Laundry Care Market is expected to grow at a CAGR of Approximately Over 2022-2031

As per Future Market Insights (FMI), the global laundry care market is estimated to reach a valuation of US$ 25 Bn – US$ 35 Bn in 2021. The market is poised to register growth at 5% CAGR through 2021-2031.

Growing preference for liquid detergents because they clean delicate fabrics better without damaging them and offer enhanced compatibility with washing machines is expected to increase the sales.

Some of the top laundry care market players are introducing liquid detergents with plant-based ingredients in response to the surging demand for organic homecare products. On account of this, sales of laundry care products are expected to increase at 4% CAGR in terms of volume between 2021 and 2031.

Increasing adoption of advanced and automatic laundry machines which are compatible with detergent pods and liquid detergent also will improve the sales of liquid laundry detergents. Demand for sustainable and plant-based liquid detergents is rising, especially across India, China, and South Korea, which is expected to positively impact the growth in the market.

Historically, demand for laundry care products increased at 4% CAGR between 2016 and 2020. However, with unprecedented outbreak of COVID-19 and increasing awareness for personal hygiene, demand for organic liquid detergents and fabric softeners has burgeoned.

According to the report, emergence of e-commerce platforms and promotion of plant-based liquid detergents and laundry care products will continue accelerating the demand in the laundry care market.

Key Takeaways from FMI’s Laundry Care Market Study

  • Based on product type, the fabric softeners segment is poised to expand at over 5.6% CAGR 2021
  • In terms of source type, synthetic segment is expected to register growth at 5.1% CAGR during the forecast period
  • Sales of powder laundry care products are expected to reach US$ 38.5 Bn between 2021 and 2031
  • South Korea and Japan are expected to account for over 22% and 34% of global sales in 2021, respectively
  • India and China are expected to spearhead the growth of South and East Asia laundry care market, respectively during the forecast period

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Competitive Landscape

As per FMI, top players are expected to account for over 25%-35% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue.

Some of the key players are also introducing sustainable and plant-based laundry care products, targeting vegan consumers, to create lucrative revenues.

For instance, In September 2020, Woolite, a subsidiary of Reckitt Benckiser Group PLC, announced the launch of stain remover wipes which is made up of non-toxic ingredients and with eco-friendly packaging effective on all kinds of stain.

Some of the players operating in laundry care market profiled by FMI are Procter & Gamble Co., Unilever PLC, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Reckitt Benckiser Group PLC, Amway Corporation, Kao Corporation, S.C. Johnson & Son Inc., LG Household & Health Care Ltd., Golrang Industrial Group, Lion Corporation, Church & Dwight Co., Inc. and Alicorp S.A.A. among others

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Get Valuable Insights on Laundry Care Market

Future Market Insights, in its updated report, presents an exhaustive analysis on the global laundry care market, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights on growth drivers and market potential in detailed segmentation basis of product type (fabric softeners, laundry detergents, and others), source type (synthetic, organic, and others), form type (powder, cake/block, liquid, others), distribution channel (wholesaler/distributors, supermarket/hypermarket, convenience stores, ecommerce, grocery stores, and others) across seven major regions including North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan.

Home Decor Market is expected to grow at a CAGR of Approximately Over 2022-2031

With the rising number of individuals owing homes, especially in developing countries, the home décor market is on a rise globally. In home décor, things like furniture, textiles and floor covering are used to enhance the living space. One factor responsible for the rapid increase in the home décor market is the expansion of the real estate industry. In addition, due to factors such as globalization, new kinds of designs and a variety of items for home decoration are available to people easily and this is encouraging the growth of this market. To give a further fillip to the home décor market is the rise of the online retail segment. Due to the rise of the online retail, furniture and other items used for home décor are available at a discounted price and have become more affordable. Hence, a large number of people are accessing these online retail outlets to decorate their homes. Other factors that are encouraging the growth of this market are the rise in the disposable incomes and improving lifestyle of people. However, there are some restraints that are slowing the market growth of home décor products like the increasing price of raw materials like wood and leather.

The global home decor market is slated to touch a value of nearly US$ 855,680 Mn in the year 2022 and grow at a robust CAGR during the assessment period.

4 Forecast Highlights on Global Home Decor Market

  • As per the forecast of Future Market Insights, the rugs segment is slated to touch a value of nearly US$ 155,460 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The rugs segment is estimated to account for nearly one-fifth of the revenue share of the product type segment by the year 2017 end and is expected to gain in market share by the year 2022 end.
  • As per the forecast of Future Market Insights, the direct to consumer segment will reach a value of nearly US$ 127,733 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The direct to consumer segment is estimated to account for more than one-fifth of the revenue share of the distribution channel segment in the year 2017 end and is expected to lose market share by the end of the year 2022.
  • As per the forecast of Future Market Insights, the indoor segment is slated to reach a value of nearly US$ 560,205 Mn in 2022. The indoor segment is expected to lose some market value by the end of the year 2022. The largest share is contributed by the APEJ region in the indoor segment.

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  • Future Market Insights forecasts the China home décor market to grow from US$ 79,955 Mn in 2017 to US$ 109,434 Mn in 2022. This represents a compound annual growth rate (CAGR) of 6.5% from 2017 to 2022.

The report has also profiled leading players in the global market for home decor, which will remain active through 2022. These include companies such as Samson Holding Ltd., Koninklijke Philips N.V., Springs Window Fashions LLC, The Oneida Group, Inc., Siemens AG, Suofeiya Home Collection Co., Ltd., Conair Corporation, Inter Ikea Systems B.V, Hanssem Co., Ltd. and Zepter International Inc

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Baby Bath and Shower Products Market is expected to grow at a CAGR of Approximately Over 2022-2031

Global baby bath and shower product sales is expected to grow at a healthy CAGR of over 6.5% during the study forecast period 2021-2031, despite a period of subdued growth in 2020, according to a latest study by ESOMAR-certified market research firm, Future Market Insights (FMI). The research study tracks baby bath and shower product sales in 20+ countries, offering a lucid analysis on how growth trend will unfold.

Biotechnology expertise is being used by the players to build high-performance baby bath and shower products, attracting a large number of customers. The use of such expertise is prominent in the highly competitive industry with great investment in research and development facilities.

For example, Massey Medicinals Company offers the ‘Candida Freedom’, a handcrafted product line, which includes biodegradable soaps and bath salts. These products contain probiotic lactospore, a Sabinsa Corporation-developed bacillus coagulans strain.

Furthermore, due to their proven benefits, ensuring safe and radiant skin, products based on micro-biome technology are in high demand. JooMoo Ltd., for example, produced a baby body wash with its own Microbiota Immune Response Control (MIRR) technology.

This ‘three-in-one’ product, is offered on various sales platforms and are designed to cleanse, disinfect, and moisturise the baby skin. As a result, the growth of the bath and shower products industry is likely to be aided by the introduction of biotechnology.

FMI in its latest study has forecasted the market to rise at a CAGR of 6.1% between 2021 and 2031, in terms of volume of sales.

Key Takeaways from the Baby Bath and Shower Products Market Study

  • The U.S. will remain a leading baby bath and shower products market, accounting for over 76% of sales in North America in 2021.
  • Rising demand natural and chemical-free ingredients in baby shampoo and soaps is expected to drive the sales in the Japan and South Korea.
  • In terms of product type, soap and shower gel is expected to hold a dominance through the forecast period.
  • Baby bath and shower products demand to rise at 4.8% in the U.K. Sales however will surge at a higher pace in France and Spain.
  • Despite hypermarkets/ supermarkets’ dominance, sales via online retailers are expected to increase at a higher rate.

“The implementation of biotechnology by manufacturers is allowing them to revolutionize baby bath and shower products manufacturing. In the coming years an increasing number of market players are likely to focus on advanced technologies to gain competitive edge,” says an FMI analyst.

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Impact of COVID-19 on the Market

The global COVID-19 pandemic has caused a surge in demand for personal cleansing products internationally. People resorted to panic buying and stockpiling at some point.

However, the closing of retail outlets, restrictions on pricing and marketing, and curfews in many countries around the world had resulted in lower sales volumes.

Furthermore, germ-protecting, anti-septic bathing products, and medicinal products are in high demand among consumers. Therefore, manufacturers are working hard to meet this demand.

Sanitation has become a vital aspect of virus prevention, and as a result, demand for baby care products is increasing.

Who is Winning?

Some of the key players present in the baby bath and shower products market are Kimberly Clark, Johnson & Johnson’s Company, Procter & Gamble, Unilever, Wipro, Burt’s Bees, Avon Products, Inc., Beiersdorf AG, Loreal SA, Chicco, Babyganics, Himalaya, Sebapharma, Weleda, and Green People among others. Aggressive promotional strategies, advertisements, and new product launches have driven sales growth of baby bath and shower products globally.

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Global Baby Bath and Shower Product Market by Category

By Product Types:

  • Shampoo
  • Conditioner
  • Soap and shower gel
  • Others

By Price:

  • Premium baby care products (>US$ 50)
  • Mass baby care products (US$ 0-US$ 50)

By Sales Channel:

  • Hypermarkets/ Supermarkets
  • Specialty Stores
  • Multi-brand Stores
  • Online Retailers
  • Wholesalers & Distributors
  • Other Sales Channels

By Region:

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

South America Residential Water Treatment Equipment Market is expected to grow at a CAGR of Approximately Over 2022-2026

As urbanization prevails across various emerging economies, at the backbone of infrastructure development is the requirement of providing clean water for drinking and other household purposes. A number of governments across the world have pledged to providing safe water to their residents and the emerging economies of Brazil, Argentina, Chile, Peru, and Venezuela makes South America an important region for the vendors operating in the residential water treatment equipment market. According to a recent business and commerce study by Future Market Insights (FMI), the demand in the South America residential water treatment equipment market will multiply at a CAGR of 9.2% during the forecast period of 2016 to 2026. In 2016, the total opportunities in this market translated into a revenue of US$330.0 mn.

Increasing awareness regarding environmental pollution, harmful effects of hard water, increasing issues pertaining waterborne diseases and other risks, advent of smart water purifiers, growth in online sales of equipment for water treatment, and the need for additional treatment at POE or POU to gather recycled water are a few factors driving the residential water treatment equipment market. On the other hand, lack of awareness among consumers, cost of equipment, installation, and periodic services, and aging infrastructure are a few obstructions hindering the prosperity of the market. Nevertheless, growing investments on energy-efficient and advanced water treatment technologies, smart metering and data analysis, provision of product certification and performance of specific products, growing number of collaborations between government and private players, and recent technological advancements in the treatment processes.

The analysts of the report have detected that Brazil is the most lucrative country for the vendors operating in the South America residential water treatment equipment market, projecting the demand from the 200-plus million strong nation to increment at a CAGR of 8.7%, producing a revenue of more than US$475 mn by 2026. The Brazil residential water treatment equipment market is driven by favorable government policies to counter radically escalating water contamination concerns in the states of Rio de Janeiro, Espírito Santo, São Paulo, and Minas Gerais. These states have had tremendous industrialization in the recent past, which is leading to greater demand for water purifiers.

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In 2015, volume-wise, the Brazil residential water treatment equipment market produced a demand for 345 thousand units, and the FMI report has estimated the number to escalate up to 875 thousand units by 2026, gaining traction from growing awareness regarding the need and availability of products among the urban consumers. Most of the sales are being report from online portals and retail stores, while direct marketing methods are not generating enough leads.

The competitive landscape of the South America residential water treatment equipment market is split wide open for product differentiation. There is a strong need for the introduction of new and innovative products in the regional market and the players are now increasing concentrating on UV and gravity or media based purifiers, as these products meet the aesthetics norms. Some of the prominent companies in the South America residential water treatment equipment market, such as LG, Forbes Lux Group, Philips, and Panasonic are innovating and promoting UV purifiers and are expected to maintain their stronghold throughout the forecast period.

Based on equipment, the FMI report segments the South America residential water treatment equipment market into osmosis equipment, UV equipment, gravity or media equipment, faucet filter, and other filters.

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Men’s Underwear Market is expected to grow at a CAGR of Approximately Over 2022-2031

According to a recent report by Future Market Insights (FMI), the men’s underwear market surpassed a valuation of US$ ~10 Bn in 2020 at a CAGR of approximately ~4% through 2031. Besides innovation in designs, the market is gearing to witness the launch of electronic underwear, designed particularly for elderly patients.

Rising prevalence of various health issues such as bedsores or pressure ulcer expects will result in high sales of electronic underwear to help improve mobility especially, among the elderly population.

For instance, 2exist provides with men’s hot underwear, which is stunning in both ways- fashion and function wise. The electric no-show brief provided by the company comes with an electric waistband that gleams and shines in the most subtle way.

The underwear is the supportive and comes in various shades, which makes them more fashionable. With the help of modern machinery, the underwear is designed innovatively so that it has stitching on its sides and a center seam for more comfort and space.

Customers suffering from health issues look for easy and comfortable solutions. This is expected to boost the sales in the men’s underwear market. In addition to this, investment towards research to fashion inner garment for the comfort of patients will encourage innovations in the market.

Key Takeaways from the Men’s Underwear Market Study

  • Based on material type, linen-made men’s underwear is likely to remain highly sought-after owing to the rising demand for luxurious and premium underwear among men.
  • As per analysis, demand for boxer shorts is expected to grow at a CAGR of over 5% over the forecast period.
  • Sales via multi-brand stores will pick up in the coming years.
  • Demand in the U.S. is expected to grow by 3% CAGR between 2021 and 2031.
  • Sales of men’s underwear will pick up pace at 5% CAGR in the U.K.

 “Rising demand for comfortable, highly mobile, soft, and premium feel innerwear among men is driving the sales of men’s underwear. Rising health concerns are encouraging manufacturers to innovate product line and introduce advanced design in men’s underwear,” says a lead FMI analyst.

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Impact of COVID-19 on the Market

The sudden outbreak of the COVID-19 has transformed the growth factors for various industries. The implementation of work from home trend has led to the rise of awareness regarding personal health among individuals, which is further driving the interest of customers towards premium and comfortable innerwear that have new designs and are stylish at the same time.

On the flip side, strict regulations imposed on the movement of individuals in commercial areas, lack of trading between countries led to plummeting sales for a short period of time. However, with time, the men’s underwear market is likely to bounce back, exhibiting a steady growth through the course of the forecast period.

 Who is winning?

Leading manufacturers of men’s underwear are adopting aggressive promotional strategies and advertisements to driven sales. Leading players present in the men’s underwear market are Hanesbrands Inc., Philips-Van, Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle, Outfitters Inc., Iconix Brand Group Inc., J.C. Penney Corporation Inc., Under Armour, Inc., RibbedTee Company, Ramblers Far, Inc., Levi Strauss & Co., Perry Ellis International Inc., and Naked Brand Group Inc. among others.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global men’s underwear market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.

The study divulges compelling insights on the men’s underwear market based on the material type (cotton, wool, silk, polyester, rayon, linen, nylon, and others), by category (regular brief, boxer brief, boxer shorts, trunks, and thongs), by size (XS, S, M, L, XL, XXL, and XXL), by age group (15-25, 26-35, 36-45, 46-55, 56-64, and 65+), by price range ( Below US$ 10, US$ 10 – US$ 20, US$ 20 – US$ 30, and US$ 30 & Above), by sales channel (wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, multi-brand stores, online retailers and others, across each of the seven major regions.

Middle East Flooring and Carpet Market is expected to grow at a CAGR of Approximately Over 2022-2026

The market insight named “Flooring and Carpet Market: Middle East Industry Analysis and Opportunity Assessment, 2016–2026”conceived by Future Market Insights gives a transparent and smart analysis of the regional market. The report is an in-depth study of the market psyche and it also speaks elaborately on the several core components that can impact the fabric of the market within the period of assessment. The report delves deep into the darkest corners of the markets spread across the Middle East and tables some very crucial and futuristic data which are close-knitted with the genetic behaviour of the market. The report says that the Middle East flooring and carpet market will grow manifold within the forecast period. Within the assessment period the market will shine and rise it will record more than 5% CAGR.

This region of the globe is a cradle of weavers. Some of the best-known hands who can weave magic are available in part of the world. A plethora of products is available in this expanding middle-east flooring and carpet market. The portion of the world is steadily rising as one of the major tourism hubs also the real estate segment of this region is on fire. The economy is thriving and basking with a wave new investment. This entire economic resurgence is pushing ahead the width of the middle-east flooring and carpet market. The market exports some of the best quality, artificial grass, carpets, rugs, variety of laminated floorings and carpet titles to different parts of the world. The demand of these of niche products are maximum in different parts of the globe and as per this market analysis, the demand for these luxury products will surge in the coming few years. As per the report, the middle-east flooring and carpet market will cater commercial as well as the domestic customers.

The market is extremely challenging as most of the customers of this segment do have an eye for details and they are eager to shell out some extra bucks to get the best possible products from the market. To cope up with this new breed of customers the manufacturers are polishing their skills and tabling custom made products to stay afloat in this competitive market. Lucrative discounts, advanced 3D technology is introduced in the market to enhance the customer outreach. The major stakeholders of the market are steadily revamping their manufacturing policies to meet the elevated environment-friendly standards issued by the government.  As per the application type, the market is fragmented into commercial, residential offices, hospital and healthcare, industrial application, automotive and retail. Several raw materials are used in this market and they are Polypropylene, polyester, other materials and nylon. The rise of the new luxury conscious customers, expanding the economy of the region and expanding demand for these products in educational institutes, hospitals and hospitality will drive the market forward in within the assessment period predicts the report.

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Segment Analysis

  • The nylon section will dominate more than 40% of the market share until the end of 2016 apart from this the other material segment of the market will also contribute significantly to the growth of the Middle East flooring and carpet market
  • The residential segment will push the market ahead in 2016. The automotive application and hospitality segment will also show positive results in the assessment period

Regional Analysis

Qatar and Kuwait will be significant contributors to the growth of the Middle East flooring and carpet market. As Qatar will be the hosting mega football event in the year 2022, thus it will affect the market periphery of the flooring and carpet. Apart from this other country of this region such as UAE, Egypt, Iran, Kuwait, Bahrain, Oman and Turkey will also showcase good development in the market.

Vendor Insights

Some of the prime players who are operating in this segment are Cerner Corporation, Care Fusion Corporation, Kirby Lester LLC, Swisslog Holdings AG etc.

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Europe & Asia Pacific Herbal Beauty Products Market is expected to grow at a CAGR of Approximately Over 2022-2026

Future Market Insights (FMI) delivers key insights on the Europe & Asia Pacific herbal beauty products  market in its upcoming outlook titled, “Europe & Asia Pacific Herbal Beauty Products Market: Industry Analysis and Opportunity Assessment, 2016–2026”. In terms of value, it is expected that the Europe & Asia Pacific herbal beauty products market will register a CAGR of 3.7% during the forecast period due to various factors, on which FMI offers vital insights in detail.

Consumer preference for clean label beauty care products is shifting significantly due to increasing awareness regarding the benefits of herbal and natural ingredients. Consumers are increasingly opting for greener products owing to presence of toxic ingredients in synthetic cosmetic products, which are known to cause various adverse effects. Moreover, consumers are currently more informed regarding the benefits of using herbal products through promotions, advertisements and activities on various social media platforms. Herbal skin care products improve skin texture, tone and appearance owing to presence of nutrients required to enrich overall skin health. Increasing consumer demand for eco-friendly personal care products has prompted companies to enter into the herbal and natural personal care products market and develop new and advanced products. Manufacturers are continuously launching herbal personal care products with remedial properties and long-term benefits, which is resulting in addressing existing consumer requirements and aiding in expanding customer base.

Segmentation analysis

  • On the basis of end-use, the Europe & Asia Pacific herbal beauty products market is segmented into male and female. Female segment is estimated to account for the largest share by 2016 end. Male segment is expected to account for substantial growth over the forecast period. Increasing inclination of male consumers towards personal grooming and outward appearance among is expected to support growth of the male segment over the forecast period.
  • Europe & Asia Pacific herbal beauty products market is also segmented on the basis of distribution channel which includes supermarket, specialty stores, departmental stores, drugstores, online/direct selling, and beauty salons. Among all these segments, supermarket segment is expected to account for relatively higher value share during the forecast period. Specialty stores segment has been estimated to occupy the second largest share accounting for 21.1% value share in 2015.

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  • As far as the types of herbal beauty products are concerned, Europe & Asia Pacific herbal beauty products market is segmented into skin care, hair care, oral care, and fragrance. Among all these segments, skin care type segment has been estimated to represent 45.7% value share in 2016 and expected to remain dominant over the forecast period.
  • Increasing acne issues owing to increasing humidity and pollution levels is expected to drive growth of the skin care type segment in the market during the forecast period. Skin care segment is sub-segmented into cream & lotion, cleanser & toner, facewash & scrub and others. Among these sub-segments, cream and lotion is expected to account for major value share over the forecast period.
  • Hair care segment is expected to occupy second largest position on the pie in terms of revenue contribution. The Hair care segment is sub-segmented into powder, hair oil, conditioner, shampoo, and others. The Oral care segment is likely to represent substantial growth over the forecast period. The segment is projected to represent 3.1% CAGR in terms of value growth by 2026 end.

Regional analysis

This report discusses trends driving growth of each segment and offers analysis and insights of the potential of the Europe & Asia Pacific herbal beauty products market in specific region including Asia Pacific (APAC) and Europe. Markets in APAC are expected to record high growth rates in terms of value between 2016 and 2026. Japan has been estimated to be the largest consumer of herbal beauty products followed by China in 2015 across the APAC region.

Vendor insights

This report covers detailed profiles of key players in Europe & Asia Pacific herbal beauty products market, which includes key strategies, key developments, product offerings and others. Key companies profiled in this report are Bio Veda Action Research Co., VLCC Personal Care Ltd., Surya Brasil, Dabur India Ltd., Himalaya Global Holdings Ltd., Lotus Herbals, Hemas Holdings Plc, Sheahnaz Herbals Inc., and Herballife International of America Inc.

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Market segmentation

By Type

  • Hair Care
    • Hair Oil
    • Powder
    • Shampoo
    • Conditioner
    • Others (Masks and creams)
  • Skin Care
    • Cleansers & toners
    • Cream & lotion
    • Scrubs & facewash
    • Others (mask)
  • Fragrance
  • Oral Care

By End Use

  • Male
  • Female

By Distribution Channel

  • Supermarket
  • Specialty Stores
  • Departmental Stores
  • Drug Stores
  • Beauty Salons
  • Online/Direct Selling

By Region

  • Europe
  • Asia Pacific (APAC)

Perfume Market is expected to grow at a CAGR of Approximately Over 2022-2031

According to a recent report by Future Market Insights (FMI), the perfume market is expected to reach a valuation of US$ 35 Bn in 2021, expanding at a steady 4% CAGR through 2031.

Shifting consumer preference towards natural ingredients in perfumes that offers a unique and soothing aroma is encouraging product developments by manufacturers, thereby augmenting growth of the market.

Rapid urbanization, along with increasing adoption of smartphones has led to more awareness regarding various side effects caused by the undisclosed chemical used in perfumes. In addition to this, rising adoption of perfumes among old-age customers is encouraging manufacturers to use natural ingredients with a pleasant aroma.

The aforementioned factors are spurring demand for renewable ingredients in perfume manufacturing. Moreover, players are initiating the use of microbial-based natural ingredients in perfumes to increase the spray quality and cater to the demand from environment and health-conscious consumers.

“Growing demand for new perfumes manufactured using natural ingredients, increasing investments by players in smart  packaging of perfumes, and easy customization are key factors anticipated to boost the market in the forthcoming years,” says the FMI analyst.

Key Takeaways:

  • Based on the product type, sales of Eau Fraiche are expected to increase at a 4% CAGR over the forecast period.
  • In terms of nature, demand for natural perfumes is projected to surge at a 5% CAGR.
  • Sales of unisex perfumes are expected to grow at a 3% CAGR through 2031.
  • Based on sales channels, the online retailing segment is projected to expand at a 4% CAGR over the forecast period.

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Who is winning?

Leading players operating in the perfume market are Estee Lauder Companies Inc., LVMH Moet Hennessey Louis Vuitton, Coty Inc., L’Oréal S.A., Eliabeth Arden Inc., Shiseido Co Ltd., Puig SL., Perfumania Holdings Inc., Avon Products Inc., Hermes International S.A., Natura Cosmetics S.A., Channel S.A., Clarins, Revlon Inc., and Givaudan among others.

As per FMI, top 5 players are projected to account for 15-20% of the total market share.To gain a competitive edge, are investing in promotional strategies marking techniques. For instance:

  • In 2020, Sisleys’s signature fragrance Eau du Soir returned, and the company launched their limited edition infused with delicacy and poetry. The unique scent reflects the sky’s glow to pay homage to the chypre floral notes responsible for the success of Eau du Soir.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global perfume market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.

The study divulges compelling insights on the perfume market based on the product type (Eau de Parfum, Eau de Toilette, Eau de Cologne, and Eau Fraiche), nature (natural & synthetic), by end-use (men, women, & unisex), sales channel (wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, multi-brand stores, independent drug stores, online retailers and others), across each of the seven major regions.

Online Clothing Rental Market is expected to grow at a CAGR of Approximately Over 2022-2030

Future Market Insights (FMI) in a new report has projected online clothing rental market to exhibit solid growth between 2021 and 2031. The market is projected to reach US$ 1.8 Bn by 2021. The subscription model is becoming a new trend in the clothing rental business. It appeals to retailers who are under pressure to cater to shifting consumer inclinations before certain designs lose favor.

Even with declining garment sales, the clothing rental industry is strolling assortments down the subscription model plans with an end goal to reach its customers. The subscription model does not just give clothing rental organizations experience to potential customers, it creates recurring revenues. However, it can save retailers the expenses associated with traditional brick-and-mortar stores. The clothing rental subscription and rental market also provide designers with fast insights into shopper’s inclinations.

Moreover, the online clothing rental subscription market is extending its customer’s reach by obliging specialty/niche markets. Some of them are adopting innovative strategies to gain traction. For instance, Gwynnie Bee offers rental clothes for plus-sized shoppers – something that has been disregarded by other online clothing rental retailers.

Meanwhile, Union Station intends to remove the nuisance from buying bridesmaid dresses, which are regularly costly and purchased by the taste and style of the lady, not the wearer. The firm empowers ladies to choose their bridesmaids’ dresses, which would then be able to be returned after they have been dry-cleaned.

Thus, online clothing rental is intended to help the customers curb expenditure on buying new clothes for any special occasion/purpose.

Key Takeaways from the Online Clothing Rental Market Study

  • FMI in its latest study has forecast the market to rise at a CAGR of ~11.0% between 2021 and 2031
  • The U.S. has emerged as a highly lucrative market, accounting for nearly 95% of the North America market
  • The U.K. is projected to register 11.8% Y-o-Y growth in 2021, performing exceedingly well within the Europe market
  • Germany and France will continue exhibiting high demand for online clothing rental
  • Within East Asia, the demand for China and South Korea is expected to be higher than Japan

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COVID-19 Causing Disruptions in Online Clothing Rental

Prior to the COVID-19, online clothing rental was set to achieve sustainability, but the pandemic has caused significant disruptions as events such weddings, social gatherings, and other occasions were cancelled due to the imposition of lockdown in various nations across the world.

Companies such as Rotaro, Rent the Runway, and others saw a decline in the number of rental requests. As the online clothing rental companies are primarily event-based, so when there have been no events and people are not going out in the pandemic period which in turn had a profound effect on the clothing rental business.

Who is winning?

Some of the key players operating in the online clothing rental market are Rent the Runway, Rotaro, GlamCorner Pty Ltd., Gwynnie Bee Company, Mine for Nine LLC, Dress Hire AU, ThreadTread, Nuuly, Rent The Front Row LLC, Dress & Go Company, Chic by Choice Company, Style Lend Company, Rent It Bae Company, Mr. & Ms. Collection, The Secret Wardrope, Banana Republic LLC, Le Tote Company, and Lending Luxury, among others.

  • In September 2020, to meet the changing preference/needs of today’s shoppers Rent the Runway implements new clothing subscription model plans which include dry cleaning and rental coverage, free shipping and returns, and members-only discounts. Further, the company is also using sustainable strategies to improve the environment by using recyclable garment bags.
  • In 2019, the Gap Inc. owned company Banana Republic LLC had partnered with CaaStle and launched ‘style passport’ an online rental subscription for women. This would help the company to connect with millennials and Gen Zs who would to experience fashion in a sustainable manner.

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Online Clothing Rental Market by Category

Product Type

  • Knitwear
  • Trousers & Jeans
  • Jumpsuits
  • Suits & Blazers
  • Coats & Jackets
  • Skirt & Shorts
  • Ethnic Wear

Business Model

  • Standalone Model
  • Subscription Model

End-User

  • Business-to-Business (B2B)
  • Business-to-Consumer (B2C)
  • Consumer-to-Consumer (C2C)

Consumer Orientation

  • Men
  • Women
  • Kids

Region

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

Mobile Phone Accessories Market is expected to grow at a CAGR of Approximately Over 2022-2031

The increasing application of mobile phones and the expansion of 5G technology to ease operations and help in the smoother functioning of these devices are expected to have significant impact on mobile phone accessories market. According to a study by Future Market Insights (FMI), the market will surpass US$ 86.80 Bn by 2021.

With the incorporation of IoT in households, a swift rise in the demand for mobile phone accessories has been witnessed, and this trend will continue in the near future. The emergence of 5G technology will also boost the demand for mobile phone accessories that work on augmented reality and virtual reality technology.

The high speed of 5G technology will provide a better experience of devices that are connected through wireless technology and will play a major role in driving the demand for wireless connectivity devices.

In addition, growth in smart homes and smart appliances sales has been a complementing factor for mobile phone accessories. The demand for protective cases and covers is expected to be significantly high. Nearly 20% of mobile phone accessories sales are expected to concentrate in this segment.

With the advent of 5G technology, consumers will have a better experience at the usage of smart devices owing to better connectivity and high-speed Internet, which is estimated to fuel the demand for smart devices in the near future.

Key Takeaways from the Mobile Phone Accessories Market Study

  • FMI in its latest study has forecast the market to rise at a CAGR of ~6.7% between 2021 and 2031
  • The U.S. is expected to register impressive growth, accounting for above 78% of overall sales in North America
  • The U.K. is expected to register nearly 4% Y-o-Y growth in 2021
  • The demand from Germany and France is expected to rise considerably in response to the expansion of 5G networks
  • While China will remain leading market in East Asia, the demand from South Korea and Japan too is expected to rise at a swift pace

“Market players are focusing on the expansion across eCommerce platforms such as Amazon, Walmart, and others to expand their footprint. Besides this, their investment towards innovation is increasing as well to launch products with advanced features,” says an FMI analyst.

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Increasing Focus on the Miniaturization of Electronic Devices

Companies are focusing on introducing compact electronic components for printed circuit boards. This is intended to enhance the performance of devices such as smartphones as well as reduce the overall production cost.

Moreover, they are expanding their footprint, especially in high-growth markets such as India and China through various mergers and acquisitions. Mobile phone accessories are increasingly adopted for improving the end-user experience of mobile phone users, which has contributed to the growing demand for mobile phone accessories.

Impact of COIVD-19 & 2020 Market Analysis

The COVID-19 outbreak has encouraged governments and organizations to take exceptional measures to deal with the ongoing crisis. Such measures have led to the implementation of various restrictions on movement and business, transitory closure of organizations, and required physical distancing for extended period of time.

The COVID-19 pandemic has fundamentally reduced worldwide monetary action and has caused critical instability across various sectors. The COVID-19 pandemic and the measures taken by nations in response have adversely affected the mobile phone accessories business across the world.

Who is winning?

Some of the key players operating in the mobile phone accessories market are Samsung Electronics Co. Ltd., Logitech International S.A., Harman International Industries Incorporated, Plantronics Inc., Apple Inc., Sony Corporation, GN Group, Incipio Group, Western Digital Corporation, Kingston Technology Company Inc., Cambridge Soundworks Inc., Bscstore Inc., The Case Factory, TYLT, Ballistic, Moftware Inc., Seidio Inc., Skullcandy Inc., SincoCase International Industrial, Case Mate Inc., and among others. In order to gain competitive advantage, the market players are focusing on product launches. For instance:

  • In May 2020, Skullcandy Inc. had launched its new True Wireless earbuds-Push Ultra, Indy Evo, Indy Fuel, and Sesh Evo. This would help the company to attract more customers as the company had also added new features like wireless charging, solo bud use and Tile technology which would help the customer to experience unlike any other in the market.
  • In December 2020, Apple Inc. had launched AirPods Max, wireless headphones. The new AirPods Max has advanced software to power computational audio for a breakthrough listening experience with adaptive EQ, active noise cancellation, transparency mode, and spatial audio. This would help the customers to have a breakthrough listening experience.

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Mobile Phone Accessories Market by Category

Product Type

  • Power Banks
  • Batteries
  • Chargers
    • Wired
    • Wireless
  • Protective Cases & Covers
  • Headsets
  • Portable Speakers
  • Memory Cards
  • Data Cables
  • Mount & Stands
  • Selfie Stick
  • Others (Stylus Pen)

Packaging Type

  • Folding Cartons
  • Clear View Boxes
  • Pouches & Bags
  • Clamshells
  • Blister Packs
  • Trays

Sales Category

  • By Brands
  • By 3rd Parties
  • By White Labels/No Name Brands

Price Range

  • Premium
  • Mid
  • Low

Sales Channel

  • Retail Outlets (Multi-Brand Outlets)
  • Electronic Stores
  • Franchise Outlets
  • Exclusive Stores (Branded Stores)
  • E-Commerce

Region

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