Key Takeaways

•  Rapid Urbanization, increasing meat consumption, expansion and investments, and population growth are some animal feed and nutrition market drivers.
• Janitorial and cleaning services market drivers include hygiene and wellness market place, growing disposable incomes, growing economy, and demand for disinfection, specialized cleaning, and green cleaning.
• Industrial product distribution market drivers include investments to upgrade aging grids, IoT advancement, and improved grid reliability and operating efficiency.
• Wholesale clothing distribution market drivers include investments in automation, investments in inventory and order management system, increasing importance of B2B digital commerce, a stable economy, and companies rearranging their operations to recover from the COVID-19 impact.

Introduction

Animal Feed and Nutrition Industry Drivers

Rapid Urbanization and Increasing Meat Consumption

• Rapid Urbanization is one of the major drivers of the Animal feed and nutrition market.
• Urbanization leads to significant changes in the demand for agricultural and animal products both from increases in urban populations and from changes in their diets and food demands.
• The increased demand for meat and animal products leads to an increase in demand for animal feed.

Outburst of Disease

• The increasing outbreak of disease is a key factor driving the animal feed market as farmers are increasingly demanding better feed and feed with additives to ensure their livestock is healthy.
• The growing concerns about animal health and the belief that healthier feeds can help improve the overall health of animals and their ability to ward off diseases are expected to keep driving growth in the market.
• Good animal nutrition leads to a healthier gut in animals which also has beneficial effects for humans.
• According to industry experts, "promoting a healthy gut in animals can also lead to safer food by reducing the animal risk of contracting salmonellosis and campylobacteriosis, which are primary examples of diseases that can be transferred from animals to humans. The control of these diseases starts in the animal itself by reducing the occurrence of these pathogens in their gut."

Expansion and Investments

• Companies in the industry continue to invest in better animal feed and nutrition products and are increasingly expanding to new markets.
• According to Research and Markets, "high growth in the animal feed market is aided by the growth strategies of major players in the form of expansions and investments, which also helps in enhancing the product portfolio and reaching out to new target markets."
•  Expected stable economic growth in developing markets is also driving investment and expansion in the animal feed market and subsequently driving the growth of the animal nutrition market.

Population Growth

• The population growth of humans and livestock is a major factor driving the animal feed and nutrition markets.
• More animals are needed to feed the growing human population. For instance, the demand for poultry meat and eggs is expected to increase by 121% and 65%, respectively, by the year 2050 due to increase in the world's population.
• Each year, more livestock are slaughtered to meet the growing demand for meat from an ever-increasing human population.
•  
  Source
   

Janitorial and Cleaning Services Drivers

Hygiene and Workplace Wellness

• The Janitorial and Cleaning service industry is driven by increasing awareness among consumers on the need for hygiene.
• Workplace wellness is also a growing trend, and offices are investing more in cleaning to ensure the workplace is clean and pathogen-free.
• The demand is even higher given the rising number of airborne diseases.

Growing Number of Businesses, Economy, and Disposable Income

• A major driver for the janitorial and cleaning service market is the growing overall economy and a stable rate of business formation.
• The majority of revenue generated in the industry is from the "commercial market because outsourced cleaning services are primarily contracted by corporate offices, industrial and retail clients." Hence, a stable rate of business formation will increase demand for janitorial services.
• The growing economy has also led to a rising per capita disposable income, allowing more individuals to afford outsourced cleaning services, which has led to revenue growth.

Demand for Disinfection and Specialized Cleaning

• The COVID-19 pandemic has led to a growing demand for specialized cleaning and disinfection service to help deal with the virus and meet regulatory requirements.
• In light of the COVID-19 virus, experts expect that "education, healthcare, and medical-related industries, which outsource the majority of their cleaning requirements, will likely provide sustained demand for industry services."
• According to ZipRecruiter, the janitorial service industry in the US has seen a spike in growth due to the pandemic. "In an industry that from 2014 through 2019 enjoyed only moderate growth at 1.7% annually, coronavirus is now causing a 75% spike in new job openings in March [2021] compared to a year earlier."

Demand for Green Cleaning

• The growing demand for more environmentally friendly cleaning services is also helping to drive revenue growth in the market.
• Commercial end-users increasingly prefer green cleaning technology, which includes the use of sustainable washing agents, special chemicals, techniques, and equipment.
• Green solutions are made from plant-based, natural, and sustainable sources and solutions which are harmless to the environment and humans.
• Janitorial service companies are increasingly promoting it to commercial end-users as an effective alternative as conventional cleaning products pollute the air, water, and land.

Industrial Product Distribution Drivers

Investment to Upgrade Aging Grid

• According to a market research report by Markets and Markets, the need to upgrade aging grid infrastructure is a key driver for the distribution automation market.
• A report published by the U.S. Department of Energy in 2015 revealed that "70% of power transformers are 25 years of age or older, 60% of circuit breakers are 30 years or older, and 70% of transmission lines are 25 years or older."
• In the US, aging grids are currently driving about $51 billion in spending annually.
• Aging grids are not just being replaced but are also being prepared for the future.
• The smart grid market is a segment of the market benefiting from this, and growth in the market is also being driven by aging grid infrastructure.

IoT Advancement

• Recent advancements in IoT and communication technology is a key factor driving the automation distribution market.
• Major companies are investing in IoT devices and the equipment needed to set up and run the technology.
• According to Robbie Paul, director, IoT business development executive for Digi-Key Electronics, IoT “has been a significant driver of Digi-Key’s business over the last three years, and that growth continues to accelerate."
• IoT has also resulted in increased demand for sensors and ARM-based microcontrollers as well as other components.

Need for Improved Grid Reliability and Operating Efficiency

• The need for improved grid reliability and operating efficiency is driving sales in the industrial power distribution market.
• Government initiatives to promote the use of energy-efficient power generation resources is a key driver of the market.
• Utility companies are also increasingly investing in "improved diagnostics to give grid operators more visibility into the system and enhance grid reliability, flexibility, and resiliency."

Wholesale Clothing Distribution

Digital Commerce

• The wholesale clothing distribution market continues to be driven by B2B e-commerce channel.
• Recent data from Joor shows that despite the return of in-person shopping in 2021 after the COVID-19 pandemic, "electronic B2B commerce continues to play an important and ever increasing role in the fashion ecosystem."
• For instance, "the volume of wholesale transactions (GMV) passing through the JOOR platform increased 60% from 2020, averaging over $1.5bn per month."
• According to industry analysts, "distributors have learned that an impressive online store-front is very important; however, the back end inventory management system is equally critical to ensure customers are satisfied with their shopping experience."
• The uncertainty surrounding public health have led to reduced travels and even fashion weeks and market shows have become hybrid event.

Steady Economic Growth and COVID-19 Recovery

• The wholesale clothing distribution market is expected to gain from the steady economic growth expected for most countries.
• The International Monetary Fund (IMF) forecasts that the global GDP will grow by 3.3% in 2020 and 3.4% in 2021.
• The rising disposable income is expected to help spur the growth of the market.
• According to the Business Research Company, the growth in the wholesale distribution market in 2021 was "mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges."

Investments in Automation and Inventory and Order Management

• Wholesalers are increasingly investing in "new inventory management technologies that allow them to make data-driven business decisions and handle business operations centrally."
• Wholesale distributors are increasingly "investing time and money into “integration friendly” inventory management systems, changing the supply chain, and marrying B2B selling with the B2C customer experience."
• The market is also being driven by investment in automation and tracking innovation, which allows wholesalers to more effectively manage operations and make more informed decisions about staffing, shipping, and warehousing.
• According to the Business Research Company’s market report, "the use of analytics in the wholesale trade market is enhancing supply chain efficiencies by anticipating future demands of the customer."

Research Strategy