The global gas fire table market size is expected to reach USD 116.6 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.0% from 2020 to 2027. Gas fire tables have emerged as one of the most popular trends among the residential owners looking to upgrade and model their outdoor living areas.
A Better Homes and Gardens survey reveals that 51% of the millennials decorate their outdoor living space as they would an indoor dining or living room and 77 percent say they want their outdoor living space to feel like a relaxing retreat. The survey also shows millennials are interested in upgrading their outdoor spaces with landscape lighting (27%), a fire pit (26%), lamps or party lights (24%), and comfortable outdoor seating, dining sets, and other accessories (24%) to create a cozy environment in the outdoor spaces.
The natural gas-based fire tables are expected to witness the highest growth in the coming years owing to its lightweight and ability to dissolve rapidly, which leaves very little room for accidental ignition. Propane based fire tables allow the users to make a fire during burn bans in certain areas. Propane pits also generally emit less heat than a large wood-burning fire pit, thereby driving the demand for this product.
Consumers have been preferring offline distribution medium due to discounted prices and budget-friendly offers provided by retailers, which has driven more customer footfall in physical stores. Moreover, the availability of varied quality gas fire tables at an affordable rate offered by local manufacturers is likely to attract a greater number of customers to offline channels. Strong localized positioning and increased focus on customer needs and experience are the major factors that are expected to foster the growth of this distribution channel segment.
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 feminine wipes market size is anticipated to reach USD 2.07 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% from 2020 to 2027. Demand for the product is driven by rising awareness among women worldwide regarding genital hygiene. At a macro level, increasing instances of early puberty are contributing significantly to the market growth.
The novel COVID-19 pandemic has contributed significantly to the market growth, with a sizable number of consumers worldwide keeping a stock of products (feminine wipes) that could last for months. Thus, panic buying is likely to create an unprecedented demand for the product throughout 2020. Though numerous leading retail outlets shut down operations due to the COVID-19 crisis during the first half of 2020, online sales of feminine wipes continue to remain healthy, most notably in the Asian markets.
Despite its rising popularity as a convenient feminine intimate care product, feminine wipes continue to face an increasing threat of substitution from a host of products, including washes, creams, and moisturizers. However, key market players are expected to offer products manufactured using sustainable raw materials to offset the threat of substitution for their products.
Asia Pacific emerged as the largest regional market for feminine wipes in 2019. Led by countries such as India and China, the Asia Pacific market is driven by an increasing number of health-conscious women. Southeast Asian markets, including Vietnam and Indonesia, have witnessed healthy gains across retail platforms over the years, thereby emerging as engines of growth. On the other hand, India is likely to emerge as the most lucrative market for feminine wipes in the foreseeable future, given the efforts being made by the industry and the government to promote hygiene practices among women countrywide.
The market is largely fragmented, with both domestic and international players sharing the market space. Market participants are expected to deploy mergers & acquisitions and product innovation as their key strategies to remain competitive in the coming years.
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 air freshener dispenser market size is anticipated to reach USD 13.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 15.2% over the forecast period. Growing preferences for high-end lifestyles, coupled with demand for convenient devices that help in hassle free air care, has been providing lucrative opportunities for the global market.
Consumers’ demand for automated utility products is driving the popularity of air freshener dispensers. Electric dispensers are commonly used across the residential and commercial sectors. Features such as effective functionality, compact designs, portability, and convenient use are resulting in increasing traction of this product. Wall mounted dispensers, which serve as a handy gadget, have the highest acceptance due to their easy installation. For instance, Qbic is a brand owned by CGS Stores LTD, a company that specializes in online stores. This store offers a wide range of electric air freshener dispensers sourced from Europe, Asia, and U.S.
Online distribution channel is expected to expand at the fastest CAGR of 15.6% over the forecast period. Companies are tying up with online retailers as well as introducing their e portals. For instnace, Alibaba, Hygiene Supplies Direct U.K., Amazon, and Walmart tied up with leading home fragrance manufactures. Brands such as Airwick by Reckitt Benckiser are widely available on retailer websites such as ASDA, TESCO, Sainsbury’s, Morrisons, Waitrose, Ocado, and Amazon in U.K.
The residential end user segment accounted for a major share of more than 70.0% in 2018. Growing need to maintain healthy indoor air quality, consumers’ busy lifestyle, and increasing preferences for automated products have resulted in increased popularity of air freshener dispensers. Companies are continuously focusing on offering modified features and technology that eliminates the need for any manual intervention. The commercial end user segment is expected to witness the highest growth over the forecast period owing to growing importance of maintaining hygiene in the public areas with minimal manual operations.
Europe accounted for the largest market share in 2018. Effective retail infrastructure, presence of large number of online retailers, and high purchasing power of the consumers are some of the factors contributing to the market growth in Europe. The market in Asia Pacific is expected to witness the highest growth during the forecast period. The market is expected to be driven by improvement in lifestyle, coupled with increasing purchasing power in countries such as China and India.
The global air freshener dispenser market is expected to expand at a CAGR of 15.2% from 2019 to 2025
By end user, the residential segment accounted for a share of more than 70.0% in 2018 and is expected to witness steady growth over the forecast period
By distribution channel, supermarkets/hypermarkets held a major share of more than 40.0% in 2018 and is expected to maintain its lead in the next few years
Key market players include Vectair Systems Ltd.; Reckitt Benckiser Inc.; Qingdao Anyfeel Electric Co. Ltd.; Jarden Corporation; Farcent Enterprise Co. Ltd.; S.C. Johnson & Son Inc.; Church & Dwight Co. Inc.; Procter & Gamble Co.; and Henkel KGaA.
The global laptop backpack market size is expected to reach USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.8% over the forecast period. Rising consumer needs for technical gadgets in the workplace as well as educational institutes have created demand for backpack to provide protection from scratches, water damage, moisture, and heat. Manufacturers are increasing spending on new product developments to fulfill consumer growing demand. For instance, in July 2016, Samsonite IP Holdings S.AR.L launched protective laptop backpacks for professionals and school students.
The student application segment is expected to witness the fastest growth in the forecast period. Smart laptop backpacks in new color designs is gaining popularity among students as a result of new product launches by manufacturing companies in e-commerce portals. For instance, in August 2018, India based company, Portronics.com launched smart laptop backpack under their existing Elements series. Furthermore, increased use of laptops among students in developed economies including U.K. and Germany is expected to have a positive impact on the Laptop Backpack market growth.
Online distribution channel is expected to be the fastest growing channel, expanding at a CAGR of 4.7% from 2019 to 2025. These channels have gained popularity as they offer products on high discounts, which attract consumers to prefer this channel. Growing penetration of smartphones in developing countries including China, India, Mexico, Brazil and South Korea is expected to promote the access of online retailers in the near future.
Asia Pacific held the largest share in 2018 and is expected to register the fastest CAGR of 4.5% from 2019 to 2025. Expansion of the middle class population in developing countries such as China and India, coupled with requirement of technical gadgets at schools, colleges, and workplaces, is expected to remain a key factor driving the market. Furthermore, positive outlook towards the laptop and tablets industry in countries including China, India, and Australia as a result of increasing number of corporate companies and educational institutes is expected to open new avenues over the next few years.
Key laptop bag manufacturers include Nike, Inc.; Kensington Computer Products Group; Samsonite International S.A.; WINPARD; The Targus Corporation; Adidas AG; Belkin International, Inc.; Li-Ning Co., Ltd.; Samsonite International S.A.; and Tumi Holdings, Inc. Companies are working on developing new products, which will provide better convenience to the consumers.
The business application segment generated a revenue of USD 531.2 million in 2018 owing to predominant use of laptops among working class professionals
Online channel is projected to ascend at a CAGR of 4.7% from 2019 to 2025
Asia Pacific is expected to expand at the fastest CAGR of 4.5% from 2019 to 2025
U.S. is projected to generate a revenue of exceeding USD 240 million by the end of 2025
New product development is expected to remain a key strategy among the industry participants.
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 processed mango products market size is expected to reach USD 25.55 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.4% during the forecast period. Increasing demand for fruit-based food and beverages is anticipated to the primary growth driver.
Secondary processed mango products occupied the largest market share in 2018 owing to increasing demand for the juices. Mango is one of the most consumed and cultivated fruits in India. To leverage the consumer preference for mango flavor and increase product offering, Coco-Cola launched a new mango-flavored premium juice – Maaza Gold in December 2017. Similar product launches in different regions are expected to drive the demand.
Primary processed product segment, on the other hand, is anticipated to witness significant growth owing to increasing export and consumption of mango pulp. The pulp and concentrates are used to make carbonated beverages, juices, confectioneries, jams, and marmalades among others. Increasing application of the pulp in various food and beverages is expected to further propel the segment growth.
Online distribution channel segment is anticipated to register the fastest CAGR over the forecast period, due to growth of e-commerce and digital marketing. Introduction of online grocery websites like Walmart, Costco, and BigBasket among others is expected to drive the overall food and beverage market via online distribution. This is expected to positively influence online sales of processed mango products over the forecast period. Key manufacturers are launching their own websites and are investing in efficient logistics and customer services to increase online sales and to improve their market reach.
Asia Pacific held the largest market share in 2018 due to the presence of the major players as well as concentration of global production of the fruit in countries like India and China. Moreover, the regional production is expected to increase due to rising demand from the countries like Japan. North America, on the other hand, is expected to register the fastest CAGR during the forecast period, attributed to high demand for mango flavored food and beverages coupled with rise in demand for organic mangoes. U.S. is one of the major importers of mangoes and mango-based products.
In March 2019, Amul entered the fruit juice market by launching ‘Amul Tru’ in mango, orange, apple, and lychee variants. This packaged fruit drink is Amul’s strategy to compete with Frooti, Mazaa and other drinks in the global market. In April 2018, Bisleri launched Bisleri Fonzo, a mango-based carbonated beverage to increase its product offering and serve the consumers who prefer mango-based beverages.
Primary processed product segment is expected to ascend at a CAGR of 6.9%, attributed to the rise in demand for the pulp in confectioneries, smoothies, and beverages
Offline distribution channel accounted for the maximum processed mango products market share in 2018 and is anticipated to continue leading over the forecast period
In Middle East and Africa, countries like UAE and Saudi Arabia are expected to witness a rise in demand due to increased exports from India, Pakistan, and Kenya.
Mexico has opened its market to import of dried mango slices from India after conducting a thorough pest risk analysis of the product consignments. This factor is anticipated to bode well for the overall growth in near future
The global whipping cream market size is expected to reach USD 10.35 billion by 2025 registering a CAGR of 8.1%, according to a new report by Grand View Research, Inc. Rising consumption of foods, such as pies, ice creams, cupcakes and cakes, puddings, scones, milkshakes, hot chocolate, espresso drinks, and coffee drinks, is expected to remain a favorable factor for the market growth.
Furthermore, rising awareness about the health benefits of whipping creams, such as improved bone health and immune system, due to the presence of vitamins A, D, E, K, and choline. Companies are investing more in product development to increase their market share. For instance, in August 2018, Kraft Heinz partnered with Hershey’s and launched Milk Chocolate Dairy Whipped Topping and Peanut Butter Cup Dairy Whipped Toppings.
In Feb 2019, Amazon launched new private label Happy Belly brand in its dairy and beverage product line. Under this brand umbrella, the company will sell numerous product variants including half and half, heavy whipping cream and dairy whipped topping. In March 2019, DuPont Nutrition & Heath launched Grindsted WP 300 Flexwhip, a sugar-free non-dairy whipping cream. In May 2019, Gay Lea, a Canadian milk and dairy products company, launched a new non-dairy vegan real coconut whipped cream.
The dairy product segment accounted for the largest market share of more than 60% in 2018 and will continue to expand further at a steady CAGR from 2019 to 2025
The B2B application segment is expected to register the fastest CAGR of 8.2% from 2019 to 2025
Europe is expected to be the largest regional whipping cream market accounting for a market share of more than 35% by 2025
Online distribution channel is expected to be the fastest-growing segment at a CAGR of 8.5% from 2019 to 2025
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
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