Market Research Blog

The global air freshener market  is advancing at a sluggish rate and is estimated to register a CAGR of 3.5% during the forecast period 2022 to 2032.

The Air Freshener Market will provide in-depth analysis of both established and new market trends, as well as significant industry developments. In-depth information about market size, revenue growth, drivers, restraints, growth opportunities, and challenges is provided in the report.

Additionally, the report offers details on various segments, including top companies, product types, applications, and regional division. The report is well-presented using a variety of pictorial presentations, including tables, diagrams, charts, and figures. It is curated using primary and secondary research that has been carefully reviewed by industry experts.

The global Air Freshener Market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period.

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Robust revenue growth is attributed to factors such as changing lifestyle, improvements in standard of living and rising health conscious populace.

Increasing demand for convenience, and going coronavirus pandemic, rising presence for online shopping, and increasing inclination towards veganism and organic and basic food products are fueling global market growth.

Competitive Landscape:

The research study provides information about top market participants, including each one’s global position, financial standing, licence agreement, product and service portfolio, and revenue contribution.

To expand their product offerings and establish solid footing in the market, major market players are concentrating on implementing a variety of strategies, such as mergers and acquisitions, business expansion plans, new product launches, partnerships, collaborations, and joint ventures.

Market Dynamics:

Increasing consumer inclination towards functional, organic and probiotic-based food & drinks is providing impetus to the growth of global food and beverage industry.

Various studies have come with health benefits associated with “ethnic” and organic food products. These foods improve cardiovascular health, improves arthritis, digestive issues, and other inflammatory conditions. Consumers are gradually focusing on mindful eating and consuming food for health and wellness.

Changing eating and dietary patterns of consumers is prompting brand owners and new entrants to introduce healthy foods options. Several clean-label products have been introduced in the market and consumer curiosity for new products is immense

Growing middle class consumers with rising income in developing countries such as India and China will boost food & beverage market growth. Moreover, increasing consumer preference for procuring food and beverage items from online platforms due to variety, cost and time-saving will foster market size through 2027.

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Some of the leading market players are listed below:

• Procter & Gamble Co.
• Reckitt Benckiser Inc.
• Henkel KGaA
• Church & Dwight Co. Inc.
• Car-Freshener Corporation
• SC Johnson & Son Inc.
• Kobayashi Pharmaceutical Co. Ltd.
• Godrej Household Products Ltd.
• Farcent Enterprise Co. Ltd
• Newell Brands

Air Freshener Market Segmentation based on Types:

• Sprays/Aerosols
• Electric Air Fresheners
• Gels
• Candles
• Others

Air Freshener Market Segmentation based on Application:

• Homes
• Offices
• Cars
• Others

Air Freshener Market Segmentation based on Regions:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)

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Key Features of the global Air Freshener Market:

• The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
• The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
• Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
• Optimum strategic initiatives for new players in the market.
• Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
• The study also includes supply chain trends, including elaborate descriptions of the latest technological development

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The microwave market is estimated  to reach US$ 8 Bn in 2022. Sales of microwaves are expected to increase at a steady 4% CAGR, pushing the market size to US$ 11.84 Bn by 2032.

Nuclear families are increasing, which has resulted in a rise in the number of people living in cities. The demand for microwaves is expected to be driven by hectic schedules of consumers, along with increasing sales of frozen foods.

In addition to this, expansion in the hospitality and foodservice sectors across the globe will augment sales of microwaves. Increasing contracts for catering events are also anticipated to spur demand for microwaves in the commercial sector.

Newmarket opportunities are likely to arise from the growing popularity of connected household appliances, such as the inverter-based microwave. The ongoing trend of smart household appliances will create opportunities for growth for microwave manufacturers over the forecast period.

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Key Takeaways:

• Based on structure, sales of countertop microwaves will increase at a 3.3% CAGR over the forecast period.
• In terms of applications, demand for microwaves in the commercial sector will grow at a 4.1% CAGR through 2032.
• By sales channel, the online segment will hold a dominant share in the market over the assessment period.
• Sales of microwaves in the U.S. will rise at a 1.1% CAGR over the forecast period.
• China will emerge as a lucrative pocket, with sales growing at a 10.2% CAGR through 2032.
• Demand for microwaves in India will increase at a 8% CAGR over the forecast period.

Competition Landscape

Aggressive promotional techniques, marketing, and new product launches are some of the key strategies being adopted by the leading microwave manufacturers.

Some of the key players in the global microwave market include Galanz Enterprise Group, Whirlpool Corporation, Hoover Limited, LG Electronics, AB Electrolux, Sharp Corporation, Illinois Tool works INC, Alto-Shaam INC, Panasonic Corporation, Haier group corporation, and Robert Bosch.

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Global Microwave Market by Category

By Product Type:

• Convection
• Grill
• Solo

By Application:

• Household
• Commercial

By Structure:

• Built-In
• Countertop

By Sales Channel:

• Hypermarkets/ Supermarkets
• Wholesalers/Distributors
• Specialty Stores
• Multibrand Stores
• Online Retailers
• Other Sales Channel

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceani
• MEA

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global cooker hoods market is anticipated to grow at a 3.6% CAGR, with sales expected to reach US$ 12.1 Bn in 2022. In light of this, the global market for cooker hoods will grow to US$ 17.15 billion by 2032. Cooker hood sales account for 5–10% of the global market for home appliances.

In Europe, U.K is expected to account for a dominant share in the market owing to rapid development of more innovative, energy efficient, and technologically advanced household appliances.

Another factor which is driving the market is the presence of leading market players in the country. With technological advancements, small and medium companies are making progress via new contracts and collaborations with technology-based startups, which, in turn, is driving sales of cooker hoods.

“The introduction of ductless cooking hoods, along with rising demand for smart kitchen appliances across the globe will augment the growth in the market in the forthcoming years,” says an FMI analyst.

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Key Takeaways:

• Based on product type, sales of integrated cooker hoods will remain high.
• By applications, demand for cooker hoods in the residential segment will gain traction.
• In terms of sales channel, the exclusive stores segment will expand at a considerable pace over the assessment period.
• The U.K. will continue dominating the Europe cooker hoods market over the forecast period amid high demand for smart kitchen appliances.
• India will emerge as a lucrative pocket owing to the expansion of the foodservice sector in the country.

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Competition Landscape

Appliances are being integrated with Internet of Things (IoT) platforms by market players. Apps for mobile and desktop devices allow smart kitchen equipment to work remotely and wirelessly,in real-time. Mergers and acquisitions, as well as product development and innovation, are among the strategies adopted by key players to gain a competitive edge.

Adding new features and functionality is a major concern for companies. Major players present in the Cooker Hoods market are Bosch, Miele, Siemens, Elica hoods, Midea, Luxair Cooker Hoods Limited, Inflame Appliances Ltd, Eico A/S, Westin, Candy Hoover Group S.r.l, Falmec Kitchen Appliance Limited and Hafele Appliances among others.

Table of Content
1. Executive Summary

    1.1. Global Market Outlook

    1.2. Summary of Key Statistics

    1.3. Summary of Key Findings

    1.4. Product Evolution Analysis

    1.5. FMI Analysis and Recommendations

2. Market Overview

    2.1. Market Taxonomy

    2.2. Market Definition

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Key Product Development Trends

        3.2.1. Product Launches

        3.2.2. Acquisition & Mergers

        3.2.3. Expansion

4. Global Cooker Hoods Market Demand Analysis 2017-2021 and Forecast, 2022-2032

    4.1. Historical Market Volume (‘000 Units) Analysis, 2017-2021

    4.2. Current and Future Market Volume (‘000 Units) Projections, 2022-2032

    4.3. Y-o-Y Growth Trend Analysis

Toc Continued…..

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global freestanding large cooking appliances market is anticipated to reach US$ 29,700.4 Mn by 2032, at a CAGR of 4.3% from 2022 to 2032, from an estimated US$ 19,494.8 Mn in 2022. In the market for kitchen appliances, the demand share for freestanding large cooking appliances is between 15% and 20%.

Electronic capabilities have enabled modern kitchen appliances to grow smarter. Modular kitchens are becoming increasingly popular due to the efficiency of integrated appliances. Makers are constantly allowing for more integrated fixtures, making them more accessible to the general public.

Modern retail forms such as malls, supermarkets, and megastores are becoming increasingly popular. As a result, makers of standalone kitchen appliances are profiting on this trend and cooperating with these end users.

Also, several manufacturers in this industry are developing cutting-edge appliances and services for the kitchen. Innovations in technology, such as the development of attractive, complex kitchen equipment that can be controlled via an app, are accelerating the demand in the market. As an increasing number of individuals are concerned about their personal health, the market for tranquil and clean kitchen appliances is increasing rapidly.

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Key Takeaways from the Freestanding Large Cooking Appliances Market Study

• By sales channel, online retailers segment is projected to gain traction over the assessment period
• India is expected to dominate the South Asia freestanding large cooking appliances market though 2032
• The U.S. is expected to account for significant share in the global freestanding large cooking appliances market
• In terms of product type, the freestanding hobs segment will witness highest growth over the forecast period
• Based on application, the commercial segment will grow at a fastest rate through 2022 & beyond

Who is winning?

Energy-efficient goods are being developed by market participants by examining new raw material and production options, as well as novel thermal element designs. Some of the biggest companies on the market are always updating their product line with the most cutting-edge and cutting-edge technology. A significant portion of their R&D budgets is going into developing new products that take use of cutting-edge technology like artificial intelligence (AI) and the internet of things (IoT).

Major players present in the freestanding large cooking appliances market are Samsung Electronics Co. Ltd; Morphy Richards; LG Electronics Inc.; Whirlpool Corporation; Hitachi Appliances Inc.; Koninklijke Philips N.V.; AB Electrolux; Haier Group Corporation; GE Appliances; and Robert Bosch GmbH.

Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global freestanding large cooking appliances market, presenting historical demand data (2015-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the freestanding large cooking appliances market based on the product type (Freestanding hobs, Freestanding Ovens, others), application (residential and commercial), sales channel (hypermarkets/ supermarkets, convenience stores, online markets and others) across seven major regions.

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Freestanding Large Cooking Appliances Market by Category

Product Type:

• Freestanding Hobs
• Freestanding Ovens
• Others

By Application:

• Residential
• Commercial

Sales Channel:

• Wholesalers/Distributors
• Multi-Brand Stores
• Specialty Stores
• Hypermarket/Supermarkets
• Online Retailers
• Other Sales Channel

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA)

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The pre-shave care market is anticipated to reach US$ 7.9 billion valuation in 2022 , g will increase at a 5.3% CAGR, pushing the market size to US$ 13.4 Bn by 2032. Share of pre-shave care market is approximately 45-48% in the global shaving care market.

Increasing demand for men’s grooming products is expected to create opportunities for growth in the pre-shave care market. Manufacturers are investing in advertising techniques, along with research and development to cater to the growing demand.

Men’s grooming routines among all age group have become more elaborate over the years, resulting in the development of numerous male grooming products, including pre-shave care products.

Further, consumers are getting more inclined towards getting pedicures, facials, and aromatherapy. Sales of men pre-shave care products are expected to grow significantly, owing to rising urbanisation and a growing tendency toward individualism.

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In addition to this, increasing popularity of websites that sell men’s health and fitness products, as well as the rising number of magazines focused on men’s grooming and lifestyle, are contributing to the growth in the market.

Key Takeaways:

• Based on product type, sales of pre-shave foam are projected to grow at a 5.6% CAGR over forecast period.
• By nature, demand in the natural segment will increase at a 7.9% CAGR over the forecast period.
• In terms of price range, the mid-range segment will account for 55.6% of the total market share in 2022.
• Based on sales channel, sales in the online segment will grow at a 8.3% CAGR through 2032.
• The U.S. pre-shave care market accounted for 87.9% of the North America market share in 2021.
• Germany held over 25.7% of the Europe pre-shave care market in 2021, and the trend is expected to continue over the forecast period.
• In 2021, India accounted for 37.7% of the South Asia pre-shave care in 2021, emerging as a lucrative pocket in the region.

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Competition Landscape

Leading manufacturers of pre-shave care products are focusing on aggressive promotional strategies, advertisements, and new product launches to improve sales in the market.

Major players present in the pre-shave care market are Claus Porto, Edgewell Personal Care Company, L’Oreal SA, Kiehl, Johnson & Johnson, Bold For Men, Energizer Holdings, Inc., Malhotra Shaving Products Ltd, Acqua DI Parma, Beiersdorf AG, Godrej Group and Siemens Healthcare among others..

Global Pre-Shave Care Market by Category

By Product Type:

• Pre-Shave Foam
• Pre-Shave Cream
• Pre-Shave Gel
• Pre-Shave Soap
• Other Pre-Shave Products

By Nature Type:

• Natural/Organic
• Conventional

By Consumer Orientation:

• Men
• Women

By Price Range:

• Low
• Medium
• Premium

By Sales Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Multi-Brand Stores
• Salon/Grooming Clubs
• Drug Stores & Pharmacies
• Online Retailers
• Other Sales Channel

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The plus size clothing market to register a CAGR of 5.7% during the forecast period. The plus size clothing market is valued at US$ 601.7 Bn in 2022 and is projected to reach US$ 1,044.3 Bn by 2032.

The COVID-19 epidemic had a negative impact on the market share for plus-size clothing. The sales of plus size apparel have fallen as a result of a lack of labour, production issues like fabric shortages and order cancellations, lower exports, and a decline in consumer spending on non-essential items.

Sales of plus size clothing are anticipated to increase at the quickest rate during the duration of the prediction. The need for products that give the same level of luxury as customers in other sizes will increase the market for plus-size clothes between 2022 and 2032.

In response to the rising demand for plus size clothing, retailers are focusing on launching plus size apparel. In order to attract more customers, Walmart launched a new plus-size brand named Terra and Sky in 2018. High street plus size apparel retailers such as River Island, Marks & Spencer, and New Look offer a wide range of plus size items to suit demand.

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This move by the multinational companies is anticipated to boost the sales of plus size clothing and plus size clothing market revenue growth in the forecast period.

The market share for plus-size clothes is increasing as obesity and overweight problems become more prevalent. Additionally, the desire for plus size apparel that represents the most recent fashion trends rises as plus-size clients’ confidence in their bodies increases.

Strong fashion marketing and promotional efforts, especially on the covers of magazines like Vogue, Cosmopolitan, Elle, and Glamour, have increased plus-size women’s self-confidence and body acceptance, which has improved plus size clothing sales.

The market for plus size apparel has also been boosted by a number of factors, including celebrity endorsements and a positive public impression of persons who are plus sizes.

KEY TAKEAWAYS:

• The male category is expected to lead the plus size clothing market in terms of customer orientation.
• The casual wear category dominated the plus size clothing market, with a CAGR of 4.8 percent, due to increased acceptance and acceptability of casual wear among consumers for social occasions.
• During the forecast period, the mid-priced plus-size clothing segment is expected to dominate the plus size clothing market.
• With the greatest obese population and the most money spent on plus size clothing, the United States leads the market.
• The Asia-Pacific region is forecast to grow at the highest rate, resulting in rising obesity rates among individuals in the next years.
• Europe is expected to develop rapidly in the global plus size clothing industry from 2022 to 2032.

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COMPETITIVE LANDSCAPE:

Key companies profiled in the plus size clothing market report include Forever21 Inc., MANGO, H&M Hennes & Mauritz AB, Hanesbrands Inc., FTF IP COMPANY, INC., Lucky Brand LLC, Under Armour®, Inc., NIKE, INC., ASOS plc, RALPH LAUREN CORPORATION, and WHP Global (Anne Klein).

There is tremendous manufacturer competition in the plus size clothing market. New product introductions, assisted by advertisements and promotional events organised by major manufacturers and designers, are driving the growth of the plus size clothing market.

RECENT DEVELOPMENT:

Partnerships, Product Launches, Collaborations, and Agreements:

• Customers were thrilled when LOFT, a business that creates contemporary women’s clothing, announced the addition of a plus-size category to its catalogue in 2018.
• PVH bought True & Co., an online start-up, in 2017 to expand their plus-size innerwear product line.
• The name “Evans Outsize” has been changed to “Evans.” In 2018, Marks and Spencer replaced the phrase “plus size” with “curve” to appeal to customers.

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Key Segments

By Product Type:

• Casual Wear
• Formal Wear
• Sportswear
• Others

By Consumer Orientation:

• Male
• Female

By Size Type:

• 1 XL
• 2 XL
• 3 XL
• 4 XL
• Above 4 XL

By Price Range:

• Economy
• Mid-Range
• Premium

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global gym apparel market is anticipated to expand between 2022 and 2032 at a moderate CAGR of 6.2%. By the end of 2032, the global market for gym apparel is expected to be worth about US$ 384.8 billion, up from a net worth of US$ 204.5 billion in 2021.

The global market assessment on gym gear goods reported that during the first few months of the Covid-19 pandemic, gym apparel sales significantly decreased. Having said that, this new market research analysis on gym apparel data explains some of the positive effects of Covid-19, which were crucial in driving up demand for gym clothing in the years that followed.

Many people were urged to start their own personal gyms or join ones in their communities in response to the lockdown’s increasing length. Very soon after the Covid-19 pandemic outbreak, there was a significant increase in the number of people going to the gym every day, which fueled the expansion of the gym clothing business.

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Gym gear producers are introducing new innovative components into their products to meet the current demands of the burgeoning smart wear trend.

Furthermore, several technological advancements aimed at boosting user performance and comfort are projected to help the gym gear business. One of the biggest breakthroughs for the rising trends in the gym gear market is the introduction of smart nanotechnology fabric.

Key Takeaways

• The present value of the global gym apparel market is estimated to be around US$ 210.8 Billion in the year 2022.
• The net worth of the global gym apparel market is expected to witness an absolute increment of US$ 174 Billion over the forecast period of 2022 to 2032 that may take the net worth up to US$ 384.8 Billion by the end of 2032.
• Sweatshirts and tanks are the most popular product type segment of the gym apparel market share that is expected to witness the highest the growth rate of nearly 4% during the forecast period.
• Online retailers or e-commerce platforms are the rapidly expanding segments for the global gym apparel market future trends on the basis of the supply chain.

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Leading Companies Profiled in Gym Apparel Market are

• Adidas AG
• ASICS Corp
• Columbia Sportswear
• Dick’s Sporting Goods Inc.
• G-III Apparel Group Ltd.
• Gildan Activewear Inc.
• Hanesbrands Inc.
• Nike Inc.
• PUMA SE
• PVH Corp
• VF Corp
• New Balance

Key Segments

By Product Type:

• Shirts
• Pants
• Shorts
• Sweatshirts
• Hoodies
• Tank-top
• Others

By Material Type:

• Nylon
• Wool
• Polyester
• Others

By Consumer Orientation:

• Men
• Women
• Unisex

By Sales Channel:

• Direct Sales
• Franchised Stores
• Specialty Stores
• Online Retailers
• Mono Brand Stores
• Wholesalers or Retailers
• Other Sales Channel

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The global massage guns market estimated valuation for 2022 is US$ 509.0 Mn. The report projects that by 2032, the market for massagers will be worth US$1 billion, growing at a 7.4% CAGR.

More people are favouring massage chairs with quick recovery times. Manufacturers of massage guns are embracing consumer-centric strategies to boost their sales and brand recognition.

Because they are portable and simple to use, massage guns are popular among athletes. Ideally, only a few factors play a role in consumers’ choice of purchases. Brand identity has a big influence on a lot of them. Not all of them, though, exhibit brand loyalty.

In order to strengthen their presence across various channels and develop a strong brand portfolio, businesses must act immediately. The functionality follows.

For instance, in the case of massage gun, consumers often judge them on the basis of their efficiency. Therefore, products with higher wattage are likely to enjoy better goodwill which will be drawn by higher convenience and efficiency.

Consumers are increasingly adopting e-commerce platforms to purchase electronic items including massage gun, as they can avail special discounts and prices on a wide range of products.

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In addition to this, e-commerce websites also help make the products as per the specific requirements of the customer, even if the product is not available in the market in a particular region. Leading e-commerce sites, including Alibaba and Amazon, are offering an extensive range of products from around the world.

Factors such as easy product accessibility, convenience, and ease of shopping irrespective of geographic presence will continue pushing sales of massage guns through online channels over the forecast period.

“Increasing preference for portable massage guns among sports personnel and athletes is expected to drive sales in the market. Besides this, growing popularity of smart massage gins with temperature and vibration control is anticipated to augment the growth in the market,” says an FMI analyst.

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Key Takeaways:

• · Based on size, mid-size/handheld massage guns are predicted to account for a dominant share of the market through 2032.
• · In terms of battery type, demand for rechargeable guns is projected to increase at a 7.7% CAGR through 2032.
• · By sales channel, the indirect sales segment is anticipated to hold 83.8% of the total market share.
• · In terms of end user, demand for massage guns likely to escalate among athletes at a 8.8% CAGR over the assessment period.
• · U.S. will emerge as a lucrative pocket in North America massage guns market. Sales in the North America market are slated to increase at a 3.6% CAGR.
• · Surging demand for rechargeable massage guns in the U.K. will place it as an attractive market, leading the Europe massage guns market.

Who is winning?

Leading manufacturers of massage guns are focusing on smart promotional strategies, advertisements, and new product launches to improve sales in the market.

Major players present in the Massage Guns market are Therabody, LifePro, Hyperice Inc.,Renpho, Everyfun, HydraGun, Muscle Gun, Massage Guns Ireland, Recovapro, Essential Massage & Therapy Co.,Achedaway, Medcursor and Others.

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Global Massage Guns Market By Category

By Purpose:

• Small Size/handheld
• Mid-Size/Professional
• Large Size/Powerful

By Battery:

• Rechargeable
• Replaceable

By Sales Channel:

• Direct Sales
• Indirect Sales

By End User:

• Athletes
• Chiropractor
• Fitness Enthusiasts
• Expectant Women
• Others

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The India Loyalty program market  is expected  to top nearly US$ 2,922.9 Mn in 2022 and is projected to reach US$ 10,852.6 Mn by 2031 at a CAGR of ~15% from 2022 to 2031. The India loyalty program market holds approximately 4%-8% in the global loyalty program market.

Several retailers and businesses use loyalty programmes as one of their marketing methods to draw in and keep their channel partners and customers. They provide customers with additional benefits and encourage them to spend more money through these initiatives.

Rewards, points, discounts, and other unique incentives are provided by loyalty programmes in an effort to boost sales and foster client loyalty. This aids businesses in building a solid base of loyal customers.

The market for loyalty programmes is a subset of the market for loyalty management, which also includes software and services (professional services and managed services). These variables led to an 18% growth rate in the Indian loyalty programme market over the course of the historical period (2016-2021).

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What are the Factors Driving Demand in India Loyalty Program Market?

Loyalty programs play a crucial role in reducing overall operational costs. Organizations are focusing more on escalating repeat purchases instead of investing more in marketing activities to acquire a new consumer base.

Hence, organizations are more focused on maintaining the repeat purchase rate instead of investing more in marketing activities to acquire new channel partners. The organizations are currently focused on strengthening their repeat purchase rate.

Thus strengthening the repeat purchase rate is one of the prominent factor driving enterprises to switch towards loyalty programs.

How will Adoption of AI to Offer Personalized Rewards to Channel Partners Benefit Market?

Industry experts today largely believe that many of the industry sectors are steadily marching towards personalization. In the past few years, adoption of AI (artificial intelligence) to create a more personalized experience is gaining popularity.

Creating user profiles has helped the players gain information to personalize incentives that are likely to be considered more effective than generalised incentives. Another way of using AI (artificial intelligence) is to incentivize the channel partners by logging in their purchase records. This feature can help the organization to completely analyse the purchase behaviour of channel partners in detail at different levels or tiers.

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Category-wise Insights

Which Program Type Will Dominate the India Loyalty Program Market?

“Combination of Point-Based and Pre-Decided Loyalty Program to be the Most Preferred”

In terms of program type, combination of point-based and pre-decided loyalty programs account for a notable share of 64.8% in India loyalty program market. However, point-based loyalty programs held a significant share in 2020 as points are easy to earn and easy to redeem. Channels can redeem points for credit toward their next purchase, discounted services, or giveaways.

Which Consumer Orientation Will Remain Highly Sought-After in India Loyalty Program Market?

“Need for Sales Incentives to Boost the India Loyalty Program Market”

In terms of consumer orientation, sales incentives segment is expected to dominate the market owing to increase in profits, improves sales success and allows sustainable growth. A well-designed and well-executed loyalty program helps in retaining existing customers, attract new customers, reduce turnover and drive profits. However, employee rewards and channel incentives will account for significant market share of 17.7%, and 10.2%, respectively.

Which is the Leading End User in India Loyalty Program Market?

In terms of end-user, large enterprises segment will account for a notable share in the India loyalty program market. However, a significant share of B2B small and medium enterprises segment witness steady growth over the forecast period, estimates Future Market Insights (FMI).

Based on vertical, others segment including aviation, hospitality, BFSI, healthcare, education and IT & telecom is expected to hold lion’s share in the market.

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Competitive Landscape

Prominent players in the India loyalty program industry are adopting various strategies to survive high level competition. Meanwhile, other players in the market are adopting strategies such as mergers and product launches to gain competitive edge in the industry.

India Loyalty Program Market by Category

By Program Type:

• Point-Based Loyalty Program
• Pre-Decided Loyalty Programs
• Combination of Point-Based and Pre Decided Loyalty Programs

By End User:

• Small& Medium Enterprises
• Large Enterprises

By Consumer Orientation:

• Employee Rewards
• Sales Incentives
• Channel Incentives

By Vertical:

• Automobiles
• Cement
• Electronics & Electricals
• Laptops
• Luxury Brands
• Mobile Phones
• Paints
• Tyres
• Watches
• Others

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:                    

Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
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