The global footwear market size is expected to reach USD 269.9 billion by 2025 registering a CAGR of 3.8%, according to a new report by Grand View Research, Inc. Rising demand for fancy, convenient, and comfortable footwear is the major factor driving the market growth. Another factor driving the market is rising number of working individuals across the globe, which leads to increased sales of formal and semi-formal footwear. Companies are launching innovative products to increase customer engagement. For instance, in April 2019, Adidas America, Inc. introduced Game of Thrones sneakers.
Women end user segment is expected to register the fastest CAGR of 4.3% from 2019 to 2025. Average spending on personal appearance products will further boost market growth. The Asia Pacific region is anticipated to witness the maximum CAGR over the forecast period. This growth is attributed to the improving living standards and increasing disposable income levels, especially in emerging nations like China and India. The athletic type segment in this region is increasing due to rising participation in different sports, such as the ACC Asia Cup, ICC Cricket World Cup, and the Asian Games.
In terms of revenue, athletic type segment is projected to ascend at the fastest CAGR of 4.4% from 2019 to 2025
However, non-athletic type segment is likely to account for the largest share of the global market in future
Men end user segment accounted for the largest market share of more than 55% in 2018 and is projected to retain its leading position over the next few years
Asia Pacific is expected to be the largest, as well as fastest-growing, regional market during the forecast period
This growth is attributed to increasing disposable income levels in emerging countries like India, South Korea, China, and Japan
Prominent companies in the global footwear market include Adidas America, Inc.; PUMA; Geox S.p.A.; Timberland LLC; Crocs Retail, Inc.; Under Armour, Inc.; and Wolverine World Wide, Inc.
These industry participants focus on new product development and technological innovations to estimate existing and future demand patterns from upcoming market
The global kids bicycle market size is expected to reach USD 4.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.6% over the forecast period. The growth is attributed to rising demand for bicycling as a fun activity among children who are hugely influenced by toon characters riding bicycles.
For instance, the character Calvin from the comic Calvin and Hobbes can be seen in the bicycle. The cycle manufacturers have leveraged these features to market bicycles. Cartoon Network Ben Ten Bicycle is one such product that gained tremendous popularity in the countries including India, Maldives, Indonesia, and Pakistan.
In addition, schools and residential societies have been conducting cycling races, marathons, and relays. Such activities develop discipline, sportsmanship, and team spirit among kids. This, in turn, drives the kids, parents, and teachers to take interest in cycling, thereby propelling the kids bicycle market growth. Cycling is further promoted for various health benefits among kids.
It has been proved through various medical researches that cycling improves fitness. Along with improving physical strength and growth, it even results in positive mental attitude by releasing stress. It is also recommended that cycling activity in fresh air improves the metabolism by providing exercise to the cardiovascular muscles and building muscle mass.
Rise in the demand for kids cycle is being leveraged by various manufacturers. In May 2019, Strider Sports International Inc. entered the Indian market by launching two different models, Sport Baby Bundle and 14x Sport Balance Bike bicycles. The product is available online for USD 199.98 and USD 209.99 respectively. The Sport Baby Bundle is for toddlers and it comes with rocking base and no pedals. The 14x Sport Balance Bike is for kids above 2.
Some of the key players are Giant Bicycles, Trek Bicycle Corporation, Specialized Bicycle Components, Cannondale, SCOTT Sports SA, GT Bicycles, MERIDA BIKES, Cervélo, Fuji Bikes, Cicli Pinarello SRL, COLNAGO, Santa Cruz Bicycles, and KONA. Manufacturers have been observing the rapid growth closely and strategically expanding in the countries with growing middle-class income population.
The global chalcedony earrings market size is anticipated to reach USD 8.36 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.5% during the forecast period. Rising popularity of natural jewelry and precious stones coupled with the affordability, variety, and availability of the product is anticipated to drive the growth. Rise in online shopping for greater convenience and prices is anticipated to drive the demand for chalcedony earrings.
Chalcedony gemstones are claimed to impart mental flexibility and verbal dexterity. It helps improve communication skills and thus stimulates the ability to learn new languages. In addition, it enhances light-heartedness and optimism. These stones also have natural anti-inflammatory properties and ability to heal effects of smoking on lungs, lowering temperature and blood pressure, clearing respiratory. Awareness regarding these advantages is anticipated to bode well for the product demand.
Aesthetic appeal of chalcedony owing to its bluish translucent color is one of the major factors driving the demand for gold and silver earrings made using chalcedony. . However, chalcedony stones easily express these colors without incorporating the expense of blue sapphire or diamonds. Hence, affordability is projected to continue being one of the major driving factors for the demand of chalcedony earring in the forthcoming years.
In terms of distribution channel, retail store segment led the chalcedony earrings market in 2018. Jewelry made of chalcedony stones is used for daily wear owing to its durability and contemporary designs. In addition, low investment cost for the store chains is expected to bode well for the segment growth. Rapid expansion of the jewelry industry coupled with willingness of the consumers to invest more in latest fashion trends is projected to bode well for the growth.
Asia Pacific is anticipated to expand at the fastest CAGR of 11.0% from 2019 to 2025. China contributes to about 30% of global jewelry demand. Increasing awareness regarding innovative gem stones introduced in the latest fashion trends is expected to positively impact the regional demand for chalcedony earrings. Countries like China and India lead exports in the region and have successfully established a stable trade market for chalcedony stones, which is expected to further propel the demand for chalcedony earrings.
Online distribution channel is expected to reach USD 2.46 billion by 2025, expanding at a CAGR of 11.1% from 2019 to 2025
Retail store was valued at USD 1.61 billion in 2018 and is expected to reach USD 3.13 billion by 2025
Asia Pacific is anticipated to expand at the fastest CAGR of 11.0% from 2019 to 2025
Top players operating in the chalcedony earrings market are Wanderlust Life; T&CO.; The Jewellery Channel Limited; GEMPORIA LTD; Stauer.com; Ana Silver Co.;Gopali Jewellers; and NOVICA United, Inc. Manufacturers focus on investing in product development and innovation in terms of designs, colors, and styles
The global spandex market size is expected to reach USD 8.8 billion by 2027 registering a CAGR of 2.2%, according to a new report by Grand View Research, Inc. Rapid expansion of the textile industry coupled with rising demand for sportswear, active wear, diapers, intimate wear, etc. is projected to propel the market growth. Benefits of spandex fibers including lightweight, resistance to perspiration, superior elasticity, excellent strength, and durability are projected to promote its use in applications including clothing, medical, and others.
Spandex is increasingly being used in the manufacturing of medical products including compress bandages, stretchable bandages, surgical hose, etc. Rising demand for medical products across the globe on account of the increasing number of healthcare centers is expected to augment the product demand further. Raw materials used in the manufacturing of spandex include Polytetramethylene Ether Glycol (PTEG) and MDI that are derived from petrochemical feedstock. Stringent government regulations across the economies to curb the carbon footprints is projected to limit the expansion of the spandex market.
The clothing application segment is projected to register the fastest CAGR from 2020 to 2027 on account of the growing demand for sportswear, swimwear, yoga pants, under garments, and others
The solution dry-spinning process accounted for the maximum market share of 95.2% in 2019 and is projected to register at a steady CAGR from 2020 to 2027 owing to the multiple benefits of the process including higher spinning speed and flexibility
Asia Pacific led the global market in 2019 owing to the expansion of textile industry in China, India, Indonesia, and several other economies
Growing production of spandex in U.S. on account of the rising demand for active wear, sportswear, inner wear, and others is projected to drive the North America regional market
China accounted for the highest market share in Asia Pacific due to the growing number of production facilities in the country
The global baby carrier market size is expected to reach USD 23.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Growing demand for baby carriers on account of increasing popularity of functional carries that provide user-friendly experience to parents is expected to remain a key market trend. Factors such as durability, comfortability and price affordability are further driving the product demand. Moreover, use of this product is increasing in the urban areas, wherein the number of working class parents and their economic independency are growing.
Usage of baby carrier products is increasing in the developing countries of Asia Pacific including India, China, and Bangladesh. This is on account of inclination towards western standard of living and growing disposable income. Moreover, many new products are launched in Asia Pacific. In 2019, Baby Bjorn launched Baby Carrier One Air 2019 in China. This product uses a soft mesh material that keeps the infant’s hips in the M-position.
In November 2018, new companies such as KeaBabies have launched baby wrap carrier, which is a combination of wrap, sling, and buckle products. Moreover, usage of e-textile for manufacturing these types of baby care products provides the parents and the company with continuous analysis of the infant’s vitals. This helps the parents in understanding the growth of the toddler through their smartphone and helps the company in gaining more information on product development.
New product launches from leading companies are propelling manufacturers to develop new products that will provide even better benefits to the infant as well as the parents. For instance, in January 2019, Moby launched Moby 2 in 1 Carrier + Hip Seat Baby Carrier to provide relief from back pain to the parents after carrying the toddler.
Similarly, in November 2018, Bey Bee launched a variety of baby carrier products such as Bey Bee Ergonomic 3 Way 4 Seasons Hip Seat Baby Carrier, to allow the parents to carry the infants and toddlers in different and convenient position with better comfort. The company is focusing on developing new products in order to capture a larger share in the market.
The sling product segment is projected to ascend at a CAGR of 5.2% from 2019 to 2025. Buckle products dominated the global market with an overall share of 51.0 % in 2018
The supermarkets/hypermarkets distribution channel dominated the global market with a share of 44.6% in 2018
North America dominated the global baby carrier market in 2018 and accounted for 37.2% share of the total revenue
The industry is highly competitive in nature with the key players including Artsana s.P.A.; BabyBjorn AB; Blue Box Company; Lalabu LLC; Goodbaby International Holding Limited; FirstCry; Moby Wrap, Inc.; Baby Tula LLC; and Balboa Baby.
The global sports shoes market size is expected to reach USD 25.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.2% over the forecast period. The market is expected to witness significant growth owing to growing popularity of sports activities across the globe.
Men’s sports shoe dominated the global market and is expected to maintain its lead over the forecast period. Increasing popularity of outdoor games such as soccer and American football is expected to increase the demand for sports shoe over the forecast period. Sports clubs are spreading awareness among people by conducting events at various places across the world, which will have a positive impact on the market growth. For instance, in 2017, the National Football League (NFL) had organized four game events in London and around 84,500 fans came to watch the match between Jacksonville Jaguars and Baltimore Ravens at Wembley Stadium.
In 2018, the offline retail channel segment dominated the market, accounting for more than 80% share of the overall revenue. Increasing penetration of retail outlets in developing countries is one of the main factors driving the segment over the forecast period. For instance, in 2018, American multinational company, New Balance Inc., opened a new retail outlet in Riyadh to expand in Middle East.
Moreover, due to increasing awareness related to health and supportive government initiatives, many multinational companies are focusing on India and China to expand their reach in the market. For instance, the Khelo India program has been introduced to revive the sports culture in India at the grassroots level by building a strong framework for all the sports played in the country and establish India as a great sporting nation. Such initiatives are expected to have a positive impact on the market growth.
Asia Pacific is expected to expand at fastest CAGR of 5.2% over the forecast period. Increasing sports participation in India and China, growing spending power of consumers, and rising health awareness in the region are expected to have a positive impact on the growth of the market. Central and South America is expected to witness significant growth owing to growing popularity of football, American Football, and rugby.
By gender, the kids segment is projected to expand at a CAGR of 5.0% over the forecast period
The offline retail channel segment dominated the global sports shoe market with an overall revenue share of 83.4% in 2018
The kids segment in U.S. was valued at USD 607.6 million in 2018 and is projected to witness significant growth in the next few years
North America was one of the prominent regional markets in 2018 and is expected to exhibit significant growth owing to increasing popularity of field sports at the national and international levels
The industry is highly competitive in nature due to presence of the main players including Nike, Inc.; Adidas Group; and Puma SE
Various manufacturers are concentrating on new product launches and product innovation to expand their consumer base.
The global luxury footwear market size is anticipated to reach USD 49.01 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% from 2020 to 2027. The rising number of millennials across the globe has been a prominent reason for fueling the market growth. According to the Wealth-X report, in 2018, the global high net worth millionaires hold over USD 61 trillion in combined wealth. Moreover, the population of millionaires rose by 1.9% in 2018 compared to the previous year to reach 22.4 million.
Formal shoe luxury footwear led the market and accounted for 58.3% share of the global revenue in 2019. With the growing demand for luxury shoes among the millennial population worldwide, many luxury footwear brands have started catering to the casual shoe category to gain the attention of the consumers. For instance, in 2018, KIZIK design, a luxury footwear brand, announced the launch of its patented hands-free technology that offers automatic fit to the wearer. The shoes come without shoelace and when worn, the technology ensures that shoes are flexibly opened to let the foot go in without the involvement of the hands.
The casual shoe segment is anticipated to be the fastest-growing segment with a CAGR of 5.8% from 2020 to 2027. New product launches in sustainable space, latest styles, fashion shows by famous personalities, and celebrity endorsements in luxury footwear are among the major reasons attracting varied set of consumers worldwide.
The COVID-19 (coronavirus) outbreak is likely to reduce the demand for luxury footwear across the globe. Store closures due to lockdown measures have resulted in grim consequences, with sales of footwear and accessories from both offline and online channels declining consistently. For instance, sales data reported for Amazon between mid-February and mid-March 2020 showed that apparel and footwear sales fell by an average of 40 percentage points. Consumers have become more conscious of their spending habits and tend to avoid buying frivolous or luxury products, which is a major challenge for the market.
The women segment led the market and accounted for 47.2% share of the global revenue in 2019. The increasing participation of women in corporate roles has raised the number of first-time buyers of luxury footwear across the globe. According to the data from the United States Department of Labor, in 2018, close to 45% of the workforce in the U.S. were women. A large number of women are opting for unique and luxury footwear to experience products of high quality and portray a certain image in the society.
Offline distribution channels dominated the market and accounted for a 75.9% share of the global revenue in 2019. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, consumers have the propensity of physically verifying the making, durability, and the uniqueness of the luxury footwear in person by visiting a store as these examinations offer them more confidence to buy the product.
The online distribution channel is expected to witness the fastest growth over the forecast period. The rising popularity of e-commerce channels among the manufacturers and high internet penetration has been driving the sales through this channel. In addition, an increase in the number of luxury private sales websites, such as gilt.com, ruelala.com, and hautelook.com, has been boosting the segment growth.
North America dominated the market for luxury footwear and accounted for 29.1% share of the global revenue in 2019. Growth in the market is powered by the strong presence of high net worth individuals (HNW) in the region. According to a report by Wealth-X, in 2018, New York was the home to the most HNW individuals in the world that is 65% larger than the second city in the world. The people in this region have high disposable income and affluence for luxury products, which is fueling the regional market growth.
By product, formal shoe luxury footwear led the market and accounted for 58.3% share of the global revenue in 2019. The rising importance of luxury footwear as a reflection of one’s professionalism at the workplace, particularly in corporate and fashion industries, is expected to remain a prominent factor augmenting product demand
By distribution channel, the online segment is expected to witness the fastest growth throughout the forecast period. The increasing availability of a wide range of luxury footwear of different brands, free delivery, and seasonal discount on e-retailer platforms are among the major reasons driving the segment
Asia Pacific is expected to register the fastest CAGR of 6.0% from 2020 to 2027. Social media marketing campaigns, growing preference for luxury footwear by millennials, and increasing disposable income have been boosting the number of first-time buyers, thus driving the market in the region.
The global diabetic socks market size is anticipated to reach USD 303.2 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% from 2020 to 2027. The rising prevalence of diabetes worldwide is expected to fuel market growth. According to a report by the International Diabetic Federation, the number of diabetic cases is expected to increase by 25% from 463 million in 2019 to 578 million in 2030. Additionally, countries in South East Asia and the Middle East are expected to witness close to 74% and 96% increase, respectively, in the number of cases by 2045. Increasing cases of diabetes will complement the growth of the market in the coming years.
One of the market drivers is the growing need for non-invasive methodologies. Growing awareness of self-care treatments pertaining to supporting footwear, along with technical advances such as gel padding and the launch of smart socks with fiber-optic sensors, is presenting new growth opportunities for the market. For example, in June 2019, Protect iT, a Swiss brand, launched a therapeutic line and a comfort line of diabetic socks with padded layers to deliver protection to the sensitive and sore-prone areas of the feet for people with diabetes.
By product type, the calf-length socks segment held the largest share of 68.3% in 2019. The growth is attributed to an increase in recommendations by doctors and medical councilors of calf-length socks to diabetic neuropathy patients. These socks help to avoid infection in the feet and any potential damage to their circulatory and nervous systems caused by high blood sugar levels
North America accounted for the largest revenue share in 2019. According to the report by the American Diabetes Association, nearly 1.6 million Americans have type 1 diabetes, including about 187,000 children and adolescents. Growing cases of diabetes in this region are expected to fuel the market growth. Moreover, the presence of leading players in this region is driving the market. For example, in February 2015, Sigvaris USA announced the launch of their new diabetic’s sock designed for diabetic patients. Eversoft diabetic socks with FreshGuard technology treatment that can prevent odor and moisture and decrease the risk of infection by reducing the friction against the skin. Technological innovations are expected to bode well for the regional market.
E-commerce is expected to emerge as the fastest-growing channel in the coming years. Online searches for diabetic socks have increased steadily, particularly in the United States, Canada, the U.K., and Australia. This bodes well for manufacturers and brands planning to set up e-commerce sites to sell products wholesale or retail or is setting up shop with one of the top auction or on-line retail sites, such as eBay, uBid, and Bidz.com. These sites already generate a large amount of traffic, which increases product visibility, thereby enhancing sales of these products through online sales channels.
In terms of product type, the calf-length segment held a 68.3% share of the overall revenue in 2019
Asia Pacific is expected to expand at the fastest CAGR of 5.9% from 2020 to 2027. Growing cases of diabetes are expected to drive the market in the region. China and India are among the top two countries witnessing the largest number of diabetic cases across the globe
By distribution channel, the hypermarket segment held the largest share in 2019 and is expected to retain its pole position throughout the forecast period. The increasing availability of a wide range of diabetic socks in these stores is one of the main reasons driving the segment
Companies with a strong brand image will build traction and new companies who leverage technology will continue to enjoy a greater portion of the marketplace.
The global surfing apparel and accessories market size is expected to reach USD 1.56 billion by 2027, expanding at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. Increasing participation of people in water sports, coupled with growing popularity of surfing as a fitness activity, is a major factor driving the market.
Surfing has been highly perceived as a game of the youth and has emerged as an indicator of active and physically exhilarating sports among young minded people. Enthused by the opportunities existent in this space, a large number of players have been venturing in the surfing industry to develop technological advanced equipment and accessories, which will, in turn, have a positive influence on the surfing apparel market. For instance, in October 2016, Trinity Board Sport announced the launch of a surfboard based on parabolic rail system technology. The board offers 20%-30% more volume than a conventional surfboard, thus offering high degree of balancing and significant performance advantages.
Based on product, surf apparel held the largest share of 77.3% in 2019 and is expected to maintain its lead over the forecast period. Increasing product innovation by leading manufacturers, such as Quiksilver, Channel Islands Surfboards, and Firewire Surfboards, is fueling the segment growth. For instance, in July 2019, Billabong, an Australia-based company announced the launch of a graphene-enhanced surfing apparel named Furnace Graphene. This product is intelligently designed where graphene wrapped yarns trap and retain heat more efficiently, thereby offering warmth to the wearer.
North America emerged as the largest regional market and accounted for a share of 47.3% in 2019. Predominating presence of a well-established water sports/surfing infrastructure in the region is one of the key factors driving the market.
Asia Pacific is expected to be the fastest growing market with a CAGR of 6.0% from 2020 to 2027. International tourist arrivals and tourist expenditure on water sports have set the tone for surfing sports in the region. Many prominent beaches in the region such as Kuta beach in Indonesia, Weligama beach in Sri Lanka, Pansea in Thailand, and Bai Dai beach in Thailand have been gaining traction among the tourists as a popular destination for surfing. These practices have increased the visibility and acceptability of the sport in the region.
By product, surf accessories are expected to expand at the fastest CAGR of 5.7% from 2020 to 2027. Increasing demand for accessories, such as wetsuit booties and reef socks, among professional surfing enthusiasts has been driving the segment
Online distribution channel is projected to expand at the fastest CAGR of 5.9% from 2020 to 2027. The online retailers offer a wide range of surfing apparel and accessories with special pricing and great discounts seasonally offered, which is a key factor enhancing the segment growth
Asia Pacific is anticipated to be the fastest growing market with a CAGR of 6.0% from 2020 to 2027 as a result of changing consumer viewpoint towards adventure water sports
Major manufacturers are adopting various methods for developing eco-friendly outdoor clothing or apparels. For instance, in November 2019, Finisterre, a U.K.-based company, collaborated with Innovate UK’s Knowledge Transfer Partnership and the University of Exeter to design wetsuit techniques that would save close to 380 tons of discarded wetsuits sent to landfill every year in U.K.
The global oil dispersible color market size is expected to reach USD 1.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% over the forecast period. Increasing number of confectionary and bakery products and Rise in the demand for food and beverages are likely to fuel the market growth in the upcoming years.
Shifting inclination towards environment friendly products and stringent government regulations on food safety are some of the factors that drive the global market. Technology advancements have been contributing significantly to the market growth. The natural product segment emerged as the largest segment in 2018 due to increase in awareness related to harmful effects of artificial colors.
For instance, in 2016, DDW, the largest producer of natural colors, have launched a new natural oil dispersible color derived from a non-GMO purple corn hybrid that is mostly cultivated in U.S. Technological advancements, coupled with growing demand for natural colors, are expected to drive the demand for natural oil dispersible color over the forecast period.
The food and beverages segment was the largest application segment in 2018. Increase in demand for bakery products and beverages is anticipated to drive the segment in the upcoming years. Rising demand for flavored frozen and dairy products has also fueled the segment growth. The pharmaceuticals segment is estimated to witness growth during the forecast period owing to increase in product demand in the pharmaceutical industry.
Europe was the largest regional market in 2018 owing to increasing demand for natural food color owing to stringent food safety regulations. Many countries of Europe have been the largest exporters of bakery and confectionary products. Belgium was found to be one of the largest producers of chocolates and candies in Europe. This, in turn, will boost demand for oil dispersible color in the region. Asia Pacific is estimated to be the fastest growing market for oil dispersible color due to increase in awareness related to negative effects of artificial coloring and growing demand from the cosmetic and pharmaceutical industries.
The natural product segment dominated the global oil dispersible color market with an overall revenue share of 81.8% in 2018. The synthetic segment is anticipated to ascend at a CAGR of 4.9% over the forecast period
The food and beverages application segment was valued at USD 478.5 million in 2018 and is projected to exhibit high growth in the next few years
Asia Pacific is anticipated to be the fastest growing market, expanding at a CAGR of 7.0% during the forecast period. China is the largest consumer due to growing demand from the food and beverages industry
Key industry players include DDW The Colour House; Archer Daniels Midland; Naturex; Chr. Hansen Holding A/S; Symrise; GNT International B.V.; Sensient Technologies Corporation; McCormick; Kalsec, Inc.; San-Ei Gen; and Colour Garden
Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.
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