![]() ![]() This is further expected to affect the undergoing projects and the interrelated market.įurthermore, complete lockdowns have substantially impacted the manufacturing sector. Demand for raw materials have dropped, thus, decreasing the prices. What Was The Impact Of COVID-19 Crisis On Global Petroleum Jelly Market?ĬOVID-19 has disrupted the supply chain due to closure of national and international sectors including manufacturing and project developments. Social media platforms and search engines are playing key roles in enhancing awareness among consumers and e-Commerce plays a vital role for small- and medium-scale players in the supply chain. There are several videos posted on YouTube to gather detailed information about the product. ![]() Several social media platforms including Facebook, Twitter, LinkedIn and Google+, contain information (images, videos, links or written texts) about its advantages, applications, types, and distinguishing factors between several grades, posted by manufacturers or distributors or even consumers. Among the various ways of selling or marketing a product, social media stands out as one of the trending mediums. Internet, being the key source of marketing, has also played a key role in raising awareness regarding the various applications of petroleum jelly. How Online Marketing Promoting The Sales Of Petroleum Jelly?Ī major trend gaining momentum in the petroleum jelly market is increasing use of online methods to market and sell the products. Furthermore, growing investment in manufacturing industries and downstream products utilization to fuel the market demand in the coming years. Petroleum jelly is employed as a moisture reduction agent and a grooming aid in a wide range of skin treatments, cosmetics, and hair products. As a result, FMI expects the market to grow by 3.5% in the first half of 2022, resulting in a 20 bps loss as compare to the earlier projections. Further, owing to certain alternative solutions available in the market, the demand is moving towards a declining growth.Īlso, competition from natural products manufacturing pharmaceuticals and cosmetic companies is a primary restraint to slowing down the growth. Prices have risen as demand for raw materials has soared, which impacted the industrial production and sales. Over the first half of 2021, global sales of petroleum jelly increased by 4.2%. The market is primarily driven by significant growth in demand from pharmaceutical and cosmetics and personal care products. The study has been revisited to recognize the growth outlook of the petroleum jelly market based on current market dynamics and industry trends. How The Market Progressed Till June 2022?įMI provides a half yearly comparative analysis and key market insights for petroleum jelly along with industry and macro-economic factors influencing the growth of the market. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |