thought of as a diet. A vegan diet consists exclusively of plant-based foods. Eggs, milk, meat, and even less obvious products like honey are off the menu. Yet veganism is also a broader lifestyle. There are various reasons behind the shift of various consumers towards veganism such as to have a healthy life, to protect the environment, and to stay fit.

In addition, the increasing disease originating from meat and junk food is one of the most common reasons behind veganism, and awareness about the health benefits of vegan food. Thus, consumers since COVID-19 are demanding more vegan food such as medicinal mushrooms which help them to build immunity and fight against the virus. Thus, consumers are demanding food and supplements made from medicinal mushrooms. This is helping the medicinal mushroom market to grow as it provides all the beneficial nutrients to the body with the medicinal benefits.

For instance,

·         According to the article published by Sentient Media, trends are pointing towards changing diets. Flexitarianism, which means people who are consuming less meat and are sometimes vegetarian, is on the rise. It is found a decrease in those who consider themselves “meat eaters”, going from 85 percent in 2019 to 71 percent in 2021

·         According to the article published by Sentient Media, in 2016 in the United Kingdom found that the number of people identifying as vegans rose a whopping 360 percent in the previous decade, and it appeared that plant-based diets have continued to grow in popularity. The year 2020 brought more global awareness of the connections between disease and meat consumption, which may be responsible for the 40 percent increase in vegans in bringing the estimated total to 1.5 million people

·         According to article published by LIVEKINDLY, France has witnessed a plant-based boom. Sales of vegan and veggie foods increased by 24 percent between 2018 and 2019. In the year 2017, a study revealed that 30 percent of Swedish Millennials were eating more plant-based foods for health and sustainability

Thus, the trending veganism is helping the medicinal mushroom to reach new heights and grow rapidly in the coming years.

COVID-19 IMPACT ON SUPPLY CHAIN OF MEDICINAL MUSHROOMS

The supply chain plays a major role when it comes to the sale of food products and due to the persistence of COVID-19, the supply chain has been disrupted worldwide. With the persistence of COVID-19, there have been restrictions on transportation, import, and export of food products. Furthermore, with the movement restriction on workers as well, the manufacturing of medicinal mushrooms and their products has been affected due to which the demand from consumers has not been fulfilled. Also, with restrictions on import and export, it has become difficult for the manufacturers to supply their products to various regions, which has impacted the prices of medicinal mushrooms and their products. Thus, with ongoing restrictions due to COVID-19, the supply chain for the medicinal mushroom market has been disrupted, which is creating a major challenge for the market.

The ongoing COVID-19 and restrictions on movement are disrupting the supply chain worldwide, which is posing a major challenge for the global medicinal mushroom market. However, manufacturers are trying to sell their products on digital platforms to cope up with the situation and hence are getting positive responses from the consumers.

CONCLUSION

COVID-19 outbreak has affected positively or negatively every sector in the market which includes the medicinal mushroom market. It has impacted medicinal mushrooms positively as there was an increase in demand for medicinal mushrooms owing to their properties and health benefits.

Many researchers and medicinal mushroom manufacturers are urging governments to build awareness about the consumption of medicinal mushrooms. Manufacturers are offering verities in the supplements of medicinal mushrooms to enhance health & increase the growth of the business. This is significantly affecting the global medicinal mushroom market. Thus, the Global medicinal mushroom market will mark sudden surges in demand during the COVID-19 pandemic and is projected to significantly grow over a long period due to permanent changes in consumer buying behavior.

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Significant Impact of COVID-19 on Surgical Visualization Products | Healthcare Industry

COVID-19 Impact on Surgical Visualization Products in Healthcare Industry

The first case of the COVID-19 pandemic was found in Wuhan, China. This 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.

As a result, the greatest medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries and the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East, and Africa up to South America. The COVID-19 has been declared as a pandemic by WHO due to its increased spread across the globe.

Various countries announced complete lockdown just after the declaration of COVID-19 as a pandemic, such as the U.S., India, Germany, and China, to protect them from spreading the disease.

According to the weekly epidemiological report of 23rd August 2020 by WHO, a cumulative total of 23 million cases of Coronavirus have been reported globally, and 800,000 patients are dead due to the Coronavirus.

Surgical visualization products are used to improve the quality of images of internal organs with greater resolution. They improve the surgical process and enhance communication between healthcare professionals, specialty clinics, and patients. 3D visualization technology’s incorporation in diagnostics has enabled easy inspection and visualization of organs in 360 views, thereby being the accurate and improved quality of surgery. Surgeons and healthcare professionals widely prefer surgical visualization to evaluate, inspect and treat internal organs from a distance from the target organs without incision. The rise in chronic diseases, advancement in surgical visualization, rising healthcare expenditure are acting as drivers for the global surgical visualization products market. The implications of COVID-19 have considerable influence on the surgical visualization products market. Various factors that indirectly influence the decline in medical surgery procedures include flight cancellations, travel bans, mass quarantine, growing panic among the population, and uncertainty about the future.

IMPACT ON PRICE

Delay associated with various types of limitations due to the pandemic faced by the manufacturers to fulfill the end product order, which has resulted in less availability of surgery devices in the market. The cost of available devices has increased with several factors. Also, due to the Coronavirus disease (COVID-19) pandemic, manufacturers are forced to find new contract manufacturers and suppliers to move manufacturing activities to different or new facility locations less impacted by the outbreak.

If the COVID-19 continues to spread for prolonged period, then it is estimated that the demand for surgery devices will downgrade by top importer countries. Moreover, top surgical visualization product importers' countries such as the United States and Europe are primarily concentrating on dealing with Coronavirus (COVID-19); due to this reason, demand for these surgical visualization products are decreased from the United States followed by Italy.

In current situations, the manufactures of surgical visualization products are facing difficulties with the existing component supplier or contract, manufacturers who are at risk or closed or not being able to fulfill supply requirements, due to challenges such as extended periods of shut down or workforce are responsible for price fluctuation of surgical visualization products.

IMPACT ON DEMAND

Coronavirus disease (COVID-19) is an infectious disease caused by a SARS-CoV-2 virus, while a large population is affected by this COVID-19 virus. Coronavirus disease (COVID-19) causes acute respiratory illness ranges from mild to severe pneumonia with respiratory failure. Nearly all the countries have taken initiative action under locked down and social distancing restrictions to minimize the spread of COVID-19. Sudden shrink took place in various surgeries due to affirmative restrictions. Reduction in surgeries across the globe is adversely affecting the on-demand of minimally invasive surgery devices. However, due to lockdown and social distancing restrictions, most of the patient pool prefers virtual visits through video calling or telehealth video visiting.

In compliance with the Centers for Disease Control recommendations, the American College of Surgeons, the Brazilian Society of Plastic Surgery, and the American Society of Plastic Surgeons recommended postponing or canceling elective surgery.

The goal of this recommendation is two-fold: first to minimize patient and visitor traffic in healthcare settings to reduce transmission between patients and healthcare workers and secondly, to preserve essential resources, especially hospital beds, critical care and ventilator supplies, and PPE critical to the safety of patients and healthcare professionals.

Moreover, the decrease in the revenue of the key market players depicted in their quarterly results, such as Johnson & Johnson Services, Inc., among others, gave evidence of the decline in the demand for medical devices due to the emergence of the COVID-19 pandemic.

For instance,

·         Johnson & Johnson Services, Inc., reported a decline of 10.5% in its medical devices net sales of the fourth quarter of 2020 compared to 2019. The reduction was largely motivated by the detrimental effects of the COVID-19 pandemic and the subsequent deferral to companies of medical procedures.

IMPACT ON SUPPLY

The COVID-19 pandemic has transformed various organizations’ business environments; supply availability has been hampered by many issues, including export and travel restrictions by some producing countries and lockdowns that have forced suppliers to (temporarily) shut down.

Healthcare organizations have been firmly monitoring the supply chain with the assumption that the COVID-19 outbreak may adversely impact the supply chain of medical devices, including shortages of surgical visualization products or potential disruptions in its supply chains to minimize supply chain crises.

For instance,

·         The Zimmer Biomet spine, dental and CMFT segment sales have a decrease of 10.3% and found a decline in total sales from USD 1,161.3 million in 2019 to USD 1,043.7 million in 2019. These decline in sales are due to disruption of the supply chain and change in the focus to COVID 19

Several organizations are looking forward to improving and diversifying supply chain models to manage such a crucial situation. A diversified supply chain model anticipated minimizing the export of medical devices and increasing end-to-end visibility. The resulting COVID-19 pandemic has shown the various ways for supply chain management, which may be effective within a remote working environment.

STRATEGIC DECISIONS BY MANUFACTURERS

A large pool of population affected by COVID-19 virus and spread been expanding across the world in the last few months. Various market players are creating new strategies to deal with the COVID-19 outbreak challenges.

The companies are now opting for digital media such as telecommunication, mobile applications, webinars, and other digital media to support the patient required to tackle the pandemic situation and increase their revenue and growth. Moreover, to accomplish the market demand, small market players are utilizing the partnership agreement strategy. It is projected that these strategies are anticipated to escalate up the company revenue and its growth in the forecast period.

For instance,

·         In September 2021, Smith & Nephew launched LENS 4K surgical imaging system, a state-of-the-art visualization platform designed for end-to-end 4K imaging, which has created a persistent revenue-generating path for the company.

·         In January 2016, CONMED Corporation completed the acquisition of privately-held SurgiQuest, Inc. This acquisition has strengthened company’s leadership in the market.

Furthermore, for the economic recovery after the pandemic of COVID-19, the manufacturers of surgical visualization products have to adopt several types of strategic initiatives in terms of increasing R&D activities conduct numerous types of market surveys to know the current situation and mindset of consumers towards their need. The increasing R&D activities will help the manufacturers to launch the advanced equipment by knowing the advanced technology or need of the end user.

CONCLUSION

The market is expected to decline due to increased restrictions imposed by various governments leading to the closing of non-emergent healthcare facilities, including procedures such as surgery medical devices.

The mass quarantined imposed by the government put a stop to transportation, international travel, among others which reduced the chances of such surgery. The market player has experienced decreasing customer demand for its products beginning in the second half of its first quarter of 2020.

Thus, the COVID-19 pandemic has an adverse impact on the market, affecting the price, supply, and demand of surgical visualization products. However, in the crisis call, market players, government bodies, and healthcare organizations are working closely with healthcare professionals, customers, and patients to better public health.

However, companies and government bodies exclusively concentrate on making the most effective and best contribution to control the spread of the virus and save lives. They are also ramping up the production of essential medication to a new level and ensuring that speed doesn’t affect or destroy the quality of products.

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How COVID-19 Impacted on Dermal Fillers in Healthcare Industry ?

COVID-19 Impact on Dermal Fillers in Healthcare Industry

In the city of Wuhan, China the coronavirus disease (COVID-19) outbreak was first experienced after that, coronavirus disease (COVID-19) has expeditiously spread across the globe, with a large number of cases having been reported worldwide. The coronavirus disease (COVID-19) pandemic is not only creating a health crisis but also affecting healthcare, economies, and the pharmaceutical sector as well as at their core.

As COVID-19 is an infectious disease, its spread is endless; moreover, there is no specific and approved treatment for the coronavirus disease (COVID-19) on the other hand global dermal filler manufacturing companies are finding it difficult to manufacture and distribute products across borders due to lockdown, disrupted supply chains, and social distancing restrictions.

Coronavirus pandemic has hit the healthcare systems across the globe due to high debt levels and already weak economies of the region. The implications of COVID-19 have considerable influence on the dermal fillers market are now it is starting to be felt. Various factors have an indirect influence on the decline of the dermal filler market as frontline healthcare professionals are involved in essential procedures and containment of COVID-19 spread. Moreover, flight cancellations, travel bans, mass quarantine along with growing panic among the population, and uncertainty about the future are some of the other factors involved.

PRICE IMPACT

Due to the pandemic, there is a delay associated with various types of limitations faced by the manufacturers to fulfill the end product order.

However, according to the primary respondent from Gladerma Laboratories LLC, the company did not stop the manufacturing of the Restylane although the demand was normal during the pandemic. Also, due to the coronavirus disease (COVID-19) pandemic outbreak, manufacturers are forced to find new contract manufacturers and suppliers to move manufacturing activities to different or new facilities locations that are less impacted by the outbreak.

The average cost of dermal filler is USD 652/per injection in 2019 which was decreased during COVID-19 due to a decrease in demand.

IMPACT ON DEMAND

In compliance with the recommendations of the Centers for Disease Control, the American College of Surgeons, the Brazilian Society of Plastic Surgery, and the American Society of Plastic Surgeons recommended postponing or canceling elective surgery. The goal of this recommendation is two-fold: first to minimize patient and visitor traffic in healthcare settings to reduce transmission between patients and healthcare workers and secondly, to preserve essential resources, especially hospital beds, critical care and ventilator supplies, and PPE critical to the safety of patients and healthcare professionals.

·          U.S.-based dermatologist told in an interview that before COVID they daily perform 10-20 procedures of fillers.  However during COVID, they suggested their client delay the procedure before they get vaccinated and or after 1 month of being vaccinated. This also decreases the demand to some extent

·         According to American Academy of Facial Plastic and Reconstructive Surgery's (AAFPRS) while demand for facial plastic surgery procedures increased, the AAFPRS found that the demand for dermal filler decreased for the first time in years

·         There are several theories that denote the decrease in demand such as the use of mask have due to which faces are covered which delayed the demand of dermal filler procedures.

·         Some plastic surgeons saw a decrease in demand due to the shift of procedure as the dermal filler is temporary and stays for 3 to 4 years. However, plastic surgeries are permanent which decreases the demand for the product.  

This instance clearly indicated the negative impact on the demand of dermal filler product.

However, Allergen Product Juvederm which is now the product of Abbvie got approval in 2019 and during the Revenue 2020 showed that the overall sale of Juvederm is USD 718 Million which is fragmented into USD 318 million of the U.S. and USD 400 million International.

The above instance showed that the product demand decreased due to lockdown and fewer patient visits in the hospital or clinics.

IMPACT ON SUPPLY

The COVID-19 pandemic has transformed many organizations’ business environments. Supply availability has been hampered by a number of issues, including export and travel restrictions by some producing countries, and lockdowns that have forced suppliers to (temporarily) shut down. To minimize supply chain crises, healthcare organizations have been firmly monitoring the supply chain with the assumption that the COVID-19 outbreak may adversely impact on the supply chain of medical devices, including shortages of aesthetic & cosmetic surgery devices or potential disruptions in its supply chains.

·         Revance which is a U.S.-based manufacture of dermal fillers announced that they didn’t find an issue with the supply chain as they have their manufacturing plant in the U.S. only

·         However, the agreement with Teoxane SA for the production of RHA 2, 3, 4 has delayed the commercialization and supply of this product in the market. The company in the initial quarters of 2020 has stopped the manufacturing of RHA due to COVID-19 and deficiency of raw material

STRATEGIC DECISIONS BY MANUFACTURERS

A large pool of the population affected by this COVID-19 virus and its spread been expanding across the world for the last few months. In order to deal with the COVID-19 outbreak challenges, many dermal filler market players are creating new strategies. Also, to tackles the pandemic situation and increase the company revenue and growth, the company now opting for digital media such as telecommunication, mobile applications, webinars, and other digital media to support the patient requirement. Moreover, to accomplish the market demand, small market players utilize the partnership agreement strategy. It is predicted that these strategies are anticipated to escalate up the company revenue and its growth in the forecasted period.

For instance,

·         In May 2020, AbbVie Inc. has completed its acquisition of Allergan. This acquisition has helped AbbVie Inc. to increase its market and demand for its product in the future as the acquisition has combined the product portfolio of the companies thereby strengthening their business

·         In October 2020, AbbVie Inc. has announced that it has entered into an agreement with Luminera. It is predicted that this agreement is anticipated to strengthen the company’s footprints in the aesthetic business sector

·         Revance has mentioned about the 3 clinical trial approved b FDA in March 2020 which belongs to aesthetic category. These will bring more dermal filler to the market

CONCLUSION

The dermal filler market size experienced a decline in 2020 due to increased restrictions imposed by various governments leading to the closing of non-emergent healthcare facilities including procedures such as aesthetic & cosmetic surgery devices and augmentation among more. The mass quarantined imposed by the government put stop to transportation, international travels, medical visa which is an important part of Thailand healthcare revenue and the dermal filler clinics have mentioned during primary research that the patient number has decreased due to covid-19 restrictions.

The market player has experienced decreasing levels of customer demand for its products beginning in the second half of its first quarter of 2020.   

It can be concluded that the COVID 19 pandemic situation has an adverse impact on the global dermal filler market affecting the price, supply, and demand of the fillers. However, in the crisis call, market players, government bodies, and healthcare organizations work closely with healthcare professionals, customers, and patients for the betterment of public health.

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How Impacted COVID-19 on Animal Nutrition in Food and Beverages Industry ?

COVID-19 Impact on Animal Nutrition in Food and Beverages Industry

The novel Coronavirus has profoundly impacted all fields, including the food industry, healthcare, medical services, animal nutrition industry, automotive, pharmaceutical, and many others. This pandemic has led to shutdowns of mass production and disruptions in the supply chain that have impacted the economies of virtually every nation in the world. The COVID-19 has impacted the animal nutrition industry by increasing its demand across the global region. The extended lockdown has affected pet care product demand through e-commerce. The two major reasons are easy accessibility and the availability of multiple brands.

For instance,

·         In the year 2020, spending on pets increased among 34% of pet owners, compared to 17% who spend less and 49% who did not change their pet budget

Since the start of the COVID-19 pandemic, consumers became more inclined towards more essential nutrients and the feed intake of their animals and pets. Moreover, there has been an increase in the focus for care and maintenance among pet owners for a better quality of life thus growing the demand for various nutritional food products.

All these factors have helped to boost growth for the animal nutrition market during the COVID-19 pandemic.

IMPACT ON DEMAND

Feed manufacturers and producers are prioritizing health, animal immunity, and safety over productivity and profitability due to this pandemic. They are looking for specialty feed flavor and sweetener ingredients as they become more aware of techniques and strategies to manage the health of pets. This pandemic has provided an opportunity for pet food manufacturers to show their assurance to their customers by delivering customized support, representing their reliability and consistency as suppliers, and augmenting their company’s biosecurity efforts across the board.

Moreover, there has been a growing number of animals and pet adoption which is further expected to fuel the demand for the animal nutrition market.

For instance,

·         The number of families owning a pet has increased by 40 percent from 2015 to 2019 hence the demand is also expected to increase

Before the pandemic, pet food was considered comfort food by the animal holders owing to its feed intake increasing capacity. But due to the COVID-19 pandemic, the consumers are more inclined towards more essential nutrients and the feed intake of their pets. This factor has helped to boost the growth of the animal nutrition market during the COVID-19 pandemic.

AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKET

According to the U.S. Food and Drug Administration (FDA), in terms of the safety of pets, there is no recent evidence regarding the pet food associated with transmission of novel coronavirus diseases as the corona is primarily spreading from person to person through direct or indirect exposure of respiratory droplets.

For instance,

·         According to the World Organisation for Animal Health, there haven't been any reports of pets spreading COVID-19 to people

However, there has been increased concern regarding the quality care among pets by their owners. As a result, the key pet organization and welfare such as American Pet Products Association (APPA), the World Pet Association (WPA), the Pet Industry Distributors Association (PIDA), urged the governments for are taking initiatives so that the owners could care for their beloved companion animals.

For instance,

·         In March 2021, the Pet Industry Joint Advisory Council (PIJAC) drafted an open letter to Federal, State, and Local Government Officials Regarding Pets and COVID-19 Precautions. This was an appeal urging government officials to consider the needs of pets and the people who care for them as they took steps to address the public health crisis

IMPACT ON PRICE

In the COVID-19, the price of animal nutrition is not much affected due to various reasons such as the boom of animal nutrition products including pet food. But with the rising number of cases, is creating a panic situation among growers and suppliers. Asia-Pacific saw an increasing demand for pet nutrition commodities, which has resulted in increasing prices of the products.

·         China has witnessed increased swine production despite this pandemic. According to a recently published report of USDA, swine production has been increased in April 2020 as compared to April 2019

·          Thailand become the world’s 4th largest exporter of pet food with pet food exports worth over USD 1.693 billion in 2019

However, with the massive discount from the e-commerce platform, the prices for overall animal nutrition products have not changed much since the start of the pandemic. This will ensure that the market will substantially increase with the growing demand for the animal nutrition market.

IMPACT ON SUPPLY CHAIN

COVID-19 has printed a negative impact on the global economic outlook in the first quarter of 2020. The animal nutrition industry suffers from major supply chain disruption.

There is an evident lack of supply of various animal nutrition foods, supplements, and medications such as pet medication and so on.

For instance,

·         In March 2020, one of the prominent vendors of the feed market, Evonik, forced Majeure to fulfill the need for amino acids, especially threonine amino acids. The product of Evonik is facing the issue in the procurement of threonine due to the shutdown of the city

However, COVID-19 is accelerating a shift to e-commerce that was already reshaping the animal nutrition market. Social distancing has generated a surge in online orders and led to growth for new models like Click and Collect and Third-Party Delivery. The long-term "stickiness" of this shift will depend on the ability of thinly stretched online infrastructures to meet demand without long shipping delays or out-of-stocks. In addition, most of the consumers have been looking out for products from various internet platforms.

For instance,

·         According to the survey conducted by American Pet Products Association (APPA) in January 2020, 15% of the pet owners bought products through the internet sales channel, which is the second-highest after the superstore

·         Owing to the pandemic online pet product sales now makeup 30% of the total market, which has grown to 8 % since 2015

·         According  to its earnings report for Chewy, the sales rose to 47% in the retailer's fiscal year second quarter

·         According to a survey conducted by Packaged Facts of U.S. pet owners in 2020, 79% of owners said they're using the internet more, with 71% ordering and buying online more, 56% ordering/buying more with smartphone apps

The ease of buying products through online channels offers greater flexibility and safety to the owners of pets. Hence, the benefits offered by the e-commerce channels that provide accessibility and options to choose from a variety of products are expected to drive the market in the coming years.

EVENTS CANCELLATION

Due to the pandemic, the various conferences such as the animal nutritional conference and the trade show have been postponed or cancelled until further notice is provided by regulatory authorities. Most of the companies or manufacturers are organizing online webinars to educate pet owners for a better quality of life, even during pandemic times.

For instance,

·         American Feed Industry Association (AFIA) has cancelled their conference Purchasing & Ingredients Suppliers Conference (PISC), which was supposed to hold in March 2020. Animal Health & Nutrition Conference held by VICTAM in Bangkok will be held in July, and the U.S. Poultry and Egg Association (USPOULTRY) has been postponed

With this uncertainty caused by COVID-19 regulatory bodies have taken initiatives to start their conference on the digital platform.

For instance,

·         Alltech, one of the key players, converted its annual ONE Ideas Conference to a virtual format

·         In February 2021, The Pure Feed Company Ltd organized a webinar on understanding how and why to use supplements. This will help the company to educate the owners and, in turn, increase its business

STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE

Many governments are taking initiatives for pet food manufacturing.

For instance,

·         The Australian standard (AS5812) ‘Manufacturing and marketing of pet food’ specifies requirements for the production and supply of manufactured pet foods for cats and dogs. The Standard applies to both Australian made and imported pet foods and covers the production of pet food from sourcing and receipt of ingredients to storage, processing (including heat treatment), packing, labeling, and storage of products to assure its safety for pets

Thus, owing to these measures that have been taken by many associations, governments, awareness regarding animal health has been increased which impacts the demand for feed flavours and sweeteners ingredients in positive terms. 

Cambodia’s government is looking for private investors to help raise domestic animal feed production. In May 2020, the Khmer Times reported that the Cambodian government has reduced its imports of swine from neighbouring countries to support local swine production. Cambodia imports up to 70% from neighbouring countries hence, the government is primarily focusing to reduce imports and supporting local farmers for swine production. In the country, the demand for swine is about 8,000 per day, out of which local farmers can supply 6,000 per day. Hence, it is expected to impact demand for feed flavors and feed ingredients positively

As the Coronavirus outbreak has impacted the global animal nutrition market badly, several organizations have taken certain initiatives to provide their products in the market.

For instance,

"Our driving concern is the health and safety of our employees and their families. We have implemented measures to reduce COVID-19 risk to our customers, our employees, and their families while doing all we can to continue product supply to our customers. We are doing everything possible to continue the supply of Phibro products to our customers in every market while adhering to strict safety and quality protocols. We have increased our stock of raw materials and finished products to help ensure a continuous supply. We are in constant contact with our logistics partners to secure timely shipments to customers. We require our employees to work from home, where possible. Those who need to work at our facilities maintain social distancing and, where possible while working in shifts. Our sales and technical service staff are staying engaged with customers to service their needs through digital channels as much as possible.

All employees involved in production or logistics who must work on-site are adhering to strict hygiene protocols and social distancing, and where possible, we have implemented split shifts to reduce employee contact. We have also implemented increased biosecurity protocols for freight carriers who deliver and collect goods at our facilities."

-           Phibro Animal Health

 "As a global manufacturer, we operate in more than 90 countries on six continents, with manufacturing facilities in places like China, Italy, and Singapore – countries that have been severely impacted by COVID-19. Kemin remains committed to ensuring the same level of supply assurance as you are accustomed to. This type of incident is an anticipated scenario in our global end-to-end supply chain risk management strategy. We have prohibited all non-essential international and domestic travel for all our global employees. We are utilizing digital meetings and telecommunications to conduct business, and we are minimizing meetings with external parties to only those necessary."

-           Kemin Industries

"We are making location-based decisions on work-from-home policies based on individual situations, local regulations, and health official recommendations. We have business continuity plans for various scenarios and are prepared to respond if we see potential impacts on our business operations. We are closely monitoring the situation and are communicating regularly with our employees and customers through various channels as the situation continues to evolve."

-           ADM Animal Nutrition

Barentz International has entered in acquisition with pet food ingredient supplier Chicago-based Ingredients Inc.

"This is a promising new route, from which both parties will immediately benefit from each other's strengths,"

-Jim Stewart, founder and Managing Director of Ingredients Inc.

 "We are taking the potential risks of the coronavirus very seriously and are committed to doing our part to keep our colleagues, their families, and the communities where we operate safely. We are taking necessary precautions throughout our business, including:

·         Enhancing hygiene and cleaning protocols in all facilities

·         Implementing a minimal staff model at our critical global offices and facilities with all employees who can work remotely doing so

·         Prohibiting all non-critical travel for employees and contractors and all non-business-critical visitation to our facilities

·         Actively screening all visitors, including delivery drivers, for COVID-19 symptoms

·         Implementing procedures to address potential employee or partner exposure issues following CDC guidelines for mitigation and reaction, quarantining, and cleaning

We are closely monitoring the situation and are communicating regularly with our employees and customers through various channels as the situation continues to evolve."

            -ADM

CONCLUSION

COVID-19 outbreak has impacted positively on animal nutrition market. The animal nutrition industry is expected to grow substantially during the coming years, with the rising awareness among consumers that as pet holders.  But due to the social distancing, start-ups and many producers are facing restricted access to bring their products in the market. Many pet care manufacturing companies are taking various initiatives as a part of COVID-19 and creating awareness among the people. Due to COVID-19, most of the people are staying at home, and they are getting enough time for taking care of their pets, so they are inclined to buy pet food and supplement care products through e-commerce platforms, hence, creating a demand for animal nutrition during COVID-19 pandemic.

Thus, the impact of the COVID-19 pandemic has been neutral for the pet food market across many the globe compared to other feed ingredients segments, and hence, a stable growth can be observed in the industry during coming years, with many opportunities for new products development for the manufacturers.

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What COVID-19 Impacted on Potato Chips in Food and Beverages Industry ?

COVID-19 Impact on Potato Chips in Food and Beverages Industry

Countries worldwide have faced numerous consequences due to the COVID-19 outbreak. Most of the industries have been affected due to the COVID-19 pandemic, both in positive and negative ways. The pandemic has disrupted the economy of the U.S., which is considered one of the major economies in the world, by disrupting all the businesses. Government restrictions, shutdown of the businesses, and income losses are some of the reasons behind the disruption of the economy. However, the demand for some products grew even at the time of COVID-19 pandemic. Snacks, such as potato chips, tortilla chips, and others, have grown in demand during the COVID-19 as people were more concerned about stocking up food edibles. Consumers shifted to budget spending on ready-to-eat products with long shelf life products such as potato chips, tortilla chips, and others. Key players in the market have acquired small companies during the pandemic as the demand for potato chips was high.

For instance,

·         In January 2020, J.R. Simplot Company acquired Pinnacle Agriculture. This acquisition represents a significant and important milestone for the J.R. Simplot Company, and it will help the company reach new heights.

However, disruption in supply chain has directly affected the production of various small potato chips companies, further decreasing the growth rate during COVID-19.

STRATEGIC DECISION BY GOVERNMENT TO BOOST THE MARKET

The step that the government is planning to take towards the comeback of the food industry is to make the industry less dependent on imports. Most of the manufacturers have decided to reduce their dependence on China for supplies. Many companies are trying to shift their supplies from China to other countries. This is one of the steps suggested by the government in discussion with the potato chips manufacturing companies to keep the supply chain unhindered. The new rules and mandates were introduced and implemented for the people's safety such as social distancing, utilization of masks and sanitizers, and many others.

STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE

In 2020, the global potato chips market witnessed positive growth. However, the manufacturers of potato chips faced significant challenges during COVID-19 due to lack of transportation and disruption in the supply chain. To gain a competitive market share after COVID-19, the manufacturers have taken certain strategic decisions.

·         PRODUCTION OF PREMIUM QUALITY PRODUCTS:

Several manufacturers are focusing on producing high-quality products with innovative features to improve the demand among the customers. The premium potato chips are chips that are made with high-quality materials. Many manufactures have currently launched many new products during the COVID-19.

For instance,

·         In February 2021, Sietefoods.com introduced a new line of kettle-cooked potato chips. This launch will increase the customer base of the company.

Thus, the following instances show that the global potato chips market in countries U.S. and many others are expected to grow drastically. Furthermore, with the impact of COVID-19, the market for e-commerce and online shopping is likely to grow and lead the market in the coming years.

IMPACT ON SUPPLY CHAIN

As potato chips ingredients are derived from vegetables such as potatoes, the fluctuation in supply of these materials directly impacted the potato chips supply. Due to the outbreak of COVID-19, the supply chain suffered drastically. Manufacturers of raw materials had stock, but they were not getting enough demand. Moreover, companies faced several issues with the supply of raw materials as most of the country was completely shut down. In this situation, manufacturers faced untimely availability of raw materials.

Labor availability was another factor that affected the supply chain of potato chips. At several parts, the manufacturers were struggling for raw material reach, and at the same time, some were struggling to deliver the product. For a few manufacturers, the end-product was ready but could not reach their customers due to restrictions on transportation and thus losing revenue. Thus, the impact on supply is not due to one factor but was from multiple points.

IMPACT ON PRICE

The prices of potato varieties such as russet, yellow, red, white, fingerling, and purple or blue potatoes witnessed a decline due to outbreak of the COVID-19. The U.S. has significant demand for raw materials such as potatoes and this demand is generally fulfilled with local production.

For instance,

·         In May 2021, Frito-Lay North America is the convenient foods division of PepsiCo, Inc., they issued a voluntary recall of select 16 1/8 oz. bags of Ruffles All DressedPotato Chips because they may contain undeclared milk ingredients, because People who have an allergy or severe sensitivity to milk run the risk of a serious or life-threatening allergic reaction if they consume the product contained inside the recalled bags, this announcement was published by the FDA as a public service.

·         In August 2021, Ballreich Snack Food Co. Tiffin, Ohio, recalls its 1.5oz, 2.75oz, and 7oz packages of BAR-B-Q Potato Chips due to a potential contamination Salmonella. An organism which can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems.

Therefore, case of such recalls of products, containing allergenic ingredients and contamination of the products hampers the company popularity and revenue. T

IMPACT ON DEMAND

The demand for potato chips faced an incline due to the COVID-19 outbreak across the U.S. As most of the countries were under lockdown, the consumption of potato chips increased as it comes under ready-to-eat food items, which witnessed a significant demand in the lockdown period.

Thus, the potato chips industry witnessed an incline in the fiscal year 2020 due to the breakout of COVID-19. As the consumption of the potato chips and other type of snacks increased, major players in the food experienced an increase in revenue in fiscal year 2020-2021. In addition, there have been changes in the budgetary support from the government. Another application of potato chips is in confectionery products, convenience food product, and other industries and households. Since these industries have registered high sales during this pandemic, the demand for potato chips has also grown.

CONCLUSION

The potato chips is mainly used as a snack food. Owing to COVID-19 induced lockdown, the sales of potato chips increased as consumers resorted to filling their shelves with adequate food supplies.

Few manufacturers faced issues with supply of raw materials. At the same time, the manufacturers struggled to maintain the supply as per the demand. Also, the gap in supply chain hampered timely availability of end-product in the potato chips market. However, the situation has recovered, and the potato chips market is likely to see normalized growth as compared to 2020 levels as panic buying has disappeared owing to recovery of COVID-19 cases.

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Impact of COVID-19 on Mobile Apps in the Information Communication and Technology Industry

COVID-19 Impact on Mobile Apps in the Information, Communication, and Technology Industry

Overview:

The COVID-19 is a pandemic disease that has made the countries standstill for almost three quarters since November 2019 outbreak from China to all the countries worldwide. It affected the biological balance, world & country-wise economy, automotive sector, industrial sector, and others owing to which lockdowns were imposed for controlling the widespread of the viral disease. To prevent the rapid pace of disease spread lockdown is yet the better solution observed in many countries but it harms the economies of the developed as well as developing countries. One of the most common safety precautions imposed by all the countries is the introduction of lockdowns all over the country apart from daily needs services such as food items and groceries. The introduction of lockdown has resulted in the temporary closing of all operations for all sectors till unlock procedure is started by respective governments. COVID-19 pandemic has not only impacted health or medical concerns but also economical situations are facing consequences of this pandemic. These lockdown implementations resulted in a heavy impact on every industry, the majority of the businesses incurred losses. The pandemic situation dig a deep hole in customer’s financial incomes as companies are nearing recession, termination of employment, lay off and others problem are rising in the global market. The contact tracing apps simplify the administration process for health authorities. The government has found immense support from mobile apps to bring the COVID-19 situation under control. Contact tracing apps are a popular medium recommended by many health authorities.

For instance,

Remote work apps, educational apps, and healthcare apps were high in demand globally. There are no odds to work seamlessly from home without zoom cloud meetings, Slack, Skype, and other enterprise apps. Enterprises have embraced elastic workplace reality to witness a responsive and zero-latency transition while working from home.

Impact on Demand of Mobile Apps:

During Pandemic, certain mobile apps have made our lives much easier under house arrest. On-demand apps, grocery apps, entertainment apps, and digital payment apps have skyrocketed during the crises as people were not allowed to go out. Companies and businesses that have resorted to digital platforms at the right time have started reaping their benefits.

This pandemic is an eye-opener for businesses that consider mobile apps to be optional. This quarantined period has increased messaging, video calls, games, and video streaming among others soaring the market. The mobile app industry has more than 5 million apps that make it a crowded yet competitive world. However, it is growing at a rapid rate.

There is more demand for on-demand apps. Uber was one of the few companies that started to offer a demand-based pricing model, and it paved the way for a better user experience for many other popular apps. Starting from ride-sharing to food, healthcare, beauty, and travel there is always a need for on-demand apps everywhere. To date, 42% of the adult population has used at least one On-demand service. In 2021, the on-demand economy will go deeper into additional verticals and disrupt business and we are hoping to see on-demand apps as one of the key app development in 2021.

Impact on Supply of Mobile Apps:

The pandemic has resulted in the soaring market of the apps such as healthcare, remote work, entertainment, education, and many more. Due to quarantine, companies, educational institutes have shifted to the work from home criteria. Even the surge of education apps has gone a notch higher upon it. With online education gaining popularity, the teachers and students are depending upon it. In both situations, zoom meetings are the most used app in the market.

People also spent more time on social media and entertainment apps to keep themselves entertained. Be it on video streaming, music streaming, or social media. People are spending the majority of their time on these apps. The apps include popular apps such as Amazon Prime Video, Netflix, and MX Player. The number is sticking at a speedy rate that is affecting the ranking of the apps. This is proof of the go-to streaming apps popularity in the market.

Health and medical apps usage is slowly increasing at a fast pace and is predicted to grow in the future as well. People are opting for healthcare apps, fitness apps, and medication apps. Along with this, telemedicine and other healthcare apps are used to schedule an appointment for remote consulting, information on symptoms, secure messaging, and so on.

Many conventional shopping centers such as malls were closed for a long time. Grocery and e-commerce apps have left no stones unturned to ensure their users have their essentials stocked up during the lockdown phase. People could shop for almost anything and everything through online shopping apps. On top of the shopping apps, e-commerce wallet applications such as PayPal and Google pay have also enabled secure and easy digital payments.

Steps were taken by Companies during COVID-19 Situations:

Our lives reflect around the smartphone and mobile apps that are connecting us with the world. In this dire situation, mobile apps allow us to gather information at our fingertips. Be it entertainment, working, healthcare, education mobile apps are the major source of knowledge.

The businesses are taking precautionary steps to ensure that employees are safe and mobile apps are the way out. This COVID-19 curve is slowly flattening up and our only way to move ahead is to ensure that being consumers and service providers we work together.

The rise of chatbots is a major change in the mobile app industry. More than 50% of buyers want more do-it-yourself custom service tools to expedite making an online purchase, and chatbots are the perfect way to extend that sort of customer relationship management.

For instance,

Starbucks has released an app called ‘My Starbucks Barista’ in which any customer has to tell the app the kind of coffee you want and it places an order for you. With 80% of enterprises expected to use chatbots by 2021 and users expecting quick and precise answers, it is a real business opportunity to integrate a chatbot for a mobile app.

IoT-enabled mobile apps are gaining a market share. Brands like Amazon and Google have fully utilized this technology and have strengthened the competition in the IoT segment by introducing the “Echo” line of devices and Google home voice controller respectively. Moreover, Google’s move to acquire wearable company Fitbit for USD 2.1 billion and its collaboration with Nest, a home security camera manufacturer, is an indication that the company is moving fast to use IoT technology.

Conclusion:

It is quite overwhelming to realize how much are these apps downloaded and stay in demand, where grocery and food delivery apps, healthcare, and educational apps are topping the charts. They can certainly consider the industries where the app market is booming. It may be even wiser for the companies to build apps for the industry that is currently in an inactive state such as the travel industry. This is the industry for which no apps must be getting created now due to travel restrictions and by the time things get normal and the industry starts breathing back again, not many apps will be there in the market. Other such industries are the hospitality and airline industries.

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How COVID-19 Impacted on Compostable Packaging in Materials and Packaging Industry ?

COVID-19 Impact on Compostable Packaging in Materials and Packaging Industry

The outbreak of the COVID-19 pandemic has impacted the overall packaging industry, including the compostable packaging market. The compostable packaging 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 high volume growth and better earnings due to a rise in consumption of packaged food and increasing consumer preference towards the use of compostable packaging instead of plastic packaging. According to the survey conducted by compostable flexible packaging company TIPA, it has been revealed that the surge of COVID-19 has changed the consumer perception towards the use of plastic packaging. According to their survey, despite the pandemic, around 85% of consumers believe that compostable packaging should replace general food packaging, while around 58% are willing to pay more for the packaging.

Additionally, 67% of consumers have expressed concerns about increased plastic waste during the UK lockdown. This is expected to surge the demand for compostable packaging during and post-pandemic. However, the packaging industry experienced disruption in the supply chain due to the shut down 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 Compostable Packaging market

The pandemic of COVID-19 created a demand for flexible packaging due to growing awareness about hygiene and safety. The packaging industry has low exposure to the COVID-19 pandemic. At the same time, some of the small players and players operating in other sectors such as cosmetics, agriculture were left more vulnerable than others. Post COVID-19 has stabilized the demand for packaging for food, beverages, and pharmaceutical industries. Moreover, the unlocking of the situation and opening boundaries by various nations have regulated the supply of raw materials. Various governments are taking initiatives to regulate the supply of packaging for food, beverages, and pharmaceutical products. Additionally, various governments are liberalizing the regulation in the packaging industry to smoothen and regulate the raw material supply for the industry. Therefore, in the post-covid period, the demand for compostable packaging will increase moderately due to its benefits, such as being lightweight, portable, easy to carry, coupled with consumer behavior continuing to follow safety regulations.

STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE

Compostable packaging is gaining popularity across various industrial sectors all over the globe. Since the lockdown of COVID-19, the packaging 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 market's key manufacturers, such as product innovation and new product development to sustain the competitive market and meet the changing consumer trends. Adopting such strategic marketing policies by various competitors will help them gain competitive market share after the COVID-19 pandemic.

For instances,

·         In December 2020, KM Packaging launched a new range of compostable packaging products. The C-Range of bio-plastic packaging material includes shrink wrap, stretch wrap, adhesive tape, nets, and bags. This product launch will help the company to enhance its sustainable, flexible packaging product portfolio and help offer customers wide range of packaging choice

·         In June 2021, the Indian Government’s Defence Research and Development Organisation (DRDO) has developed plant-based packaging as an alternative to single-use plastics. The development will help the Indian Government to achieve the goal of completely ending single use plastic by next year

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 governments of nations across the globe, which resulted in the spike in the prices of compostable packaging. 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 packaging. At the same time, the price in the major packaging 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 packaging resulted in the subsequent price drop owing to its availability. The price impact on the compostable packaging market was relatively dependent on specific commodities.

IMPACT ON DEMAND

The COVID-19 has resulted in a surge of flexible packaging as they are considered more hygienic due to limited handling. During the COVID-19 pandemic, the demand for compostable packaging increased due to rising awareness amongst consumers to choose compostable packaging over plastic packaging. Growing awareness about the benefits of increased hygiene has surged compostable packaging in various industry sectors such as food, beverages, pharmaceuticals, and others. The pandemic outbreak has also resulted in compostable packaging among various regions due to rising environmental concerns caused by plastic packaging. Furthermore, the food, beverage, and pharmaceutical packaging business are demonstrating resilience in the current situation, while the companies involved in manufacturing packaging for sectors such as hospitality, cosmetics, and travel are witnessing a stagnant demand.

IMPACT ON SUPPLY CHAIN

The COVID-19 pandemic has highly disrupted the supply chain of raw materials used to manufacture compostable packaging. It was attributed to the lack of resources and transportation, which led to lower access, delayed stock, and supplies of raw materials products. Additionally, 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 compostable packaging have resulted in the unmet demand for compostable packaging in various end-users such as food, beverages, pharmaceutical, automotive, and other industries. Further, as there was a tremendous increase in demand for compostable packaging by pharmaceutical, food, and beverage sectors due to rising demand for convenience food and portable and handy hygiene products, the distribution had been significantly disrupted.

CONCLUSION

COVID- 19 pandemic has taken a toll on the population and economy. A collaborative effort on governments, public health departments, and hospital fraternity to fight the coronavirus has led to economic slowdowns, lockdowns, and extreme public safety measures. Due to the increasing health consciousness among the consumers, the demand for compostable packaging has constantly increased in the COVID–19 pandemic periods. It is likely to increase to avoid plastic packaging. This is mainly because of preventive measures the consumers follow for the COVID-19, which involves the intake of a healthy diet and consumer trend towards sustainable packaging. However, the supply chain has disrupted during the outbreak scenario because the demand was more for these products. Unlocking of lockdown and opening of boundaries across the world is expected to normalize the supply chain for the market, further attributing to the growth of the global compostable packaging market.

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COVID-19 Impact on Eco-Friendly Packaging in Materials and Packaging Industry

Eco-Friendly Packaging Market Forecast,

COVID-19 Impact on Eco-Friendly Packaging in Materials and Packaging Industry

INTRODUCTION 

Eco-friendly packaging is a kind of environmentally-friendly packaging usually composed of recycled or renewable materials considered sustainable for both individuals and the environment. It is also known as sustainable packaging or green packaging. Eco-friendly packaging can help decrease carbon emissions and create notably limited waste, thereby playing an important role in keeping the planet healthy. There are plenty of alternative packaging solutions that are biodegradable and recyclable such as paper, cardboard, corn starch, bagasse paper, and others. Moreover, some plastics and metals can be recycled, such as PET bottles, milk jugs, shampoo bottles, ice cream tubs, takeaway tubs, plastic utensils, plastic bags, and steel cans.

Although, the coronavirus pandemic has introduced different challenges for the economy and businesses across the globe. Lockdowns have strongly impacted the industrial transform processes that have existed for a long time. Impact on demand and decreased investment have caused major disruptions in supply chains and trading patterns in the global eco-friendly packaging market. COVID-19 is a respiratory disease, and there is no indication that food itself is a vector of its transmission. However, coronavirus, and measures to control its spread, have had profound implications for packaging, such as food security, nutrition, and food systems. This chaos in supply chains affected mainly packaging food availability in some cases, especially where proper packaging could not reach markets, putting pressure on prices on some scarce goods.

UPCOMING FUTURE OF GLOBAL ECO-FRIENDLY PACKAGING MARKET

After the COVID-19, the eco-friendly packaging market will increase in upcoming years because eco-friendly packaging development is a global objective that aims to address the societal challenge of climate action, the environment, resource efficiency, and raw materials. In this sense, an essential strategy is the promotion of green packaging, that is, the use of sustainable materials and designs for the packaging of goods. Moreover, the influence of eco-friendly packaging on the industry and purchasers, including the design and materials used in sustainable packaging, its costs, marketing strategies, and corporate social engagement related to green packaging, drives the market. The impact of eco-friendly packaging in waste management, logistics, and supply chain management also contributes to driving the global eco-friendly packaging market.

STRATEGIC DECISIONS FOR GLOBAL ECO-FRIENDLY PACKAGING MARKET AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE 

The COVID-19 pandemic has disrupted the world economy but governments, have tried to address and mitigate the challenges of COVID-19 and recover from the economic and social crises. These include eco-friendly recovery measures in their policy packages to address the pandemic's short- and medium-term socio-economic impacts. Few measures were not targeted at green sectors or activities. Nevertheless, they are likely to impact the environmental outcomes positively or negatively.

Governments across the globe realize the importance and advantages of eco-friendly packaging. It is considered an opportunity to undertake an extensive and fundamental restructuring of critical sectors and activities to support the transition to low-emission, climate-resilient, and resource-efficient economies in socially inclusive ways.

There are several actions taken by governments of some nations, such as the Paris Agreement for sustainable development goals and other international environmental agreements, such as the Aichi biodiversity goal, which will improve the well-being of communities and societies over the near future.

On the other hand, the government and eco-friendly packaging industries work together to boost the global eco-friendly packaging market. In Canada, Botanical Paperwork is an example of a company that offers a variety of plan table seed paper goods, including many sustainable, eco-friendly packaging options, that can develop into wildflowers, herbs, and vegetables. Moreover, an eco-friendly California marketing company specializes in customized products that include plantable business cards that come flat or folded with a selection of bulbs. This company’s products are made without harmful chemicals out of a hundred percent recycled materials and printed with vegetable-based inks.

IMPACT ON PRICE

During coronavirus, the industry has caused a huge shutdown, and sustainable industry stopped their manufacturing products, which negatively impacted the eco-friendly packaging market. Due to this, the shortage has driven prices too high. Millions of people worldwide were infected with COVID-19 disease. Except for the medical supplies and life support products, most industries have been greatly impacted, and the eco-friendly packaging market is no exception to it. There was an increased consumption in health care industries, medical equipment, and hygiene products to protect from the virus. In which eco-friendly packaging had a crucial role to play by packaging these commodities. This has impacted the price significantly.

IMPACT ON DEMAND

The spread of coronavirus has caused a vast shortage of eco-friendly packaging and, due to shut down in many factories, workers were going back home. The pandemic crisis has already led to some of the sharpest declines in demand for certain types of packaging. At the same time, it accelerated growth for others—such as packaging for e-commerce shipments that are emerging as lifelines in this new world. Such changes are presenting majority packaging companies with a new set of challenges.

According to the plastic recycling expert Vanden Recycling UK MD David Wilson, there has been a partial shift in public attitude towards plastic during the pandemic. The world is seeing ongoing demand for plastic packaging and increased use in some areas. That is going hand-in-hand with the ability to recycle packaging and the inclusion of recycled content. There has been no reduction in demand for PET and HDPE for use in plastic bottles, and other polymers are also in demand for other plastic packing applications. Therefore, the need for eco-friendly packages is likely to increase undoubtedly. However, it will continue to face stiff competition from substitute packaging materials.

IMPACT ON SUPPLY CHAIN

The COVID-19 has adversely affected the supply chain of inputs for many businesses, with lockdown policies affecting the movement of people and business operations such as transportation of goods and others. Since most countries restricted borders due to COVID-19, the volume of exports and imports has reduced and, retailers have found it challenging to deliver their products. On the other hand, the important relationship between packaging and logistics has been observed during the pandemic, and a new idea emerged called ‘Sustainable Packaging Logistics’ (SPL). SPL represents a link between green packaging and green transportation. Because both are eco-friendly, one green transportation comprises those modes of transportation that do not depend on diminishing natural resources like fossil fuels. These transportation modes rely on renewable energy sources. Another one is green packaging uses materials and manufacturing techniques to diminish energy use and reduce the harmful impacts of packaging on the environment.

CONCLUSION

Eco-friendly packaging, also known as green or sustainable packaging, is an emerging area of interest for scholars, researchers, and practitioners worldwide. It has also been observed that the enthusiasm to acquire eco-friendly packaged products of a significant number of buyers is also reliant on value. Moreover, from the business perspective, it has been witnessed that organizations are being forced to adapt green packaging initiatives due to the societal pressure derived from environmental concerns or customers.

Thus, during coronavirus, the government took a highly significant and diplomatic decision by which the situation is expected to improve over the coming years economically. Also, it has created favorable conditions for business activities and, at the same time, has increased the level of preparedness for the crisis in the future.

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Significant COVID-19 Impact on Polydiethylsiloxane Based Products (PES) in Chemicals and Materials Industry

COVID-19 Impact on Polydiethylsiloxane Based Products (PES) in Chemicals and Materials Industry

PolydiEthylsiloxane based products (PES) refer to the type of high-performance polymer materials available with indifferent chemical properties such as low flammability. The polydiEthylsiloxane based products (PES) have a wide range of applications in many industries such as personal care, healthcare, textile, and several other areas. PolydiEthylsiloxane based products (PES) have a huge amount of durable power that improves the efficiency of the final products. Thus due to the COVID-19 outbreak, the demand for such products has to hamper because of the complete lockdown scenario. But the limited production capacities, lack of workers at the factory level, and supply chain interruptions continue to cause difficulties for the manufacturers in the market.

Though, the manufacturers are constantly working with the chemical individuals to stabilize the demand for polydiEthylsiloxane based products. The overall sentiment of COVID-19 has weakened the consumer's interest in polydiEthylsiloxane based products and has minimized its usage. The government and other trade associations are trying to maintain the demand level and thus have taken various steps to equilibrium the demand and supply of the polydiEthylsiloxane based products in the market.

AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVES TO BOOST THE GLOBAL POLYDIETHYLSILOXANE BASED PRODUCTS (PES) MARKET

In the aftermath of COVID-19, the government has taken various steps in order to maintain the demand and supply of chemicals. The government is also supporting local producers to boost the demand and supply cycle, which hamper due to the COVID-19 pandemic. The government has decided to extend financial and procedural support to domestic companies to kick start local production. The government is considering various stimulus packages to boost the chemical industry.

STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE

PolydiEthylsiloxane based products (PES) are a major part of the cosmetics and personal care industry. The breakout of coronavirus has shaken the entire chemical industry. Due to this pandemic, most of the production got hit and created a panic situation worldwide. Thus, to maintain the demand and supply, the government took various strategic decisions for the manufacturers. The government supported the local manufacturers getting the raw materials at reasonable rates, which started availing at higher prices. This step helped the manufacturers obtain raw materials at a much lower cost and saved huge amounts of loss. Also, various governments have extended support to small and medium enterprises to reduce dependence on imports, and domestic demands can be catered.

IMPACT ON PRICE

The prices of polydiEthylsiloxane based products (PES) have been affected due to COVID-19. Also, the downfall in the supply of products in the global market has largely impacted the prices. On the other hand, the government imposed a lockdown in every country. It also canceled all domestic and international flights, which affected the prices of polydiEthylsiloxane based products (PES) and their raw materials. The manufacturers followed the government rules and regulations regarding COVID-19 and tried to start a new manufacturing unit in a different region, impacting the price of polydiEthylsiloxane based products (PES). So, they have shown an imbalance in the overall pricing of the polydiEthylsiloxane based products (PES).

IMPACT ON DEMAND

The polydiEthylsiloxane based products (PES) have witnessed a dip in demand in various regions due to weak requirements from end-user in the industry, especially in personal care, textile, and several other industries. Due to the economic slowdown, the demand for such products except essential commodities has decreased, eventually reducing the consumption of the things used in them. Also the decline in various production activities, the demand for industrial materials has faced a significant hit. In this way, the demand for the entire chemicals and materials market has been impacted.

IMPACT ON SUPPLY CHAIN

Due to the outbreak of COVID-19, the supply chain has suffered abruptly. Manufacturers have stock, but they are not getting demand for it. So, there is a situation of oversupply in the market. In this situation, both manufacturers and consumers are facing the timely availability of raw materials.

The restriction over transportation and labor availability is another factor that has affected the supply chain of polydiEthylsiloxane based products (PES). At several parts, the manufacturers are struggling for raw material reach, and at the same time, some are struggling with delivering the product. Thus, the impact on supply is not due to one factor but is facing a hit from other manufacturing points.

CONCLUSION

The pandemic 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.

It continues to inflict the world with appalling economic and social dilemmas, capable enough to leave severe backlash on the economy for the next several years. The first wave had already inflicted severe blows to the population as well as the economy. The currently experiencing second wave is expected to be more disastrous to the masses and several markets.

Firstly, the trade war between China and the U.S. has impacted the economy and the outbreak of COVD-19. These two unfortunate events have led to disturbance in the availability and the pricing of various market growth, including polydiEthylsiloxane based products (PES). Though the imbalance between demand and supply and its impact on pricing is considered short-term, it will not have a long-term impact on price.

Due to the continuous dropping requirements in application, the manufacturer’s margin is also declining, which they earn from providing polydiEthylsiloxane based products (PES) to various areas. Also, with the continuously dropping requirements of chemicals and materials used in various production activities, the manufacturers’ margin is declining, which they earn from the supply of polydiEthylsiloxane based products (PES). The government is taking steps such as relaxation on tax, fiscal deficit, and others to minimize the impact and maintain the equilibrium in the global market.

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Significant Impact of COVID-19 on Benzene | Chemicals and Materials Industry

COVID-19 Impact on Benzene in Chemicals and Materials Industry

INTRODUCTION

Aromatic compounds are organic chemical compounds that are derived during the distillation of crude oil in refineries. Some of the major aromatic compounds are benzene, toluene, aniline, cumene, styrene, xylene, and others. Benzene is one of the simplest (in terms of composition) and a widely used aromatic compound. It is obtained as a co-product during steam cracking of gas oil. Other than this, benzene is also obtained during catalyst reforming of hydrocarbons. It is also used to make other aromatic compounds such as nitrobenzene, cumene, ethyl benzene, and others.

The entire world is facing the effects of the COVID-19 pandemic in various sectors and industries. As China is the producer and supplier of most of the raw materials or inputs in various industries, the outbreak of the virus in China has disrupted the entire economy. China being the most significant producer and consumer for chemicals, the entire aromatic chemicals industry has been affected. After China, the chemical industry will be affected severely in India and the U.S.

The outbreak of novel coronavirus in China had the most critical impact across the Chinese chemical industry, as the movement of all types of chemicals inside the country and outside the country had suffered. Most of the industries were shut down from the beginning of January 2020, which restricted both demand and supply for benzene. Industrial, traffic, and social activities were largely suspended in China, effectively reducing the intensity of pollution emissions and air pollution levels. As per the data published by the Ministry of Ecology and Environment of the People’s Republic of China PM10, PM2.5, SO2, and NO2 in 337 cities in China decreased by 30.0%, 27.3%, 23.1% and 28.0%, respectively, compared with the values for February of 2020, and the decline was more significant than other winter months.

GLOBAL IMPACT 

The entire chemical industry including aromatic chemical compounds has witnessed a decline of more than 5% earlier this year. This decline percentage has increased to around 20% as the effect of coronavirus has intensified. Also, the sudden outbreak of second wave has again hit the market and the supply chain, which was into the building zone, got demolished once again. The appearance of new variants of COVID-19 has still positioned a threat on the market. Major reason behind the continuous decline is raw material and labor shortages as well as government-mandated plant shutdowns. Also, the dual impact of the pandemic that resulted in shutdown and the March 2020 oil price collapse has exacerbated the oversupply situation that some U.S. chemical producers already faced. This resulted in dip in demand in both local and global markets.

The benzene market is dependent on various raw material inputs, such as oil, gas, coal, minerals, and bio-based materials. Apart from this, any impact on end-user companies will have huge implication over the industry. Benzene is used across a broad range of industries to manufacture various chemicals used to produce plastics, resins, and nylon and synthetic fibers. Benzene is also used to make some types of lubricants, rubbers, dyes, detergents, drugs, and pesticides. All these industries are facing downturn in almost all parts of globe and thus have resulted in decreased demand for benzene and other aromatic compounds.

IMPACT ON DEMAND

After the outbreak, the demand for benzene has been observed inconsistent across distinct segments. Before the COVID-19 eruption, benzene ranked in the top 20 chemicals for production volume. As it works as a raw material for production of plastics, resins, and nylon and synthetic fibers along with lubricants, rubbers, dyes, detergents, drugs, and pesticides, many industries are dependent on it. Any impact on the demand of these products, directly impacts the demand of benzene. Soon before the challenge of the pandemic is over and market conditions return to pre-outbreak stages, benzene suppliers will need to make well-informed structural adjustments and restructure their firms to handle this uneven demand scenario.

As benzene can also be prepared naturally through volcanoes and fire outburst in forests, many countries have noticed higher benzene concentration. This has definitely increased the production of benzene, but the demand is still struggling to match up the mark. In some countries, as the nation was facing lockdown, many industries were shut, the amount of benzene is air was reduced by 62%.

IMPACT ON CHEMICAL MANUFACTURING COMPANY 

For companies that are into the production of benzene or any other aromatic compounds, the pandemic has had a mixed effect. For certain product lines, low oil prices lowered raw material costs, although the closure of Chinese plants also allowed factories from Europe, the U.S. and India to fill the gap and raise order intakes. Disruptions in the supply chain, however, have contributed to sourcing difficulties for many suppliers. Significant logistics difficulties are also faced by industries relying on Chinese raw materials.

Major effect on demand and supply of benzene was felt by the suppliers in Q2 of 2021 rather than in Q4 of 2020. Reduced earnings have already been announced by various aromatic compound manufacturers for Q1 2020. Though many emerging economies have lifted the lockouts, it is not expected that the demand will rise significantly, so these businesses will mostly undergo a U-shaped recovery. Once factories reopen and supply chains become more fluid, benzene producers are most likely to meet their current order obligations before the end of 2020. How early lockdowns are removed in different parts of the world and how rapidly the world will recover from the pandemic will depend on the time taken and scale of recovery.

RESTRICTION ON LOGISTIC SUPPORT

The restriction on logistics has been the main challenge for all sectors of the industry. The countries were divided into divided into thousands of islands by the isolation policy when the spread of coronavirus was on its peak. There was huge restriction on movement of people and goods. In a bid to contain the virus, people and cargoes were separated between provinces, cities, towns or even villages. The railways were also stopped in several countries and where it continued to operate, the loading & unloading have been constrained by a shortage of labor resulting at one point in the transport capability dropping by some 50%.

Transportation has been seriously impacted. As for cross-border travel by vehicles, if the route had not already been closed, the drivers had to be quarantined for two weeks. Vehicle traffic was often constrained by the provinces coming from states or areas where the crisis was worst. Transportation via water sources was the only alternative left, but even in that situation, many ports declined to work and offer their services. For instance, ports in Jiangsu, refused barges from Hubei to dock.

Logistics continue to be a problem for the sector even after the change in the overall conditions. While there are no government road blockages, both for transport purposes and at the plants themselves, there is still a lack of labor. It is expected that it will take some weeks still before normal activity across the whole industry is resumed. In the meantime, supply of Chinese benzene has tightened prompting prices to firm both in the domestic and export markets.

TRENDS THAT EMERGED POST COVID-19 IN BENZENE MARKET 

The speed of business-to-business (B2B) trade adoption in chemicals has been slower than in other B2B sectors until recently. Chemical transactions on US B2B e-commerce websites are increasing at a compound annual growth rate of 3.7 percent (CAGR; 2017-2020), compared with a CAGR of 13.6 percent during the same period for total US B2B e-commerce sales. In a recent study, two-thirds of 76 managers of the chemical industry shared their reliance on other market goals or capability constraints as the key reasons why digital commerce has not been embraced more rapidly by the chemical industry to date.

CONCLUSION

The chemical industry and aromatic chemical compounds market is in the recovery phase. Initially, the industry had to face severe outcomes as China was the first country where this disease was spread and China itself is the major producer of chemicals. Because of this the entire world market was disturbed. Now when the China has almost recovered from this disease, the rest of the world is still struggling and thus, the industry is not up with full capacity.

Things will take time, but the benzene market will buck up soon as they are the pillars of global economy. The Ministry is constantly making efforts so that the industry can once again be back on track and the availability of all raw materials and products will become normal.

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COVID-19 Impact on Laptop | Information and Communication Technology Industry

COVID-19 Impact on Laptop in Information and Communication Technology Industry

The pandemic started with its epicenter in China in 2019 and has been continuously spreading by then to all over the world. So far, 216 countries and territories have been affected by COVID-19. The U.S. is on the top with cases reaching about 4.38 million, followed by Brazil, India, and then many European countries such as Russia, Spain, Italy, and others. The COVID-19 cases are reaching the big named countries with strong dominance in the global market, which has adversely affected the economy globally. The spread of the coronavirus has led to the global recession. Many companies are being bound to take stringent actions of laying off their employees. Small businesses are being shut, and manufacturing facilities are being put on hold. There has been a disruption in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities. In addition, the slowdown in the economy has lowered individuals' spending capability, and people are saving money for emergencies.

For instance,

·         The world bank stated that the global economy was expected to reduce by 5.2% in 2020. Emerging market and developing economies (EMDEs) were expected to decrease by 2.5%, and the economic activity in advanced economies might get reduced by 7% in 2020

·         The U.S. witnessed a decline of 4.8% on an annualized basis in the first quarter of 2020. In addition, the slowdown in the economy also lowered the spending capability of individuals, and people are saving money for emergencies

However, the situation seems to be improving now, and the economies of various countries are growing at a significant rate. Almost in every country, the factories have started to reopen by taking some prevention such as 20%-50% employees on the field, social distancing, extreme hygiene measures, and others to support the economy. It is supporting the economy and helping to lower the recession rate at a certain level.

The pandemic has boosted the growth of the global laptop market. In response to the COVID-19 virus, many companies are moving towards working in a more virtual environment. It has placed a focus on organizations embracing collaboration tools and practices to support the virtual workplace. Organizations worldwide are supporting the BYOD model (bring your own device) to enable sales professionals to serve their customers and prospects better. Moreover, government mandate of work from home (WFH) policies has driven organizations to increasingly focus on more effective ways of engaging with customers in a remote working environment. Shifted focus towards work-from-home requires reliable connectivity and a laptop. Thus, businesses will demand laptops which increases the demand for laptops around the world. The surge in work-from-home and study-from-home due to the COVID-19 pandemic has meant good news for the global laptop market.

For instance,

·         In November 2020, Dell saw a rise in the sales of laptops due to the rise as demand booms for remote-work tools. Also, Lenovo saw increased demand for laptops during the coronavirus pandemic

IMPACT ON DEMAND

The pandemic has boosted the digital transformation of industries. Companies are focusing more on digital technologies to interact with their clients and customers. There is an upsurge in the demand and adoption of laptops due to government mandates for working from home and online learning. Moreover, the gradual spike in demand observed was due to the shift of consumers from traditional platforms to online digital platforms.

For instance,

·         In February 2021, According to IDC, the laptop market registered another strong quarter in October-December 2020, with shipments growing 27% y-o-y to hit 2.9 million units due to e-learning, gaming, and work from home (WFH)

The below figure shows an increase in the global laptop shipments from the year 2015 due to the continuous demand for laptops for commercial use.

FIGURE 1.    GLOBAL LAPTOP SHIPMENTS, FROM 2015 TO 2021

IMPACT ON SUPPLY CHAIN

The supply chain was adversely affected in the initial phase of the pandemic as lockdown prevailed in many regions globally, and the government and organizations had limited the number of workers in factories. Companies were making their operations work according to the government regulations by making limited workers work in different shifts. Industries were facing operational and supply chain disruptions, breakdowns, and labor shortages. Most laptop providers had a large backlog of orders in hand due to chip shortages because of the disruption in the supply chain. However, there is an improvement in the supply chain as most of the facilities and travel restrictions have opened and working in the most optimum capacity. The companies are doing their best to meet the increasing demand.

LONG TERM STRATEGY ADOPTED BY MANUFACTURERS OR STEPS TAKEN

As the COVID-19 crisis continues to expand, makers would possibly face challenges on varied fronts. Producing firms would be searching for immediate measures to keep their workforces safe and their businesses solvent. Makers would conjointly have to be compelled to look on the far side of their economic viability. Because the COVID-19 pandemic intensifies, makers would possibly face continued pressure on demand, production, and revenues. They'd continuously face cash-flow liquidity challenges and difficulties in managing debt obligations. The pandemic has boosted the growth of the laptop market. Thus, developers and providers are focusing on strategic decisions like partnerships, acquisition, product launch, mergers, and collaborations to meet the increasing demand in the COVID-19 outbreak.

For instance,

·         In January 2021, HP Inc. had been looking to meet the continued strong demand for PCs, displays, and accessories with its new portfolio of devices. In 2021, the company launched the HP Elite device lineup, which includes new additions in the Elite Dragonfly notebook series, the introduction of the brand-new Elite Folio convertible, updated EliteBook models, and a new Elite x2 tablet

·         In June 2020, Lenovo introduced the IdeaPad Slim 3 in the market. This IdeaPad Slim 3 is available in 14-inch and 15-inch screen sizes. The IdeaPad Slim 3 is a thin-and-light machine featuring Intel's 10th generation processors, hybrid storage, Wi-Fi 6, and more. The notebook starts at Rs 26,990 and goes up to Rs 40,990. The company has launched the product to meet the increasing demand for laptops in the market

CONCLUSION

Pandemic 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. It still continues to inflict the world with appalling economic and social dilemmas, capable enough to leave severe backlash on the economy for the next several years. The first wave had already infected severe blows to the population as well as the economy. The second wave is expected to be more disastrous to the masses and financial markets.

As the COVID-19 prevails, the global laptop market is observing a huge rise and high demand due to the growing need for digital activities and growing trend of work from home and study from home, thereby resulting in improved growth of the market. Moreover, it is expected that post-COVID laptops will continue to focus on the ability to process heavier applications such as games, graphic rendering, and data processing. With advantages in speed and low latency of 5G networks, storage can be moved to the cloud, opening up new capabilities for 5G laptops. The key players are doing their best to meet the increasing demand despite disruption in the supply chain activities. Manufacturers are focusing on partnerships and collaborations to meet the increasing demand in the COVID outbreak.