Tag: Specialty Stores

Smart Bed Market Size Worth $3.1 Billion By 2027

The global smart bed market size is anticipated to reach USD 3.1 billion by 2027, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Rising prominence for gaining a healthy sleep through the infusion of sensor-based advanced technology is the growing demand for smart beds. In addition, rising penetration of smart homes across regions is also paving way for technologically integrated household products, thereby paving the way for increased growth of the market.

The rapid development of smart home technology and their penetration across developed nations of America and Europe is positively impacting the demand for the product. According to the European Commission in 2017, Europe’s smart home revenue is expected to reach USD 19.0 billion by 2021, through its massive markets in the U.K. and Germany. Additionally, useful features compiled in the product such as customized mattress firmness that can sense and react to body temperature, tracking breathing, heart rates, and restfulness is gaining consumer’s attention.

Increasing instances of sleeping disorders among individuals particularly in the U.S. is deriving higher traction in the industry. According to American Sleep Association (ASA), insomnia is the most common sleep disorder, with short term issues reported by about 30.0% of adults and chronic insomnia by 10.0% in the country as of December 2019. In addition, 37.0% of those among 20-39-year-olds, and 40.0% of those among 40-59-year-olds expressed short sleep duration. While 35.3% of adults reported less than 7 hours of sleep during a typical day. These instances have raised the need for healthy and quality duration of sleep among consumers, thereby driving product demand in various application segments including households, hospitals, and hospitality.

In terms of application, the residential segment held a dominant position in the market in 2019. Lifestyle inflation among low, middle as well as high-income individuals are paving the way for increased spending among consumers towards relaxation and comfort, thereby scaling the demand for smart beds. Also, new innovations led by manufacturers in the industry with new product launches are likely to ramp up the sales for the product. For instance, in February 2019, Eight Sleep introduced a new biometric-monitoring smart bed.

The specialty stores segment accounted for a dominating revenue-based share of 66.5% in 2019. These stores provide training to their employees to assist customers and few of them also offer price-matching guarantees. In addition, major retail chains are focusing on establishing new stores with innovative layout, which is projected to support the growth of this segment in the coming years.

North America dominated the market with a revenue share of 60.2% in 2019. Increasing penetration of home automation in the region is also boosting the demand for smart furniture such as smart beds. According to the European Commission in 2017, smart home revenue in the U.S. is expected to grow over three-fold between 2016 and 2021, exceeding USD 32.0 billion. Additionally, various sleep-related disorders prevalent in the U.S. is triggering higher demand for quality sleep patterns among individuals. According to the American Sleep Association, 50-70 million adults in the U.S. have a sleep disorder. Also, around 25.0 million adults in the U.S. have obstructive sleep apnea.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-bed-market

Further key findings from the study suggest:

  • The hospital application segment is expected to reach USD 628.4 million by 2027 and is anticipated to witness a CAGR of 5.2% from 2020 to 2027
  • The specialty stores segment was valued at USD 1.4 billion in 2019 and is expected to reach USD 2.1 billion by 2027
  • In Asia Pacific, the market is expected to witness substantial growth over the forecast period with a revenue-based CAGR of 5.6% from 2020 to 2027.

Vegan Women’s Fashion Market Size Worth $1,095.6 Billion By 2027

The global vegan women’s fashion market size is anticipated to reach USD 1,095.6 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.6% from 2020 to 2027. Increasing the inclination of people towards cruelty-free fashion is an important aspect of driving the demand for fashion apparel made from vegan material.

People in developed countries, especially in the U.S, the U.K., France, and Germany have become more receptive to the concepts of veganism and have been following this practice in all walks of life, including food habits and clothing. These consumers do not mind paying higher prices for vegan women’s fashion, thus fueling the growth of the market.

Enthused by the opportunity existence, companies pertaining to vegan fashion not only focus on providing the latest styles but also cater to cultural trends and burgeoning style quotient to attract a varied set of consumers through constant product launch. For instance, in August 2019, an Amsterdam-based denim brand called Kings of Indigo, announced itself to be a fully-vegan company with the launch of ‘no new cotton’ capsule collection- Re Gen, offering a limited edition of jeans and jacket collection for women, men, and kids. Such developments are expected to create a healthy demand for the product over the forecast period.

Based on the product, the vegan footwear segment led the market and accounted for 41.3% share of the global revenue in 2019. The growing popularity of animal safety among consumers has goaded established footwear manufacturers to offer elegant footwear made from natural ingredients to pique the interest of the informed customers. For instance, in November 2019, Reebok International Limited, a company owned by Adidas AG, unveiled the design for its first plant-based running shoe, called Floatride GROW. The upper part of the shoe is made primarily from eucalyptus whereas its soles are made from castor beans and natural rubber. The company had launched this design two years after it started selling a vegan version of its famed Newport Classic shoes made with cotton and corn.

By distribution channel, specialty stores dominated the market and accounted for 31.4% 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, these stores keep their stores more updated with the latest vegan fashion trends in the market, thus attracting more consumers who are looking for variety in the product.

Covid-19 pandemic has affected the sales of vegan women’s fashion adversely as people have become more focused on their buying behavior and consider avoiding buying fashionable apparel or accessories. The vegan fashion market is in the burgeoning stage and has been severely impacted by the lockdown condition and supply chain disruption. According to the entrepreneur.com, the U.K. apparel sector is expected to be the worst affected with a decline of more than 41% in the usual spending by consumers since the outbreak of the coronavirus.

North America dominated the market for vegan women’s fashion and accounted for 34.6% share of the global revenue in 2019. Growth in the market is powered by the strong presence of manufacturers, including Whimsy & Row and Reformation, along with a well-developed supply chain in the region. Moreover, people in countries such as the U.S. have a large number of animal rights organizations, such as the American Society for the Prevention of Cruelty to Animals, and The Anti-Cruelty Society, which have been promoting the concept of veganism.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/vegan-womens-fashion-market

Further key findings from the study suggest:

  • Europe is expected to expand at the fastest CAGR of 14.5% from 2020 to 2027. Social media marketing campaigns, growing preference for vegan women’s fashion apparel by millennials, and the presence of a large number of manufactures are expected to drive the market in the region. The U.K. and Germany are among the top two countries witnessing the growth of the market
  • The e-commerce segment is expected to emerge as the fastest distribution channel over the forecast period. The increasing availability of a wide number of vegan women’s fashion clothing and accessories of different brands at affordable prices on e-retailer platforms is one of the main factors fueling the segment growth.
  • The specialty store distribution channel segment held the leading revenue share in 2019. Adoption of key strategies such as offers and discounts by the market players along with the availability of a wide range of products is anticipated to attract a larger consumer base and fuel the growth of the segment
  • By product, the vegan footwear segment dominated the market and accounted for a share of 41.3% in 2019 as it is becoming more of a fashion statement among women. Moreover, increasing popularity of animal safety among consumers is fueling the demand for these products

Vegan Women’s Fashion Market Size Worth $1,095.6 Billion By 2027

The global vegan women’s fashion market size is anticipated to reach USD 1,095.6 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.6% from 2020 to 2027. Increasing the inclination of people towards cruelty-free fashion is an important aspect of driving the demand for fashion apparel made from vegan material.

People in developed countries, especially in the U.S, the U.K., France, and Germany have become more receptive to the concepts of veganism and have been following this practice in all walks of life, including food habits and clothing. These consumers do not mind paying higher prices for vegan women’s fashion, thus fueling the growth of the market.

Enthused by the opportunity existence, companies pertaining to vegan fashion not only focus on providing the latest styles but also cater to cultural trends and burgeoning style quotient to attract a varied set of consumers through constant product launch. For instance, in August 2019, an Amsterdam-based denim brand called Kings of Indigo, announced itself to be a fully-vegan company with the launch of ‘no new cotton’ capsule collection- Re Gen, offering a limited edition of jeans and jacket collection for women, men, and kids. Such developments are expected to create a healthy demand for the product over the forecast period.

Based on the product, the vegan footwear segment led the market and accounted for 41.3% share of the global revenue in 2019. The growing popularity of animal safety among consumers has goaded established footwear manufacturers to offer elegant footwear made from natural ingredients to pique the interest of the informed customers. For instance, in November 2019, Reebok International Limited, a company owned by Adidas AG, unveiled the design for its first plant-based running shoe, called Floatride GROW. The upper part of the shoe is made primarily from eucalyptus whereas its soles are made from castor beans and natural rubber. The company had launched this design two years after it started selling a vegan version of its famed Newport Classic shoes made with cotton and corn.

By distribution channel, specialty stores dominated the market and accounted for 31.4% 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, these stores keep their stores more updated with the latest vegan fashion trends in the market, thus attracting more consumers who are looking for variety in the product.

Covid-19 pandemic has affected the sales of vegan women’s fashion adversely as people have become more focused on their buying behavior and consider avoiding buying fashionable apparel or accessories. The vegan fashion market is in the burgeoning stage and has been severely impacted by the lockdown condition and supply chain disruption. According to the entrepreneur.com, the U.K. apparel sector is expected to be the worst affected with a decline of more than 41% in the usual spending by consumers since the outbreak of the coronavirus.

North America dominated the market for vegan women’s fashion and accounted for 34.6% share of the global revenue in 2019. Growth in the market is powered by the strong presence of manufacturers, including Whimsy & Row and Reformation, along with a well-developed supply chain in the region. Moreover, people in countries such as the U.S. have a large number of animal rights organizations, such as the American Society for the Prevention of Cruelty to Animals, and The Anti-Cruelty Society, which have been promoting the concept of veganism.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/vegan-womens-fashion-market

Further key findings from the report suggest:

  • Europe is expected to expand at the fastest CAGR of 14.5% from 2020 to 2027. Social media marketing campaigns, growing preference for vegan women’s fashion apparel by millennials, and the presence of a large number of manufactures are expected to drive the market in the region. The U.K. and Germany are among the top two countries witnessing the growth of the market
  • The e-commerce segment is expected to emerge as the fastest distribution channel over the forecast period. The increasing availability of a wide number of vegan women’s fashion clothing and accessories of different brands at affordable prices on e-retailer platforms is one of the main factors fueling the segment growth.
  • The specialty store distribution channel segment held the leading revenue share in 2019. Adoption of key strategies such as offers and discounts by the market players along with the availability of a wide range of products is anticipated to attract a larger consumer base and fuel the growth of the segment
  • By product, the vegan footwear segment dominated the market and accounted for a share of 41.3% in 2019 as it is becoming more of a fashion statement among women. Moreover, increasing popularity of animal safety among consumers is fueling the demand for these products

Organic Shampoo Market Size Worth $1.4 Billion By 2025

The global organic shampoo market size is expected to reach USD 1.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.1% over the forecast period. Growing popularity of natural ingredients in beauty and hygiene products has encouraged manufacturers to introduce organic shampoos, thereby driving consumer preference for this market. Growing awareness of personal hygiene, along with rising preference for chemical free products, is expected to drive the market in the next few years.

Growing trend of online shopping of health and beauty products among the consumers has paved the way for the brands to introduce their e-commerce channels, thereby widening their distribution. As per the recent trends, about 19% of Generation Z and 14% of millennials prefer online purchase of natural and organic beauty products due to factors such as convenience and availability of a wide range of new brands and their products.

Organic shampoos are gaining an increasing traction due to growing preference for environment friendly products that are free from sodium lauryl sulfate, potassium sorbate, and artificial fragrances. This, in turn, is providing an impetus to the companies to expand their product offerings by introducing organic shampoo, thereby contributing to the market growth.

Supermarkets/hypermarkets accounted for a revenue share of 56.02% in 2018. Physical display of products and ability to check the product attributes have been the major factors driving the popularity of supermarkets/hypermarkets. The layout of the supermarket and promotional campaigns by leading brands have also increased the sales volume in the supermarket and hypermarket segment. Organized retail sectors have been driving the market by providing ample space and visibility for the existing brands to offer their products.

North America accounted for the largest share of 34.8% in 2018, followed by Europe with 24.9% share in the global organic shampoo market. In U.S., consumers have a high preference for organic beauty care concept mainly due to the skin and environment friendly nature of those products. Moreover, the product demand is driven by strong regulatory framework that limits the use of toxic ingredients in various personal and beauty care products, shampoo being one of them. Asia Pacific is expected to expand at the highest CAGR of 4.2% over the forecast period. In the region, China contributed 34.8% share in 2018 majorly due to significant adoption of chemical free hair products. China is ranked as one of the largest Asian markets for natural based beauty and health care products. The market is expected to be driven by India over the forecast period. As per the recent trends, about 55% of the consumers in India prefer to purchase shampoo with organic attributes.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/organic-shampoo-market

Further key findings from the report suggest:

  • APAC is expected to witness the fastest growth over the forecast period owing to widespread availability and influx of innovative products supported by growing preference for chemical free products in India
  • North America accounted for the largest share of 34.8% in 2018, followed by Europe with 24.9% share of the global revenue
  • Some of the major players operating in the global organic shampoo market are Perse Beauty Inc.; John Master’s Organic; Vogue International LLC (OGX); Real Purity Inc.; Essential Care (Organics) Ltd.; Rahua Classics; Natulique; and Art Naturals.

Smart Bed Market Size Worth $3.1 Billion By 2027

The global smart bed market size is anticipated to reach USD 3.1 billion by 2027, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Rising prominence for gaining a healthy sleep through the infusion of sensor-based advanced technology is the growing demand for smart beds. In addition, rising penetration of smart homes across regions is also paving way for technologically integrated household products, thereby paving the way for increased growth of the market.

The rapid development of smart home technology and their penetration across developed nations of America and Europe is positively impacting the demand for the product. According to the European Commission in 2017, Europe’s smart home revenue is expected to reach USD 19.0 billion by 2021, through its massive markets in the U.K. and Germany. Additionally, useful features compiled in the product such as customized mattress firmness that can sense and react to body temperature, tracking breathing, heart rates, and restfulness is gaining consumer’s attention.

Increasing instances of sleeping disorders among individuals particularly in the U.S. is deriving higher traction in the industry. According to American Sleep Association (ASA), insomnia is the most common sleep disorder, with short term issues reported by about 30.0% of adults and chronic insomnia by 10.0% in the country as of December 2019. In addition, 37.0% of those among 20-39-year-olds, and 40.0% of those among 40-59-year-olds expressed short sleep duration. While 35.3% of adults reported less than 7 hours of sleep during a typical day. These instances have raised the need for healthy and quality duration of sleep among consumers, thereby driving product demand in various application segments including households, hospitals, and hospitality.

In terms of application, the residential segment held a dominant position in the market in 2019. Lifestyle inflation among low, middle as well as high-income individuals are paving the way for increased spending among consumers towards relaxation and comfort, thereby scaling the demand for smart beds. Also, new innovations led by manufacturers in the industry with new product launches are likely to ramp up the sales for the product. For instance, in February 2019, Eight Sleep introduced a new biometric-monitoring smart bed.

The specialty stores segment accounted for a dominating revenue-based share of 66.5% in 2019. These stores provide training to their employees to assist customers and few of them also offer price-matching guarantees. In addition, major retail chains are focusing on establishing new stores with innovative layout, which is projected to support the growth of this segment in the coming years.

North America dominated the market with a revenue share of 60.2% in 2019. Increasing penetration of home automation in the region is also boosting the demand for smart furniture such as smart beds. According to the European Commission in 2017, smart home revenue in the U.S. is expected to grow over three-fold between 2016 and 2021, exceeding USD 32.0 billion. Additionally, various sleep-related disorders prevalent in the U.S. is triggering higher demand for quality sleep patterns among individuals. According to the American Sleep Association, 50-70 million adults in the U.S. have a sleep disorder. Also, around 25.0 million adults in the U.S. have obstructive sleep apnea.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-bed-market

Further key findings from the study suggest:

  • The hospital application segment is expected to reach USD 628.4 million by 2027 and is anticipated to witness a CAGR of 5.2% from 2020 to 2027
  • The specialty stores segment was valued at USD 1.4 billion in 2019 and is expected to reach USD 2.1 billion by 2027
  • In Asia Pacific, the market is expected to witness substantial growth over the forecast period with a revenue-based CAGR of 5.6% from 2020 to 2027.

Cosmeceutical Market Size Worth $70.0 Billion By 2025

The global cosmeceutical market size is expected to reach USD 70.0 billion by 2025, expanding at a CAGR of 5.1%, according to a new report by Grand View Research, Inc. The onset of cosmeceuticals has reformed the cosmetic and personal care industry. These products, unlike the makeup products have the ability to resolve the origin of the imperfections rather than just covering them.

This quality has resulted into a tremendous rise in the demand for the product and increased its share in the cosmetic and personal care industry. Additionally, there has been a remarkable rise in the demand for organic and natural commodities due to awareness regarding harmful side effects of the synthetic elements in these cosmetic products. Manufacturers are seen taking advantage of this trend.

Furthermore, it has been observed that the demand is high among the people of age group 30-45. Over the past decades, decreasing mortality rate has given rise to the aging population all over the globe. People living longer and wanting to retain their youthful appearance is positively impacting the market growth globally. Demand for anti-aging products in order to prevent hair damage, age spots, uneven skin tone, dry skin, and wrinkles is on the rise.

The skin care category dominated the cosmeceutical market with a share of 43.3% in 2018. Exposure to harmful ultraviolet radiations can cause premature skin-aging or can even result in skin cancer. This awareness has increased consumer’s focus on protecting their skin by using preventive skincare products. Moreover, demand for multifunctional product is expected to fuel the growth of sun-care cosmetic products in the forecast period. Hair Care is also expected to witness a considerable growth owing to an increase in the demand for products such as hair oil, hair color, shampoo, and conditioner.

Europe held the largest share of 32.2% in 2018. Moreover, the major countries in this region have the largest population of people suffering from dry skin, considering their weather conditions. This is likely to spur the demand for beneficial and multifunctional skin care cosmetic products. Asia Pacific is expected to witness the highest growth among other regions. The market in this region is gaining traction due to widely expanding developing economies.

Key players having a presence in the global market include Johnson & Johnson, Procter & Gamble, Sabinsa Corporation, L’Oréal, Allergan, AVON, Estee Lauder, Unilever, Beiersdorf, and Croda International Plc.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cosmeceutical-market

Further key findings from the study suggest:

  • By product type, the skin care category held the largest share of 43.3% over the forecast period
  • By distribution channel, the supermarkets and specialty stores segment is expected to generate a revenue of USD 54.0 billion by 2025
  • Europe dominated the global cosmeceutical market in 2018 and accounted for 32.2% share of the overall revenue. This trend is projected to continue over the next few years
  • Asia Pacific is expected to expand at a CAGR of 5.4% over the forecast period
  • Various manufacturers are concentrating on new product launches, capacity expansion, and product portfolio extension to estimate existing and future demand patterns from upcoming application segments.

Smart Shoes Market Worth $548.93 Million By 2025

The global smart shoes market size is expected to reach USD 548.93 million by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 20.2% during the forecast period. Rising focus on adopting a fit and healthy lifestyle is anticipated to drive the growth. Factors such as rising consumer awareness regarding availability of various fitness tracking gadgets and rapid technological advancements are expected to further fuel the product demand.

Smart shoes offer support in the form of individual disease monitoring, and monitoring of mobility and gait. Rising preference for real-time fitness tracking process has paved the market for technology-integrated footwear over traditional shoes which has resulted in increasing traction for the smart shoes market. These smart shoes can provide real-time biometric data and calculate the distance travelled and burned calories with the help of embedded sensors and Bluetooth operated insoles, which help consumers track their achievements.

Increasing number of users are opting for walking and running as a part of their fitness regime. In 2017, about 60 million people in U.S. participated in running, jogging, and trail running, while around 100 million people opted for walking as a form of exercise. Rising adoption of athleisure and fitness as a way of life is expected to drive the demand for smart textiles and wearables including smart shoes. Rising inclination toward sneakers in footwear industry owing to the popularity of the sporty look is anticipated to fuel the adoption of smart sneakers. Manufacturers focus on new product development to introduce smart technology in traditional shoes. For example, Under Armour, Inc. introduced its latest smart shoe HOVR Sonic2, display features such as step tracking, distance covered and instant health stats and smartphone connectivity.

Female end user segment of the market is expected to witness the fastest CAGR of 20.5% from 2019 to 2025 owing to the rising sports culture and consumer awareness coupled with increased female participation in various sporting events. For instance, Olympic Games, International Women’s Cricket, and Grand Slam Tournaments are witnessing increased female participation, which is expected to positively influence the demand for smart shoes.

Based on distribution channel, specialty stores held the largest market share of 64.1% in 2018, owing to easy availability and wide distribution network of these stores. Rising number of footwear stores in developing countries owing to increasing preference for new and smart wearables has added to the demand for these stores in countries such as Brazil, India, and China. Mass brands such as Nike Inc.; Under Armour, Inc.; Adidas AG; and Xiaomi among others have multiple outlets featuring shoes and other sports accessories across different parts of the world.

Asia Pacific is expected to expand at the fastest CAGR of 21.3% from 2019 to 2025. Rising number of sports tournaments in the region is projected to drive the consumer awareness regarding different sports as well as the importance of fitness, which in turn is anticipated to fuel the regional product demand in the forthcoming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/smart-shoes-market

Further key findings from the report suggest:

  • In terms of revenue, North America held the largest market share of around 39% in 2018
  • Male end user segment held the largest market share of over 50% in 2018 and is anticipated to continue leading over the forecast period
  • Online distribution channel segment is projected to expand at a CAGR of 20.6% during the forecast period
  • The smart shoes market is highly competitive in nature with the presence of key players including Nike Inc.; Adidas AG; Under Armour Inc.; Digitsole; Puma SE; Salted Venture; TRAQshoe; Vivobarefoot; Xiaomi Corporation Limited; and ShiftWear

Tea Market Size Worth $18.42 Billion By 2025

The global tea market size is expected to reach USD 18.42 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 5.5% during the forecast period. Rising popularity of carbonated drinks coupled with rise in consumer disposable income, especially in emerging economies such as India, China, and Brazil will create robust product demand.

Tea, being a widely consumed beverage especially across Asia Pacific (APAC) and Middle East and Africa (MEA). It has gained immense popularity in other parts of the world as well, owing to its antioxidant properties. Presence of polyphenols, antioxidants, vitamins, and a variety of amino acids make it help strengthen the immune system. Additionally, it helps lower cholesterol levels, increase metabolism, and may help prevent cancer. It also contains a small amount of caffeine, which boosts its consumption as a mild stimulant.

Changing demographics, rise in disposable income of middle class population, especially in urban areas is anticipated to drive the product consumption and in turn drive the market. Millennials are anticipated to register the strongest growth, especially in countries such as China, Japan, Brazil, and India. Rising awareness regarding the benefits of drinking tea coupled with willingness to shell out money on the product is anticipated to bode well for the demand. Hence, to leverage this trend, a number of manufacturers are repositioning the product like a lifestyle brand to reach more consumers. They engage in social media campaigns and celebrity advertising to promote their new and premium flavors.

In 2018, black tea held the largest market share of about 39%. The product is predominantly produced and consumed in countries like India, China, Sri Lanka, and Kenya. Green tea is also anticipated to hold a significant market share over the forecast period. The product is a natural and organic detoxifying agent and hence, along with food and beverage, it also finds application in skin care and wellness products. It that has therapeutic properties to cure scars, helps manage weight, and to improves skin texture.

Oolong is a premium-quality product that apart from being used as a weight loss remedy, has innate properties to help prevent type 2 diabetes. Herbal tea includes hibiscus, tulsi, jasmine, and chamomile among numerous other flavors. These products are popular among consumers from European countries such as Germany and U.K. Typhoo, the British packaged tea brand currently owned by Kolkata, India-based, Apeejay Surrendra Group, which manufactures non-tea infusions, including organic herbal mixes due to declining black tea market, especially in the European countries.

Hypermarkets and supermarkets distribution channel segment held the market share of more than 38% in 2018, while convenience stores held the market share of around 32% in the same year. Specialty stores, such as Fabindia and Teafloor provide consumers with premium and exquisite brands and flavors. On the other hand, online channel is expected to expand at the fastest CAGR of 5.9% over the forecast period due to ease of payment methods and availability of a wide variety of products.

Most companies operating in the market engage in product innovation and R&D. They also focus on innovative advertising and social media campaigns to attract more target consumers. Tata Global Beverages entered into Ready-to-Drink segment with the introduction of green tea based drink, led by Tata Tea in India and Tetley in Canada.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/tea-market

Further key findings from the report suggest:

  • Asia Pacific is projected to generate a revenue of USD 6.33 billion by 2025
  • Green tea constituted about 30.54% of the total market share in 2018 and is projected to exhibit a significant rise in the next few years
  • MEA is anticipated to lead the global tea market with the fastest CAGR of 7.3% over the forecast period
  • The market is highly competitive in nature with the main players including Tata Global Beverages; Unilever; Associated British Foods Plc.; TAETEA; Nestlé S.A.; Barry’s Tea; Apeejay Surrendra Group; Bettys & Taylors Group Ltd.; McLeod Russel; and ITO EN Inc.; Mighty Leaf Tea Company; Numi Organic Tea; The Republic of Tea; Tazo Tea Company; Teavana; Celestial Seasonings, Inc.; Fukujuen; Harney and Sons; Kazi Tea; M. M. Ispahani Limited; DavidsTea; Tim Hortons; and Godrej Group

Artisanal Ice Cream Market Worth $9.5 Billion By 2025

The global artisanal ice cream market size is expected to reach USD 9.5 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.9% over the forecast period. Increasing desert consumption and rising adoption of natural and organic sweet dishes are projected to remain prominent trends in the market.

Growing lactose intolerant population is contributing to the increased demand for artisanal ice cream. Therefore, lactose-free ice cream allows user to enjoy these products without any intolerance or allergies. Moreover, the focal point lies on aesthetics and flavors. Therefore, companies often use pestle colors for packaging that expresses flavor and creates an appetite. For instance, in 2017, Van Leeuwen witnessed a 50% increase in its sale post its product redesigning and packaging.

Furthermore, key players in the market focus on innovative flavors as their new product development strategy. These innovative yet healthy defined flavors are introduced to gain wider acceptance of consumers. For instance, in May 2018, Taj West End introduced aam-panna ice cream flavor in the IPL catering for cricket players and VIPs.

Moreover, The Oberoi (Bangalore) serves South-Indian flavor ice cream to the city dwellers consisting of coffee, jaggery, and jamun with activated charcoal. In addition, in January 2019, Eden Creamery LLC., manufacturer of low-calorie ice cream brand Halo Top, has expanded their product line to non-dairy ice cream. The brand exhibits flavors such as peanut butter, chocolate hazelnut, and mint fudge cookie. The product is manufactured with coconut milk and contains less calories and more proteins.

Hypermarket and supermarket is anticipated to witness the highest growth in the coming years on account of the availability of a wide variety of products and convenience factor. Prominent brand of ice creams are easily located on the shelves of supermarket as well as hypermarket.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/artisanal-ice-cream-market

Further key findings from the report suggest:

  • By distribution channel, specialty stores dominated the global market with a share of 35.9% in 2018. Hypermarket and supermarket is projected to ascend at a CAGR of 7.4% from 2019 to 2025
  • North America dominated the global artisanal ice cream market in 2018, accounting for 41.4% share
  • Asia Pacific is expected to expand at the fastest CAGR of 8.1% from 2019 to 2025 owing to increasing consumption of premium ice cream in countries such as India and China
  • The industry is highly competitive in nature with the main players including Unilever, Nye’s Cream Sandwiches, Van Leeuwan, Nestlé, BI-RITE FAMILY OF BUSINESSES, Carmel, Ice Cream, and Toscanini’s.

Hiking Gear & Equipment Market Size Worth $7.4 Billion By 2027

The global hiking gear and equipment market size is expected to reach USD 7.4 billion by 2027, expanding at a CAGR 6.3%, according to a new report by Grand View Research, Inc. Several factors including increasing active travelers combined with rise in adventure tourism is boosting the trend towards hiking sports which is driving the penetration of hiking gear and equipment. In addition, the industry is expected to flourish owing to increasing prominence of outdoor sports activities as a result of rising emphasis on healthy living.

Increasing number of millennials is resulting in rising prominence of various adventure sports activities which is causing growth in the market. According to the U.S. Census Bureau, youngest millennial is expected to reach its adulthood by 2020, thereby accounting for 28% of the U.S. population as well as 50% of the working population in the country. . Moreover, rising acceptance of various adventure sports as a measure to gain different experiences is holding greater attraction of consumers towards hiking. According to findings of a survey conducted by the Adventure Travel Trade Association in 2016, hiking was ranked as the most popular adventure activity, with 92.3% of the people surveyed had done the activity in U.S. thus, rising trends in the outdoor recreation and sports industry is fueling the market for hiking gear and equipment across regions.

Hiking clothes witnessed the highest penetration in the market on account of being an integral part of the sporting essential. Latest trends suggesting urban hiker style is in vogue is also complementing the product sales. Rising prominence towards sustainability have led to introduction of new fabric and insulation technology which is also addressing animal welfare as well as environmental standards. Moreover, gaining prominence of women in outdoor clothing segment owing to rising participation of women hikers is also fueling the market demand for hiking apparel.

Online channel of distribution witnessed the highest growth in the market owing to rising internet penetration across developing countries such as China, India, and Brazil which is helping develop online sales for the growing outdoor recreation and hiking products including gear and equipment. Increasing penetration of companies using online retail channels such as Moosejaw, Backcountry.com, and Eastern Mountain Sports is paving the way for increased demand of hiking gear and equipment.

North America led the hiking gear and equipment market in 2019. Increased number of consumers seeking places for outdoor recreation in order to connect to nature as well as to practice healthy exercises is driving the market in this region. Increasing construction of hiking trails in U.S. is rising the number of hikers in the region, thereby propelling the growth of the market. According to report by the Outdoor Foundation, hiking is the fourth most popular outdoor activity in U.S., witnessing 44.9 million participants in 2018.

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https://www.grandviewresearch.com/industry-analysis/hiking-gear-equipment-market

Further key findings from the report suggest:

  • In terms of revenue, the equipment segment is projected to witness a CAGR of 7.0% over the forecast years
  • Specialty store distribution channel dominated the market with an overall revenue share of over 46.1% in 2019
  • North America dominated the hiking gear and equipment market in 2019 and constituted for 63.2% of the revenue share. This trend is projected to continue over the next few years
  • The industry is highly competitive in nature with key players including The North Face, Mountain Hardwear, Black Diamond Equipment, Ltd., Marmot Mountain LLC, Amer Sports, Equinox Ltd., TATONKA, mont-bell Co.,Ltd., AMG-Group, and Sierra Designs.