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The global business travel market is currently experiencing moderate growth. Business travel, also known as corporate travel, is a journey explicitly undertaken for work purposes or to expand business operations. It includes traveling to a different branch of the company, or to a different location to meet with suppliers and buyers, or for conferences and business events. In recent years, the rapidly globalizing world has accelerated the trend of business travel, which collectively includes client meetings, brand and product promotion, business expansion, and employee training and incentives.
The global market is primarily being influenced by the increasing digitization in the tourism and corporate sectors. In line with this, growing penetration of the Internet of Things (IoT) has enabled both the travelers and the travel operators to get things done swiftly and with ease. Along with this, the virtual reality (VR) technology also provides better, efficient and personalized customer experiences, thus bolstering the market growth. Apart from this, the rising trend of Bleisure travel, which incorporates business with pleasure elements and offers leisure or recreational activities to relieve stress and improve work efficiency, has provided a positive thrust to the market. Large-scale developments in the travel and tourism sector, an increase in small and medium enterprises (SMEs) and fast-paced globalization has led to a rise in the number of business travelers. This, along with tie-ups of several corporate organizations with the leading business travel companies to provide customized collaborative spaces and team-building exercises, is acting as another major growth-inducing factor. Looking forward, IMARC Group expects the global business travel market to grow at a CAGR of 7.6% during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global business travel market report, along with forecasts for growth at the global, regional and country-level from 2021-2026. Our report has categorized the market based on region, type, purpose type, expenditure, age group, service type, travel type, and end-user.
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Breakup by Purpose Type:
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Breakup by End-User:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Airbnb Inc., American Express Company, BCD Travel, Booking Holdings Inc., Carlson Wagonlit Travel Inc., Expedia Group Inc., Fareportal Inc., Flight Centre Travel Group, Hogg Robinson Group, Travel Leaders Group LLC, Wexas Travel, etc.
The global fresh cream market reached a volume of 8.2 Million Metric Tons in 2020.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards e-commerce platforms for the purchase of fresh cream.
The extensive usage of fresh cream in the food manufacturing industry, along with the changing consumer dietary preferences, represent some of the key factors catalyzing the global fresh cream market.
We expect the global fresh cream market to exhibit a CAGR of around 4% during 2021-2026.
On a regional level, the market has been classified into Asia, Europe, Middle East and Africa, North America, and South America, where currently Europe dominates the global market.
Some of the major players in the global fresh cream market include Lactalis International, Nestlé S.A., Fonterra Co-operative Group Limited, Danone S.A., Dairy Farmers of America, Inc., and Sodiaal S.A.
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