Powering the Future: Electric Vehicles (EVs) Procurement Intelligence Insights

The electric vehicles (EVs) market is anticipated to witness growth at a CAGR of 14.5% from 2023 to 2030. In 2022, Asia Pacific accounted for 51% of the market share followed by North America and Europe. Asia Pacific is the most lucrative region in terms of revenue as there’s an upsurge in the adoption of EVs particularly in China, India, and Japan. In addition, due to the easier availability of battery raw materials and lower production costs, several key players are eyeing China to set up their manufacturing facilities.

Leading markets such as China, the US, and Germany are spending heavily on EVs, charging infrastructure, and research & development for effective charging technologies, longer-range EVs, and more affordable batteries. In addition, stricter government rules across the globe are one of the key factors driving up demand for EVs. For instance, the European Union has set a goal of achieving net-zero emissions by 2050. The electric vehicles category is witnessing increased adoption of V2G (vehicle-to-grid) technology which enables drivers to get the most out of their charging, while also optimizing the grid network for a much larger number of vehicles, or a home network that allows homeowners to go off the grid.

The COVID-19 pandemic significantly affected the market in 2020 and 2021. The number of on-road vehicles abruptly decreased. However, after June 2020, when the lockdowns were lifted in most nations, sales of all sorts of EVs increased. BEV and HEV sales in particular dominated the industry. As OEMs prepare to introduce new EV models in the upcoming years, the period between 2023 and 2025 is anticipated to be a prosperous period for EV sales. Growth of the category is anticipated to remain brisk due to the government's strong support for vehicle electrification and the drop in battery prices

Order your copy of the Electric Vehicles (EVs) Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Electric Vehicles Sourcing Intelligence Highlights

• The global electric vehicles category is moderately fragmented, with top players in the market based in parts of Europe, Asia, and North America.

• China is the largest manufacturer of EVs and exporter of EV batteries across the world, particularly in Europe.

• Despite being a competitive industry, the bargaining power of buyers is low as electric vehicles encompass a higher cost of production, and due to costlier batteries and other technical aspects, the scope of negotiation is almost negative.

• Vehicle cost, financing, insurance, purchase taxes, annual registration fee, maintenance costs, and other additional expenses are the major cost components of this category. Other expenses can be further bifurcated into home charger cost, electricity purchase, liquid fuel purchase, electricity taxes, and liquid fuel taxes.

List of Key Suppliers 

• BMW AG

• Tesla, Inc.

• Volkswagen AG

• General Motors Company

• BYD Company Limited

• Mercedes-Benz Group AG

• Nissan Motor Co., Ltd.

• Toyota Motor Corporation

• SAIC Motor Corporation Limited

• Stellantis N.V.

• Ford Motor Company

• Hyundai Motor Company

• Renault SAS

• XPeng Inc.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Electric Vehicle Battery Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Electric Vehicle Charging Connector Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Electric Vehicles Category Procurement Intelligence Report Scope 

• Electric Vehicles Category Growth Rate: CAGR of 14.5% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% (Annually)

• Pricing Models: Cost plus pricing model, fixed price pricing model

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Type of EV, driving range, power & torque, charging specifications, energy consumption, type of battery and capacity, and other factors

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

A Closer Look at the Business Intelligence Procurement

The business intelligence category is expected to grow at a CAGR of 9.1% from 2023 to 2030. Statistics show that the United States and Canada are the largest users of the software in North America. The growth is fueled by the rising need for digital business processes and obtaining the ideal strategy for effective outcomes. Businesses are concentrating on adopting the technology for efficient functioning, simple data processing, forecasting, transparency, and many other reasons. For instance, the statistical analysis model ARIMA (Autoregressive integrated moving average) analyzes time series data to either better comprehend the data set or forecast future trends. Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing (NLP), Analytics-as-a-Service (AaaS), data security, and data quality management are several sectors that are growing in importance inside firms and pushing them toward the implementation of business intelligence.

Companies are constantly concentrating on forming alliances or creating their own technology. For instance,

• In July 2023, Thoughtspot, a provider of analytics platforms, purchased Mode Analytics, a developer of business intelligence tools, for USD 200 million. This is done to increase annual recurring revenue (ARR), double the number of customers, and broaden the technological options available to data analysts and data engineers.

• Recently in May 2023, an expansion is done in RISE with SAP by availing it on Google Cloud, a desire of SAP and Google to create better outcomes for customers by simplifying administration, analytics, and operations. In addition, it provides a vast and extremely secure network with high performance and built-in availability. The customers will be able to benefit from a cloud migration roadmap and the Google Cloud Platform's planned global availability of SAP services.

• MicroStrategyONE, an analytical platform built by MicroStrategy, the largest autonomous publicly held analytics and business intelligence company, in alliance with Microsoft. It assists businesses in making the most of their data and advancing their artificial intelligence (AI) capabilities.

• HCL Technologies (HCL), a well-known worldwide technology business, acquired Starschema in January 2022. Starschema is a leading provider of consultancy, technology, and managed services in data engineering to worldwide 2000 companies in the US and Europe. This acquisition will boost HCL's data-driven digital engineering skills and increase its market share in Central and Eastern Europe.

Digital developments have radically revolutionized and altered the corporate sector in this era of technology improvement. Companies now gain access to data-driven tools and methods that allow them to learn more about their customers and self-awareness. The current imperative is to forecast potential futures by pulling data from already-existing data sets. Mining historical data provides companies with future insights, credible alternative scenarios, and risk assessments.

Order your copy of the Business Intelligence Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Business Intelligence Sourcing Intelligence Highlights

• The industry is seen as being highly competitive due to the vast range of vendors offering a variety of solutions to meet the different needs of businesses. The market can be segmented using type, deployment, organization size, and location.

• Finance (67%) and sales & marketing (around 60%) are the sectors gaining the most from self-service BI. Statistics also demonstrate that these industries deal with real-time information the most.

• The fundamental cost of the category is made up of software customization, the number of users, the amount of data being analyzed, and the number of connections. Implementation, support, and training are extra expenditures related to software acquisitions.

• Software builders provide the appropriate systems & tools that facilitate business decision-making. Another key component is data warehousing, which enables users to Extract, Transform, and Load (ETL) data from various platforms and applications to produce insightful information.

List of Key Suppliers 

• IBM Corporation

• Information Builders

• SAP SE

• SAS Institute

• Microsoft Corporation Inc.

• Qlik

• Tableau Software

• Oracle Corporation

• Informatica

• Cloud9 Analytics

• Teradata

• TIBCO Software

• Cisco Systems

Browse through Grand View Research’s collection of procurement intelligence studies:

• Artificial Intelligence Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Digital Marketing Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Business Intelligence Procurement Intelligence Report Scope 

• Business Intelligence Category Growth Rate: CAGR of 9.1% from 2023 to 2030

• Pricing Growth Outlook: 6% - 8% (Annually)

• Pricing Models: Value-based pricing model, dynamic pricing model, subscription-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Type, technical expertise, security measures, cost and value, support and maintenance, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Unleashing Innovation in Order Fulfillment Procurement Intelligence

The order fulfillment category is anticipated to grow at a CAGR of 10% from 2023 to 2030. The rising online retail sales each year have resulted in rapid growth in the e-commerce industry and an increasing number of businesses preferring to sell their products digitally. This, in turn, has influenced the logistics landscape globally, along with fulfillment providers focusing on providing the best services throughout the process right from picking an order to delivering it to the end consumer. Trends such as fulfillment center automation, personalization, sustainability, and Omni channel fulfillment are driving the growth of the category.

Automation in fulfillment centers and implementing robotics can increase accuracy and processing speed. These systems can take over repetitive tasks and reduce the likelihood of human error. Automation in processes such as picking, shipping, labelling, inventory management, back-office operations, and others can transform the entire fulfillment process. It can also increase customer satisfaction, drive sales, and cut back on labor costs.

To establish an order fulfillment process that is both environmentally sustainable and eco-friendly, service providers are integrating eco-conscious practices and cutting-edge technologies into their operations. This can mitigate environmental impact, enhance operational efficiency, and bolster reputation. For instance, renewable energy sources like hydropower, wind, or solar can be used to power warehouse and logistics operations by installing energy-efficient lighting, cooling and heating systems, and using smart devices. Fulfillment companies are also opting for reusing or donating surplus or damaged inventory instead of discarding it, thus promoting a more sustainable approach.

Online consumers also want retailers to ship their orders in a sustainable way and are ready to wait longer or pay extra for their orders. For instance, according to the Digital Commerce 360 report 2023, 76% of shoppers say they are ready to pay 5% extra for sustainable packaging. This has led to the growth in focus towards sustainable packaging.

Service providers are seeking solutions for last-mile delivery which is a crucial challenge for companies. To overcome this, service providers are coming up with solutions such as using micro-fulfillment centers in which the product is delivered more efficiently and faster through the stores located close to the end-consumer. Additionally, allowing consumers to retrieve packages at their own convenience through delivery lockers, and click-and-collect points.

Order your copy of the Order Fulfillment Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Labor, inventory storage costs, transportation, maintenance, conveyor and sortation equipment, and others are some of the cost components incurred in providing services. Other costs include utilities, insurance, and legal costs. The cost varies depending on the size and weight of the product, and the urgency and distance of delivering the product. Labor, inventory storage, and transportation costs are some of the major cost components. Due to the restricted space in warehouses, service providers charge for each square foot that the goods occupy. The larger the product, the more consumers will have to pay. The picking and packing fee can range from around USD 3 to USD 5 per item.

The category is fragmented in nature with the presence of numerous players providing services to businesses from small scale to large scale. Large companies such as Amazon and FedEx have a separate fulfillment division such as FBA by Amazon and FedEx fulfilment due to the significant growth in e-commerce. According to Walker Sands' 2023 report, as Amazon has gained a dominant position as the distributor of choice, effective order fulfillment has become increasingly crucial. Only 15% of the customers believed that most online retailers fulfil their delivery needs while 30% of consumers believe that Amazon already does. Specialized fulfillment companies are increasing their investments in creating an integrated platform that has multiple integrations such as, Shopify, EBay, Oracle NetSuite, or TikTok Shop. Suppliers are also shifting their focus from single-channel to omni-channel fulfillment which automates, simplifies, and speeds up fulfillment activities. Buyers of the services such as retailers and industrial distributors have moderate bargaining power as they can choose from multiple service providers.

Under sourcing intelligence, buyers also outsource their entire fulfillment service right from picking, packing, storing, labelling, and shipping of the product. Service providers are providing additional services to sustain in the market. For instance, through Amazon FBA service that stores, packs, and ships the order, also provides service to users by making their products appear in the prime listings and they would also be eligible for fast shipping. When seeking service providers, businesses assess suppliers based on the time taken by them to fulfill the order, services related to managing their inventory, how safely are the products handled, and providing end-to-end services. Buyers also seek transparency in the order status, and whether firms adhere to the standards and guidelines.

On the other hand, service providers have a complete in-house team that carries out complete activities from picking the products, managing them in the warehouse, labelling during orders, and shipping them to the customer. Buyers outsource the services to eliminate the burden of looking out for customers, packing the product in suitable boxes, managing complex operations, printing labels, and carrying it to customers. 

Browse through Grand View Research’s collection of procurement intelligence studies:

• Automotive Sensors Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Shipping Containers Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Order Fulfillment Procurement Intelligence Report Scope

• Order Fulfillment Category Growth Rate: CAGR of 10% from 2023 to 2030

• Pricing growth Outlook:  3% - 5% (annual)

• Pricing Models: Service-based pricing, competition-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier selection criteria: Service provided, time taken to fulfill order, product handling, transparency in order status, customization option, client relationship, track record and reputation, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

• Amazon

• ShipBob

• FedEx

• Shipwire

• Shiphero

• Deliverr

• ShipMonk

• eFulfillment Service

• Red Stag Fulfillment

• Fulfillment.com

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Medical Waste Disposal Procurement Intelligence: Key Insights

The medical waste disposal category is anticipated to grow at a CAGR of 6.0% from 2023 to 2030. Appropriate disposal of medical trash is the key challenge for healthcare providers across the globe. Rising awareness about the benefits of proper medical waste management for treatment, recycling, and disposal of medical trash has boosted the growth of the category. According to the World Health Organization Study Report 2022, countries with low income generate over 0.2 kg of medical trash per day per hospital bed, whereas countries with high income generate hazardous waste of up to 0.5 kg per hospital bed each day. Moreover, rising government initiatives and strict rules and regulations for waste management are also expected to drive the category. For instance, in December 2022, an MOU was signed between the Center for Health Environment Research and Development and Can Tho Central General Hospital under USAID’s Reducing Pollution Project. This will unite the Vietnamese government, hospitals, communities, and the private sector to advocate for environmentally friendly procurement, utilization, and recycling of plastic medical trash.

The rising number of diagnostics, along with the expanding healthcare industry, has led to a focus on sustainable medical waste disposal techniques. The objective of sustainable management encompasses diminishing natural resource consumption by promoting reuse, recycling, and material recovery before eventual disposal, with the aim of minimizing environmental impact during waste management. This has led to the adoption of environmentally friendly treatment methods, such as waste-to-energy technologies. Additionally, advancements in technology, such as automation and digital tracking, are improving the effectiveness and efficiency of medical trash removal. The use of nanotechnology can help in reducing costs related to hazardous waste disposal and improve safety. Nanomaterials facilitate innovative biodegradation of harmful substances with minimal impact on the environment. Such advancements have also resulted in streamlining the process, ensuring compliance with regulatory requirements, and reducing errors.

The category is fragmented in nature, with numerous players competing to provide disposal services. Companies such as Daniels and Pureway are competing to provide cost-effective and scalable services, from the collection of trash to the disposal of waste and keeping the neighborhood sanitary. The suppliers in the category may have moderate bargaining power due to the specialized nature of disposal equipment and regulatory compliance requirements. The disposal service providers need to be licensed according to state regulations.

Order your copy of the Medical Waste Disposal Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Suppliers must follow guidelines outlined by regulatory bodies such as DOT, OSHA, and CDC that ensure trash generated by healthcare facilities is safely transported and disposed. For instance, OSHA regulates safety under its Bloodborne Pathogens Standard, which requires that all employees in contact with medical trash should be trained in handling, labeling, storing, and transporting healthcare waste.

Labor, Materials (disposal containers, bags), treatment equipment, repair and maintenance, legal costs, transportation costs, and others are some of the costs incurred in collecting, treating, and disposing of pharmaceutical waste. The cost of overall service depends on the waste management company, the location of the facility, the frequency, and the volume and waste stream generated. The purchase of disposal containers can cost between USD 1,000 and USD 5,000. Autoclave machines used to sterilize waste prior to disposal can cost from USD 7,000 to USD 25,000. One of the crucial factors in providing the service is developing an efficient medical trash removal management system which can have an impact on the overall costs.

In terms of providing medical waste disposal services, service providers usually have a complete in-house team that carries out complete activities from collection to treatment and disposing of waste. For instance, Daniels possesses the finesse, licensing, and compliance expertise required to safeguard the safety, risk, and regulatory responsibilities of healthcare facilities. They oversee tasks ranging from supply of bins to pick up, manifesting, and treatment management. Buyers in the category, such as hospitals, laboratories, and other healthcare facilities, seek out service providers that provide high-volume collection, time-to-time collection services, touchless removal services, and cost-effective services. Buyers also evaluate service providers based on compliance with regulatory requirements, global reach, and reliable service.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Clinical Trial Imaging Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Healthcare Consulting Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Medical Waste Disposal Procurement Intelligence Report Scope

• Medical Waste Disposal Category Growth Rate: CAGR of 6.0% from 2023 to 2030

• Pricing growth Outlook:  6% - 7% (annual)

• Pricing Models: Volume-based pricing, waste type-based pricing, competition-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier selection criteria: Collection method, capacity, and frequency, technology and tools used for collection, client relationship, track record and reputation, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

• Daniels

• Pureway

• Republic Services

• Stericycle

• Clean Harbors

• Sharps Compliance

• Sanpro Waste

• MedPro Disposal

• Citiwaste

• Gamma Waste Systems

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

A Deep Dive into Household Cleaners Contract Manufacturing Procurement Intelligence

The household cleaners contract manufacturing category is anticipated to witness growth at a CAGR of 11.0% from 2023 to 2030. In 2022, Asia Pacific held a substantial share of the global category, followed by North America and Europe. This dominance is mainly attributed to the rising disposable income and emphasis on cleanliness and hygiene, which has raised demand for household cleaners. The growth is further fueled by an increase in the number of local manufacturers. Key players based out of Asia Pacific are focusing on developing multi-purpose and organic products with an objective to increase their market share. In addition, the North America region is home to cutting-edge facilities and technologies. These technologies are used by the household cleaner contract manufacturing service providers to produce better goods and services and gain a competitive advantage.

Based on service type, the category is dominated by the manufacturing segment. The services offered in this category enable the businesses (band owners) to reduce equipment & machinery costs. The cost of buying massive machinery and keeping it maintained, repaired, or replaced requires fewer resources. It also eliminates the need to pay personnel to manufacture goods internally. It can be expensive to hire whole teams of experts, researchers, and manufacturers, paying them full wages and perks. Service providers may not charge a client for the personnel or equipment they own. They simply have to pay the total agreed upon in the contract, plus any other applicable fees or costs. In addition, a business can put all of the money and resources it saves to fund other endeavors, such as supporting sales initiatives, expanding its marketing plans, and/or adding personnel for other divisions.

Order your copy of the Household Cleaners Contract Manufacturing Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Technologies such as Artificial intelligence (AI) have gained significant popularity in the industry. The ability of AI to evaluate enormous volumes of data in real time is one of the most important advantages for manufacturing. Artificial intelligence (AI) systems can quickly investigate the data to find patterns and trends, helping firms understand how their manufacturing processes are working. This is made possible by Industrial Internet of Things (IIoT) devices and sensors that gather data from machines, equipment, and production lines. The technology supports the service providers in finding abnormalities and equipment flaws. For example, they (service providers) can use machine learning algorithms, that are equipped to notice patterns in the data and suggest the next steps based on those patterns while identifying any defects in the initial stages of the manufacturing process itself.

The outbreak of the COVID-19 pandemic significantly impacted the demand for household cleaners as it was being increasingly utilized in commercial as well as residential properties to disinfect the surroundings. As a result, due to the unanticipated increase in demand, there was a shortage of supply, prompting some manufacturers to increase their production capacity to meet the customer demand. Leading producers, such as Henkel, P&G, and Reckitt Benckiser, witnessed a spike in demand for cleaning products which led them to outsource their manufacturing operations to the service providers in the category with an objective to increase their supply. The demand for household cleaners is expected to increase in the next years due to growing disposable income and increased urbanization, which will result in significant infrastructure investments. Consequently, it will support the growth of the global category.

Household Cleaners Contract Manufacturing Sourcing Intelligence Highlights

• The household cleaners contract manufacturing category exhibits a fragmented landscape with intense competition among the players in the industry.

• Buyers in the category possess high negotiating capability due to the intense competition among the suppliers, enabling the buyers with flexibility to switch to a better alternative.

• India is the preferred low-cost/best cost country for sourcing household cleaners contract manufacturing service providers. The nation is a cost-effective destination for contract manufacturing due to its relatively cheap raw material costs, energy costs, and labor costs, which result in significant cost savings.

• Raw materials, labor, equipment & machinery, rent & utilities, packaging & transportation, and other costs are the key cost components in the household cleaners contract manufacturing category. Other costs can be further bifurcated into research & development (R&D), administrative expenses, taxes & insurance, maintenance & repairs, depreciation, and interests.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Construction Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Connected Devices and Wearables Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers 

• Abdos

• Advance Research Chemicals, Inc.

• CleanPak Products, LLC

• Colep Consumer Products

• Formula Corp.

• Guy & O'Neill, Inc.

• McBride plc

• Megamorph Marketing Pvt. Ltd.

• Nicols S.A

• PLZ Corp.

• Premier Care Industries

• Rockline Industries

Household Cleaners Contract Manufacturing Category Procurement Intelligence Report Scope

• Household Cleaners Contract Manufacturing Category Growth Rate: CAGR of 11.0% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Cost-plus pricing, competition-based pricing, demand-based pricing, hourly pricing, and fixed pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Geographical service provision, years in service, employee strength, quality management system, technologies deployed in manufacturing, regulatory compliance & IP protection, assembly & storage capacity, transportation support, lead time, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Vitamins & Dietary Supplements Procurement Intelligence: Industry Outlook

The vitamins & dietary supplements category is anticipated to witness growth at a CAGR of 8.5% from 2023 to 2030. In 2022, North America dominated the global category, accounting for 35% of the overall market share, followed by Europe and Asia Pacific. Europe is anticipated to witness growth owing to increased consumer awareness of health and the role of supplements in weight control and physical activity as well as their readiness to pursue a healthier lifestyle. The Asia Pacific region is anticipated to witness the fastest growth rate during the forecasted period. This growth is attributed to increasing consumer awareness & purchasing power along with a rise in geriatric population in countries such as Japan and China.

Vitamins & dietary supplements are manufactured in several forms such as tablets, capsules, powders, liquids, and gels. By type, the products are segmented into vitamin subtypes (e.g., A, B, C, D, E, and K), minerals, amino acids, enzymes, and probiotics. The products have end-use applications in pharmaceuticals, nutraceuticals, feed products, foods and beverages, and personal care products. A few of the key raw materials used in manufacturing these products include retinol, carotenoids, thiamin, riboflavin, ascorbic acid, cholecalciferol, calcium carbonate, and magnesium aspartate.

Key technologies driving this category’s growth include nanoencapsulation, biohacking and targeted supplementation, nutrigenomics, 3D printing of capsules, and lab-grown nutrients. For instance, nanoencapsulation provides various benefits such as improving the stability and solubility of bioactive compounds used in the manufacturing of vitamins and dietary supplements. It also inhibits the deterioration of products during storage and transportation. It also enhances the bioavailability and potency of the target compounds in the products.

Order your copy of the Vitamins & Dietary Supplements Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

The industry players purchase raw materials and active ingredients from a variety of sources and locations. The profit margins are typically moderate to low due to intense competition. The key players usually compete over pricing strategies, product innovations, packaging, labeling, and advertising. Customers can be selective, as their objective is to purchase the best available options at the lowest feasible cost. This increases the pressure on key players to provide competitive pricing and high-quality products. Besides, regulatory guidelines in several countries require companies to have stringent quality control and safety standards.

Vitamins & dietary supplements may either be manufactured in-house or through contract development & manufacturing organizations (CDMOs). They may be distributed via offline or online distribution channels. Offline channels include brick-and-mortar establishments such as direct sellers, pharmacies, hypermarkets, supermarkets, convenience stores, or other tangible shop environments. Online channels comprise e-pharmacies (e.g., Walgreens, CVS, PharmEasy) and e-commerce platforms (e.g., Amazon, eBay, Flipkart).

The COVID-19 pandemic caused significant disruption in the global vitamins and dietary supplements industry. The product demand intensified after the COVID-19 outbreak, due to the surge in demand for immunity-boosting products. Supply disruptions were prevalent due to transportation bottlenecks and labor shortages during government-imposed lockdowns, but the supply stabilized significantly in 2023 to meet the increased global demand.

Vitamins & Dietary Supplements Sourcing Intelligence Highlights

• The vitamins & dietary supplements category has a fragmented landscape, with intense competition among the service providers.

• Countries such as India and China are the preferred low-cost/ best-cost countries for vitamins and dietary supplements owing to cheap raw material costs, cheap labor costs, competitive pricing, and high return on investment.

• Buyers in the category possess high negotiating power due to the intense competition among the service providers based on the scope of services and prices, enabling the buyers with flexibility to switch to a better alternative.

• Raw materials, labor, technology and equipment, energy and utilities, packaging, labeling, and logistics, and other costs are the major cost components of the vitamins & dietary supplements category. Other costs can be further bifurcated into R&D, regulatory & compliance, rent, general & administrative, sales & marketing, and finance & taxes.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Dairy Derivatives Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Crude Oil Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers 

• Abbott Laboratories

• Amway Corporation

• Archer Daniels Midland Company (ADM)

• BASF SE

• Bayer AG

• DSM Nutritional Products AG

• GSK plc

• Herbalife International, Inc.

• Lonza Group Limited

• Pfizer, Inc.

Vitamins & Dietary Supplements Category Procurement Intelligence Report Scope

• Vitamins & Dietary Supplements Category Growth Rate: CAGR of 8.5% from 2023 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Cost-plus pricing, competition-based pricing, demand-based pricing, bundled pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Geographical service provision, revenue generated, key regulatory certifications, years in service, employee strength, clientele, product portfolio, key technologies, distribution channels, application/end-use, customer ratings, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

A Strategic Approach to Creative Advertising Procurement Intelligence

The creative advertising category is expected to grow at a CAGR of 9% from 2023 to 2030. The global creative advertising category size was valued at USD 321 billion in 2022. The growth of this field is being driven by the expansion of digital marketing, which allows organizations to more precisely target their advertising and measure the success of their campaigns. This makes it easier for firms to recognize and invest in creative advertising. 

Another element fueling the growth of creative advertising is the growing importance of data analytics. Data analytics enables organizations to better understand their customers and generate more successful advertising efforts. Consumers are increasingly seeking individualized experiences in creative advertising, prompting firms to employ data analytics to more accurately target ads, resulting in more effective and engaging campaigns. Consumer demographics are changing, fueling the growth of creative advertising. Consumers are becoming more fragmented and demanding, and they want advertising that speaks to and is relevant to their values. Businesses that use innovative advertising can engage their customers on a more personal basis.

Companies are continuously focusing on merging and/or collaborating with their competitors/peers to strengthen their operational & functional capabilities. For instance:

• In July 2023, Havas purchased 51% of the stake in Uncommon, a renowned creative company in the UK. This investment is in line with Havas’ vision to strengthen its creativity portfolio

• In May 2023, DDB Worldwide merged with Adam&EveNYC and DDB New York, establishing a new company known as Adam&EveDDB. Caroline Winterton, currently president of Digitas New York and Atlanta, will join Adam&EveDDB New York as CEO. She starts her new job in the fall.

Order your copy of the Creative Advertising Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

In this category, technology such as artificial intelligence is used in the creation of more tailored and relevant marketing, as well as the analysis of data about the target audience in order to discover their requirements and interests. This data is utilized to develop campaigns that are more likely to resonate with the intended audience. Data analytics is a valuable tool for optimizing targeting, analyzing customer interests and demographics, and designing stronger creative campaigns in the creative advertising market. Data analytics may find the correct audiences for ads by tracking customer activity, resulting in better targeting and ROI. Virtual reality (VR) and augmented reality (AR) are used to produce more engaging and memorable immersive creative advertising experiences. 

Creative Advertising Sourcing Intelligence Highlights

• The number of both large and small companies operating in different areas has caused the creative advertisement category to become highly fragmented on a worldwide scale. Players compete aggressively with one another to grow their customer base and offer superior customer service.

• Labor cost, production cost, and equipment cost account for the largest cost component of the creative advertising business.

• Most of the service providers offer services such as developing, designing, and producing the creative idea as per the requirements

Browse through Grand View Research’s collection of procurement intelligence studies:

• Blockchain Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Big Data Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers

• WPP

• Omnicom

• Interpublic Group

• Dentsu

• Havas

• MDC Partners

• Ogilvy

• McCann Worldgroup

• BBDO

• Grey Global Group

Creative Advertising Procurement Intelligence Report Scope 

• Creative Advertising Category Growth Rate: CAGR of 9% from 2023 to 2030

• Pricing Growth Outlook: 8% - 10%(Annually)

• Pricing Models: Hourly rate pricing model and project fee pricing model

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Transparency, creativity, innovation, type, technical expertise, security measures, cost and value, support and maintenance, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Emerging Trends in Finance and Accounting Outsourcing Procurement Intelligence

The finance and accounting outsourcing category is expected to grow at a CAGR of 6% from 2023 to 2030. Companies are concerned about data security and depend more on outsourcing partners for their financial operations. In 2023, the companies emphasized a strong focus on cybersecurity protection and severe attention to data privacy guidelines. Modern security protocols are being used by outsourcing service providers to protect sensitive financial data from online attacks. The demand for data security in this category is driving the market growth.

There is a growing emphasis on regulations and compliance, which has an impact on the financial and accounting landscape. Outsourcing providers put significant focus on ensuring the competence of national and international financial regulations such as ISO 27001, Payment Card Industry Data Security Standard (PCI DSS), etc. while remaining fully compliant with compliance standards like Generally Accepted Accounting Principles (GAAP), American Institute of Certified Public Accountants (AICPA), etc. Following these regulations helps companies and their outsourcing providers prevent potential fines and damage to their reputations.

The growing trend of remote work and digital collaboration has increased the market scope of BPO services for finance and accounting. As a result of exposure to a large pool of global talent, businesses will be able to acquire the necessary talent. The digitalization trend encourages diversity, innovation, and cost-effectiveness because it gives businesses access to a variety of highly qualified individuals around the world.

Order your copy of the Finance and Accounting Outsourcing Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Companies’ emphasis on collaborating and incorporating new technology to develop new products/services. For instance,

• In August 2023, Capgemini's AI-enabled Frictionless Finance platform offers professional financial insights, cutting-edge tech integration, and process optimization that promote operational efficiency and value realization for its clients.

• In February 2023, GI Outsourcing, a UK-based outsourcing provider announced a corporate training and development partnership with the Association of International Certified Professional Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). GI Outsourcing has incorporated qualifications from the AICPA and CIMA in its employee training and development program for the employees who are assisting their international clients to keep them educated on various international accounting standards.

Finance and Accounting Outsourcing Sourcing Intelligence Highlights

• Because few service providers can compete with market leaders in terms of end-to-end service delivery capabilities and geographic reach for global/regional engagements, buyers in the finance and accounting outsourcing category have limited negotiating power.

• The average cost of outsourcing one of the finance and accounting services, i.e., accounting and bookkeeping services, ranges from USD 500 to USD 5,000 per month.

• The global finance and accounting outsourcing category is fragmented. The industry encompasses a wide range of services, including accounting and bookkeeping, payroll processing, tax return preparation, auditing, and many more.

• The category can be described as mature with several active players equipped with advanced technologies and global talent pool capabilities.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Management Consulting Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Digital Payment Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

List of Key Suppliers

• Accenture Ltd.

• Capgemini SA

• Conduent Inc.

• Fusion Business Solutions (P) Limited.

• Genpact Ltd.

• Hewlett-Packard Development Company, L.P.

• Infosys BPO Limited

• Meru Accounting

• International Business Machines Corporation

• Steria Limited

• Wipro BPO

• WNS Global Services

Finance and Accounting Outsourcing Procurement Intelligence Report Scope

• Finance and Accounting Outsourcing Category Growth Rate: CAGR of 6% from 2023 to 2030

• Pricing Growth Outlook: 4% - 5% (Annually)

• Pricing Models: Fixed pricing model and volume-based pricing

• Supplier Selection Scope: End-to-end service, cost and pricing, compliance, service reliability, and scalability

• Supplier Selection Criteria: Range of services, technology usage, certification, regulatory compliance, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

A Strategic Approach to Phosphate Procurement Intelligence

The phosphate category is anticipated to grow at a CAGR of 3.3% from 2023 to 2030. The growth of the category is strongly influenced by the continual expansion of the food and beverage industry. It plays a vital role in food processing, serving as essential additives and preservatives as it contributes significantly to the flavor, consistency, and longevity of a diverse array of food products.

Phosphate is majorly used in fertilizer. According to MIT News 2023, around 95% of the phosphate ore is utilized to make fertilizers. Additionally, according to the U.S. Geological Survey 2023 report, during 2022, the worldwide phosphate fertilizer industry encountered challenges such as supply interruptions, elevated fertilizer costs in the initial months of 2022, and reduced consumption in certain areas. However, the rising population and urbanization are anticipated to drive up the demand for food and, consequently, fertilizers. According to Rabobank's 2023 report, fertilizer consumption across the globe increased by 3% in 2023 as compared to a 7% decline in 2022. The rising usage of fertilizers in crops is expected to drive the demand for the category.

As environmental consideration is rising, the industry is focusing on adopting eco-friendly approach while converting phosphates into phosphorous which is an intermediate in manufacturing lithium-ion batteries and herbicides. In a paper published in the journal ACS Central Science, the researcher showcased that their approach of using electricity to speed up the chemical reaction that can reduce carbon emissions by half or more during the process of converting the category into phosphorous. Additionally, to meet the growing demand for batteries, companies are continuously increasing the exploration of category to meet the demand. For instance, in July 2023, Norge Mining, a mining company in Norway, completed the exploration of 70 billion tonnes of phosphate deposits and claimed that it is enough to meet the category demand for batteries over the next 100 years.

Order your copy of the Phosphate Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Phosphate miners are also focusing on acquiring stakes in end-use companies to diversify their phosphate solutions. For example, in September 2022, OCP Group, the largest mining company, signed an agreement with Fertinagro Biotech S.L., a Spanish fertilizers producer, to acquire a 50% stake of GlobalFeed S.L. GlobalFeed operates in animal nutrition products and phosphate-based products. The acquisition would confirm OCP’s objective to diversify its solution in the animal nutrition sector.

China topped the production list with 85,000 metric tons of phosphate production in 2022, followed by Morocco and Uzbekistan, with the production of 40,000 and 21,000 metric tons, respectively. China also has the world's third largest reserves of the category, with 1.9 billion MT of the commodity. The Chinese government has implemented limitations on the export of phosphates as a strategy to reduce domestic fertilizer prices by relying on its own supply. However, Morocco produces less as compared to China, but Morocco has the largest reserves of around 50 billion MT and accounts for 70% of the global reserve.

Suppliers in the category, typically phosphate rock miners, have a moderate level of bargaining power. The availability of phosphate reserves is limited, and suppliers may have some control over prices. However, the presence of multiple suppliers and alternative fertilizers can balance the power dynamics. Companies are also focusing on powering mining operations through natural resources. For instance, in 2023 OCP group, a phosphate rock miner company, intends to power its mining operations through solar at its two facilities situated in the northwest African country.

Labor, land, equipment costs, energy and utilities, maintenance costs, transportation, and others are some of the costs involved in the production of the category. Labor and equipment costs account for a major part of the total costs. The process of extracting the category from phosphate rock involves mining activities. After mining, phosphate rock must be processed to produce phosphate compounds suitable for use in various applications, such as fertilizers or industrial chemicals. The processing costs include energy, chemical reagents, and equipment expenses. The price of phosphate rock in October 2023 was around USD 347.50 per metric tonne, which was USD 47.5 per metric tonne more as compared to November 2022. The efficiency and sustainability of mining operations influence the overall supply and, consequently, the prices of the category.

In terms of phosphate production, it is preferred to have a complete in-house team for various tasks from mining, producing, and distributing million tonnes of high-quality products. Top companies such as OCP Group, Mosaic, and Jordan Phosphate Mines Company have their own mining facilities, reserves, and process teams to convert the product to crop nutrition products. Mosaic also has well-developed connections with small and large farmers to provide the crop nutrients which are needed to grow healthy plants. A complete in-house category production supply chain from mining to quality testing, packaging, and transportation can benefit the company over the long run. Developing a strong relationship with farmers and other consumers, establishing strict quality control measures to assess the quality, and evaluating potential suppliers are some of the best sourcing practices for the category. China and Morocco are the preferred countries for the sourcing category. China’s cheap labor, abundant phosphate production, and minimal transportation cost can result in cost-effective sourcing of the category. On the other hand, Morocco's world's largest reserves and the presence of top companies such as OCP Group make Morocco the second preferred country for sourcing the category.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Polyurethane Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Hydrochloric Acid Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Phosphate Procurement Intelligence Report Scope

• Phosphate Category Growth Rate: CAGR of 3.3% from 2023 to 2030

• Pricing growth Outlook: 6% - 7% (annual)

• Pricing Models: Volume based Pricing; Competition based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier selection criteria: Quality, volume range offered, grade, contract terms, delivery option, safety and environmental compliance, location and presence of supplier, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies

• OCP Group

• Mosaic

• Innophos

• Minbos Resources

• PhosAgro

• Jordan Phosphate Mines Company

• Israel Chemicals

• Nutrien

• Prayon S.A.

• Sulux Phosphates

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Hydrochloric Acid Procurement Intelligence: A Deep Dive

The hydrochloric acid category is anticipated to grow at a CAGR of 6.6% from 2023 to 2030. The rising usage of hydrochloric acid from various end-use industries such as food and beverages, dyes, pigments, steel pickling, water & wastewater treatment, and others is anticipated to drive the category growth. The category is mainly driven by demand in wastewater treatment to adjust pH levels and enhance water quality. A wide range of food products such as cold drinks, cereals, and corn syrups used in biscuits are processed using hydrochloric acid.

Waterborne diseases are a major concern in African countries such as Nigeria. According to UNICEF 2022 report, around 70% of water at the time of consumption is contaminated. Additionally, the U.N. agency stated that contamination is the reason Nigeria has the world’s highest number of deaths due to waterborne diseases among children between five years old. To tackle such problems various government bodies such as UNICEF, and the World Bank are taking initiatives to help wastewater treatment projects in the region. Such initiatives are expected to boost the demand for hydrochloric acid used for water treatment.

The production of hydrochloric acid relies directly on the availability of chlorine, and it is mainly generated as a co-product or byproduct during the production of chlorinated derivative chemicals. Advancements in the production process have evolved over the years due to efficiency, safety, and environmental concerns. Membrane cell electrolysis, hydrogen chloride recovery, and automation and process control are some of the notable innovations in the production process. Membrane cell electrolysis technology has largely replaced the outdated mercury cell electrolysis in chlorine production. Membrane cells offer enhanced environmental benefits by eliminating the need for mercury and decreasing the generation of chlorine gas emissions. Additionally, utilizing advanced automation and process control systems has elevated the accuracy and safety of hydrochloric acid production, thereby mitigating the potential for accidents, and enhancing the quality of the product.

Germany, Japan, and Canada are top hydrochloric acid exporting countries. In 2022, Germany exported acid of around 1.2 million metric tons, and worth of USD 69 Million. Similarly, Canada which ranked second exported over USD 43 million, followed by Japan which exported worth of USD 36 million. In August 2023, the prices of hydrochloric acid prices in the U.S. were around USD 0.08/kg, whereas in Europe the prices were around USD 0.17/kg. In November 2021, the prices of acid in Europe increased sharply, due to a tight supply of raw material Chlorine which resulted in producers looking for the best value to offset high energy costs.

Order your copy of the Hydrochloric Acid Procurement Intelligence Report, 2023 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Buyers in the category, such as chemical manufacturers and industrial users, often purchase in bulk. However, they choose from typically multiple suppliers, which gives buyers some negotiation power. Prices are also influenced by factors like supply and demand dynamics and the cost of raw materials. Due to the harmful effects of acid on the environment, companies are obliged to follow safety protocols by various government agencies. For instance, according to the U.S. Food and Drug Administration, Section 182.1057 recognizes hydrochloric acid as safe when used as a neutralizing agent in accordance with good manufacturing practices.

Raw material, labor, land and construction, machinery, utility, packaging, transportation, and others are some of the cost components involved in the production of the category. Hydrochloric acid is produced through various processes such as salt and sulphuric acid, the Mannheim process, and hydrogen and chlorine. The most used method is through hydrogen and chlorine. Raw material and labor costs account for a major part of the total cost.

In terms of hydrochloric acid production, the hybrid model is a popular engagement model in the category, combining in-house and full-service outsourcing. Some suppliers opt for a partial outsourcing model. Companies outsource operations such as packaging, and transportation services. Employing an in-house team for a complete production line from procuring raw material to quality testing, packaging, and transportation can be beneficial for the company. Developing a strong relationship with suppliers of raw materials (hydrogen and chlorine) and ensuring the consistency and traceability of the supply chain is key to sourcing the category.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Chemical Management Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Fiber Reinforced Plastics Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Hydrochloric Acid Procurement Intelligence Report Scope

• Hydrochloric Acid Category Growth Rate: CAGR of 6.6% from 2023 to 2030

• Pricing growth Outlook: 6% - 7% (annual)

• Pricing Models:  Volume based Pricing; Competition based pricing

• Supplier Selection Scope: Cost and pricing, volume, production capacity, geographical presence, and compliance

• Supplier selection criteria: Quality, volume range offered, contract terms, delivery option, technology used, safety and environmental compliance, location and presence of supplier, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies 

• BASF

• AGC Chemicals Americas

• Vynova

• Detrex Chemicals

• Thermo Fisher Scientific

• Kaneka Corporation

• ERCO Worldwide

• Oxy

• Olin

• Tata Chemicals

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions