The global squash rackets market size is expected to reach USD 237.2 million by 2025 registering a CAGR of 3.6%, according to a new report by Grand View Research, Inc. Significant increase in the number of squash sports tournaments across the globe is the key factor for the market growth. Moreover, increasing popularity of squash sports plays a key role in increasing the product demand.
Carbon fiber raw material segment is expected to lead the global market over the next few years. Products made of these materials have been gaining traction among amateur and professional players due to lower weight and higher strength and durability. North America was the largest regional market in 2018 and accounted for more than 30% of the overall share. The region will retain its dominant position throughout the forecast years.
Key companies in the squash rackets market include Head N.V., Dunlop Sport, Tecnifibre, Wilson Sporting Goods, Prince Global Sports, Babolat, Ektelon LLC., Amer Sports, ONE SPORTS s.r.l., and Harrow Sports. Major manufacturers focus on new product development to expand their market reach. For instance, in March 2019, Tecnifibre launched a new squash racket with improved design and physical properties under the brand name ‘Tecnifibre Dynergy APX 120’. This racket has arch technology with grommets and 14*17 string patterns for increased powers.
North America was the largest market 2018 and will expand further at a steady CAGR over the forecast period
Europe is expected to be the fastest-growing regional market at a CAGR of 4.0% from 2019 to 2025 owing to the increasing popularity of the sport
Carbon fiber was the largest raw material segment in 2018. The segment is projected to expand further at the fastest CAGR from 2019 to 2025
Brick & mortar was the largest distribution channel segment in 2018. However, online segment will register the maximum growth rate during the forecast years
The global hydration belt market size is expected to reach USD 52.3 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.0% over the forecast period. Growing demand for these products as a source for ensuring continuous intake of hydrating agents among sportsmen is expected to remain a key trend in the market.
In addition, growing awareness regarding fitness through physical activities and exercise among the common mass is propelling the market growth. Coaches and trainers recommend remaining hydrated as the most important part of physical activity. Lack of hydration can negatively impact the cardiovascular system, muscle function, and body temperature. It is expected that one should consume 3 to 8 fluid ounce every 15 to 20 minutes.
It has been observed that millennials across the globe have been increasing spending on maintaining body fitness as a result of increased number of health awareness campaigns by fitness bloggers and gym trainers on social media. For instance, Classpass, a health club, said that 82% people are exhibiting an increasing interest in treadmills. Leveraging the same trend, fitness clubs have started organizing wellness festivals to enhance the number of people interested in regular physical activities. As a result, the consumers will prefer the use of hydration belts in order to keep oneself hydrated.
Key players include Nathan Sports, FITLETIC, URPOWER, Adalid Gear, Salomon S.A.S., CamelBak, Ultimate Direction, FFITTECH, Osprey Packs, Inc., Implus LLC, and Amphipod Inc. Manufacturers have been leveraging these trends by introducing new products to cater to the demand of consumers.
For instance, in July 2018, USWE Sports launched Zulo 2, a cycling hydration waist pack. The small bag has ample space for large bladders of about 1.2 liter. In addition, it is very lightweight and the material of the bag reflects heat in order to keep the content of the bladder cold. The bag weighs around 215 gram and is square in shape. Furthermore, it is connected to hose with a magnetic clip, which makes drinking convenient for the carrier.
By product, without bottle products accounted for 70.4% share of the global revenue in 2018
By form, soft flasks is expected to expand at the fastest CAGR of 11.1% from 2019 to 2025. These products are lightweight in nature, which provides convenience to the consumers
On the basis of protective medium, insulating products are expected to expand at the fastest CAGR of 11.4% on account of their increasing popularity in high altitude mountaineering activity
Based on capacity, single bottle products accounted for more than 45.0% share of the global revenue in 2018
Online channel is expected to expand at the fastest CAGR of 11.5% from 2019 to 2025.
The global workwear market size is expected to reach USD 42.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% over the forecast period. Growing importance of workwear for establishing a good image of the organization in the minds of its clients and associates among the manufacturing firms at a global level is expected to have a positive impact on the market growth. Furthermore, supportive investment friendly policies aimed at upscaling the output in the manufacturing sector of emerging economies including China and India by the national governments is expected to remain a favorable factor over the next few years.
The apparel segment is expected to dominate the market over the next few years. Growing popularity of advanced apparel products fortified with fabric technology, which provides adaptable and lightweight characteristics is expected to have a strong impact. Furthermore, new product launches in terms of development of new apparels, which are equipped with sensors that help in maintaining body temperature, are expected to open new avenues.
The women segment is expected to be the fastest growing category from the period of 2019 to 2025. Over the past few years, the industry participants has launched new products due to increasing participation of women in heavy and hazardous work. For instance, in June 2018, Vajor launched a new workwear for working class women under the brand, ‘Cape & Cloth’. Workwear comprises a wide range of products including clean cut jumpsuits, trousers, pocket dresses, versatile shirts, effortless tops, and relaxed blazers.
Asia Pacific is expected to be the fastest growing market, expanding at a CAGR of 6.9% from 2019 to 2025. Urbanization and infrastructure development in emerging economies including China, India, Thailand, and Philippines is expected to promote the establishment of new commercial set-ups and thus, in turn, will promote the use of workwear. Furthermore, increasing number of smartphone users in the above-mentioned countries is expected to drive workwear manufacturing firms to deploy online channels as a selling medium in order to expand their market reach over the next few years.
Key industry participants include Carhartt Inc.; Alamark, Alsico NV; Alexandra; A. LAFONT SAS; ADITYA BIRLA GROUP; 3M; ANSELL Ltd.; Honeywell International Inc.; and Kimberly-Clark Worldwide, Inc. Companies are adopting strategies such as mergers and acquisitions to increase their market reach. For instance, in January 2018, AHLSELL acquires OUTLET within workwear and personal protection in Västerås.
The global writing instruments market size is expected to reach USD 22.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.4% over the forecast period. Growing awareness regarding the importance of education is expected to remain a key driving factor. Furthermore, increasing application of writing instruments used in promotional apparels and calendars is anticipated to drive the demand for these products in the upcoming years.
North America is expected to remain the fastest growing region, expanding at a CAGR of 8.3% from 2019 to 2025. This region is expected to witness growth on account of high spending power and constant innovative launches of new products, especially in U.S. Furthermore, high significance of education and increasing number of students and working professionals are generating more demand for these products in North America.
Asia Pacific dominated the industry in 2018 and is expected to witness significant growth in the coming years. This growth is attributed to growing awareness regarding educational importance and rapidly increasing population in the countries including China and India. This, in turn, is attracting more investors to invest in R&D so as to meet the needs and requirements of people for different skin types and needs.
Pen accounted for the largest share of 35.6% in 2018 owing to significant shift in the consumer preference from chemical to biodegradable and eco-friendly pens. Rise in the number of educational institutions and corporate offices globally has increased the demand for these products in different regions. Growing application of coloring instruments by artists and painters is anticipated to fuel the product demand over the forecast period.
Students accounted for the largest share in the industry in terms of application and generated a revenue of USD 7.8 billion in 2018. The working professionals segment is anticipated to expand at the fastest CAGR of 8.0% from 2019 to 2025. Growing incorporation of writing instruments in offices and ultimately in lives of working professionals is driving the segment.
Key industry players include Faber-Castle; Mitsubishi Pencil Co., Ltd.; Linc Pen and Plastics Private Limited; Luxor Writing Instruments Private Limited; Pilot (Pen Company); Flair Group of Companies; Newell Brands, Inc.; Hindustan Pencils Private Limited; Shanghai M&G Stationery Inc.; and Pentel Co. Ltd.
The global gym bag market size is expected to reach USD 1.8 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.9% CAGR over the forecast period. The growth in the market is driven by increasing consumer consciousness regarding fitness and the availability of various products and accessories to suit individual needs. Moreover, rapid growth of the fitness and wellness sector in Asia and South America, along with rise in sales of health and fitness equipment, accessories, and products used in the industry and increasing presence of health clubs and fitness centers in these regions are contributing to the growth of this market.
The market is also driven by increasing purchasing power of consumers in developing countries in recent years, which has propelled product demand. Growth of the middle-income population group in these countries has resulted in higher disposable income in recent years. This has enabled them to opt for on-trend, fashionable, and premium products in the health and fitness sector. Surge in new product launches and the impact of ecommerce are other key factors driving the global market. Leading manufacturers are looking to cater to varying consumer requirements when it comes to a gym bag. These are then being made available across a host of online and offline distribution channels.
Increasing number of people turning to healthier lifestyles has also inspired several multinational companies to encourage their employees to take up health and fitness club memberships, a trend that is likely to give the market a boost. Gym bags that are compatible with various smart and connected devices is a lucrative opportunity for players in the market.
In terms of revenue, duffle bags are projected to register a CAGR of 7.5% over the forecast period
The offline channel led the market with a share of 86.6% in 2018. Varied products sold at supermarkets, hypermarkets, specialty stores, and others play a critical role in driving this segment
North America dominated the global gym bag market in 2018, accounting for 38.3% of the revenue that year. This trend is projected to continue over the next few years
A growing health and fitness industry, fueled by increasing awareness regarding fitness and well-being among consumers, is expected to propel the market
With increasing disposable income in India, South Korea, China, and Japan, these markets offer lucrative opportunities for growth in Asia Pacific
The industry is highly competitive in nature with the main players being JensenLee; Everlast Worldwide, Inc.; Chateau Manufacturing; Harissons; Nike, Inc.; ToteBagFactory; Herschel Supply Co. USA; and Adidas AG
Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovations to estimate existing and future demand patterns from upcoming product segments
The global athleisure market size is expected to reach USD 517.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.1% over the forest period. Increasing adoption of fashionable active wear in corporate houses and work places is expected to be a key driver. In addition, extensive brand campaigns by apparel manufacturers through the inclusion of various media and sports celebrities have changed the perception of active wear as a fashionable wear among millennial and young customers across the globe.
Premium athleisure was the largest product segment with a market share of more than 65.0% in 2018. Major manufacturers including Adidas AG;Lululemon Athletica, Inc.; Nike, Inc.; PUMA SE; and Under Armour, Inc. are collaborating with the celebrities and launching new products in order to gain maximum customers.
For instance, in March 2016, Julianne Hough signed an agreement with MPG Sport USA for promoting athleisure collection. The company collaborated with the actress for influencing the customers with a fitness freak actress. These initiatives are expected to increase the product’s visibility among buyers over the next few years.
Asia Pacific is expected to be the fastest growing region at a CAGR of 8.8% from 2019 to 2025. Over the past few years, the industry participants have adopted marketing strategies including innovative product launches, celebrity endorsements, increasing exclusive stores, and focus on e-commerce in order to cater to the increasing demand for technological advanced products in the developing countries including China and India.
For instance, in April 2018, Adidas AG announced to close their brand stores and focus on the development of e-commerce. The company has already closed around 220 stores across the globe in 2017 and is aiming to increase the revenue generated from e-commerce. These trends are expected to boost the market growth over the forecast period.
Key players include Lululemon Athletica, Inc.; Adidas AG; Nike, Inc.; PUMA SE; Under Armour, Inc.; AJIO Company; H&M; HUMAN PERFORMANCE ENGINEERING; EYSOM, LLC; and Esprit Retail B.V. & Co. KG. Product innovation is expected to remain a critical success factor among the manufacturing firms over the next few years.
The global men’s underwear market size is expected to reach USD 42.22 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.3% during the forecast period. Increasing awareness about health, best fit and personal hygiene, and rise in millennial population, are expected to drive the growth. Increasing availability of a wide range of products in multiple designs suitable for various purposes such as sports, regular wear, and functional wear among others is projected to further fuel the demand.
Improving fashion trends, increasing disposable income, and changing consumer lifestyle and preferences are expected to boost the market growth. Increasing concerns regarding the fabric used for manufacturing underwear is one of the major factor driving the market. Availability of a wide variety of fabrics such as cotton, polyester, nylon, rayon, silk, and cotton blends further drive the product demand. Underwear manufactures are focusing on intimate product designs and patterns such as thongs, C-string, tanga, and jockstraps among others, which is projected to further fuel the product demand. Millennials are more receptive to new and different products. Demand for new and innovative products in terms of color, fabric, print, and style among others is high among millennials, which in turn is creating opportunity for the manufactures in the market.
Companies focus on R&D to make the products suitable for all shapes and sizes. Innovation in advance tailoring along with new fabric modal, viscose or merino wool, helps in reducing moisture and regulate temperature is driving the competitiveness in the market. For Instance, Saxx offer 3D hammock shaped pouch that prevent skin-against-skin friction with the help of mesh panels which features no exposed stitching for chafe free comfort. Also, Under Three-D fit range they have created a 3D shaping around glutes, thighs, quads and hamstrings by using nine panels of fabric to make consumers fit, feel and functional.
By type, the men’s underwear market is segmented into briefs, boxer brief, trunks, boxers, and others. Boxer brief is estimated to hold the largest market share of approximately 33.0% owing to the factors such as sleek fit, better support, and comfort offered by the product. Boxer brief are designed to imitate tapered boxers with a snug fit and they remain comfortable like briefs. They are available with numerous pouch options, for instance the contour pouch by Calvin Kelvin.
Trunks is estimated to register the fastest CAGR of 5.7% from 2019 to 2025. Trunks are gaining popularity among millennials and Generation X as they are more versatile and suitable for everyday wear including dressing up occasions and for sportswear. Trunks are lean short than boxer brief which allow the legs and thighs to look muscular and slimmer, which drives their popularity among younger generation.
By Fabric, the market is segmented into cotton, polyester, modal, nylon, and others. Cotton fabric underwear held the largest market share of approximately 68.0% in 2018, attributed to the properties of the cotton that makes underwear soft, lightweight, and more breathable. Consumers prefer cotton fabric underwear over others for the comfort, high absorbency, and moisture resistance of the fabric. Modal fabric underwear is projected to register the fastest CAGR of 5.6% over the forecasted period. It is a type of rayon and the second generation regenerated cellulosic fiber which is around 50% more absorbent than cotton. It is the softest fabric in men’s underwear segment. Shrink resistance, high wet strength, and absorbent properties of the fabric make it more durable and able to sustain multiple washes and suitable for tumble dry.
Asia Pacific is the largest and fastest growing market for men’s underwear. It is projected to expand at the fastest CAGR of 5.9% over the forecasted period. High demand for underwear owing to high male population in the region can be accredited to the growth. China and India accounted for male population of 714 million and 694 million respectively in 2017. Both these countries together account for more than 70.0% of the regional market.
Boxer brief type segment held the largest market share of approximately 33.0%% in 2018 and is expected to reach USD 14.23 billion by 2025
Cotton fabric held the largest market share of more than 68.0% in 2018, driven by the properties of cotton that make the underwear soft, lightweight, more breathable, highly absorbent, and moisture resistant
Key players in the men’s underwear market are Phillips-Van Heusen Corporation; Hanesbrands Inc.; Jockey International Inc.; American Eagle Outfitters Inc. and Ralph Lauren Corporation
The global baby car seat market size is expected to reach USD 10.9 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% over the forecast period. Growing awareness regarding child safety, along with the implementation of numerous government regulations in countries including France, Germany, and U.S., is driving the market. For instance, in U.S., there are laws stated by the Insurance Institute of Highway Safety for 50 states, which need to be followed for child safety.
The convertible product segment is expected to expand at the fastest CAGR of 7.1% from 2019 to 2025. It is more economical as compared to other products as it is well suited for both infants and toddlers. It provides both rear and front-facing seats for children.
Europe accounted for the largest share in 2018 and is expected to maintain its lead over the forecast period. Increasing number of government initiatives to use the product for a child of age-group between 0 to 12 years has driven the market. Asia Pacific is expected to be the fastest growing market at a CAGR of 10.4% from 2019 to 2025.
Increasing number of accidents in developing countries such as India and China has led to the rise in installation of the product. However, despite the implementation of various laws, these are not being followed by the national citizens. According to the General Administration of Quality Supervision, Inspection and Quarantine, approximately 18,500 babies die every year due to car accidents in China.
Hypermarkets and supermarkets dominated the industry, accounting for 55.6% share of the overall revenue in 2018. High penetration of these distribution channels in developed economies including U.S. and Germany, along with preference for the technical know-how about the products, has been fueling the growth of this sector.
Key producers of this industry include Dorel Industries Inc.; Goodbaby International Holdings; UPPAbaby; RENOLUX FRANCE INDUSTRY; RECARO Holding GmbH; Newell Brands; Mothercare plc; InfaSecure; Kiwi Baby; and Artsana Group. Product innovation is expected to remain one of the key strategies over the next few years.
For instance, in 2018, Goodbaby International Holdings Limited launched a convertible baby car seat, Cybex Sirona M. This product features sensor safe technology and enables the smart phone connectivity. The smart phone connectivity renders an alert to the driver if the seat is unbuckled during traveling in case of extreme cold or hot temperatures.
According to a report published by Grand View Research, a key factor driving the demand is an increasing trend of using luxury watches, along with limited edition watches with numerous styles as a status symbol among adults.
According to a report, “Luxury Watch MarketSize, Share & Trends Analysis Report By Product (Mechanical, Electronic), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global luxury watch market size is expected to reach USD 9.3 billion by 2025, expanding at a CAGR of 4.3% over the forecast period. Increasing consumer preference to purchase luxury watches as a style statement is expected to have a strong impact on the market growth. Furthermore, the increasing importance of e-commerce portals including Amazon and Flipkart as a selling medium for providing access to limited edition watches is projected to expand the industry size over the next few years.
An increasing number of aristocratic women in Western European countries including Germany, France, and the U.K. who wear intricate watches on the wrist is expected to remain a prominent trend. Furthermore, new product launches in Unisex collection by companies including Rolex, Cartier, and Tag Heuer are projected to expand the buyer reach over the next few years.
Mechanical products accounted for the largest share of more than 75.0% in 2018. Excellent durability due to the presence of Titanium ceramic coatings and PVD coatings in mechanical watches is expected to maintain its lead in the near future.
On the basis of product, in 2018, the mechanical product segment accounted for more than 75% of the market share. A significant population of the business class tends to purchase this product as it can be used as a status symbol.
The electrical products segmentis expected to expand at the fastest CAGR of 4.7% from 2019 to 2025. The companies are expanding their product line on smartwatches fitted out with advanced functionality such as heart rate monitor, GPS capabilities, and multisport tracking.
On the basis of the distribution channel, the online channel is expected to witness a CAGR of 6.5% during the forecast period. The growth can be attributed to the several customer-centric services such as value-added offerings, cash on delivery, convenient refund policy, and integrated and centralized customer services.
The offline category accounted for more than 85.0% share of the global revenue in 2018. The major factor contributing to the growth of this segment is the growing consumer preference for purchasing high-end products from retail stores.
The Asia Pacific is expected to be the largest regional luxury watch market over the next few years. Expansion of middle-class income groups in emerging economies including China, India, and Vietnam on account of urbanization and the increasing number of commercial set-ups is expected to promote the use of luxury watches over the forecast period.
The global sports protective equipment market size is expected to reach USD 12.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% over the forecast period. The market is expected to witness significant growth owing to growing popularity of sports activities in schools and colleges.
Increasing popularity of outdoor games such as soccer and American football is expected to increase the demand for sports protective gears over the forecast period. Moreover, increasing number of sports leagues and outlets is expected to provide growth opportunities for the market in the coming years. In addition, sports clubs are raising awareness among people by conducting events at various places across the world, which will have a positive impact on the sports protective equipment market growth.
For instance, since 2007, the National Football League (NFL), one of the most popular sporting leagues in U.S., has organized several events in London to increase awareness regarding American football. In 2017, NFL 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 head and headgear product segment dominated the market and is expected to maintain its lead over the forecast period. The growth is attributed to increasing awareness regarding head injuries. For instance, Phillip Joel Hughes was an Australian Test and One Day International (ODI) cricketer who played domestic cricket for South Australia and Worcestershire, died during the match due to head injury, which has created awareness among the young enthusiastic players. Leg protection gears are expected to register the highest CAGR of 5.6% from 2019 to 2025. The segment growth is attributed to increase in the number of participants in individual sports, such as mixed martial arts, cycling, boxing, and skating.
North America was the largest regional market in 2018. U.S. was the major revenue contributor in North America. Increasing popularity of football, field hockey, and ice hockey is anticipated to drive the regional market over the forecast period. Asia Pacific is expected to expand at the fastest CAGR of 6.7% over the forecast period. Increasing number of sports equipment outlets in India and China and rising wealth and health awareness in the region is expected to have a positive impact on the market growth.
By product, leg protection gear is projected to expand at the fastest CAGR of 5.6% over the forecast period. Head and headgear was valued at USD 2.8 billion in 2018 and is projected to witness significant growth in the next few years
The offline distribution channel segment dominated the global market in 2018 with 92.0% share of the overall revenue
North America dominated the global market in 2018 and accounted for 40.0% share in terms of revenue. This trend is projected to continue over the next few years
Growing popularity of field sports at the national and international levels is expected to drive the market over the forecast period
The industry is highly competitive due to presence of main players including Nike, Inc.; Adidas Group; MIZUNO Corporation; Shock Doctor, Inc.; BRG Sports; Amer Sports; Xenith, LLC; WARRIOR SPORTS; FRANKLIN SPORTS INC.; and Alpinestars S.p.A.
Various manufacturers are concentrating on new product launches and product innovation in order to expand their consumer base.
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