Market Overview:
According to Fortune Business Insights, Global MICE Market size was valued at USD 1,051.41 billion in 2024. The market is projected to grow from USD 1,148.35 billion in 2025 to USD 2,269.16 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 10.22% over the forecast period.
MICE (Meetings, Incentives, Conferences, and Exhibitions) focuses on organizing and managing events for academic, professional, business, and cultural purposes. It integrates travel and event services for groups of all sizes. Globalization has fueled this market by boosting business opportunities, international outreach, and business tourism.
List of Key Players Mentioned in the Report:
- ITA Group (U.S.)
- Flight Centre Travel Group Limited (Australia)
- Freeman (U.S.)
- Meetings and Incentives Worldwide, Inc. (U.S.)
- Conference Care (U.K.)
- One10, LLC (U.S.)
- BCD Meetings & Events (U.S.)
- Creative Group, Inc. (U.S.)
- Access (U.S.)
- CWT Meetings & Events (U.S.)
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Segmentation:
Meetings Segment Dominate, driven by Rising Corporate Events Globally
In terms of event type, the market is fragmented into meetings, incentives, conventions, and exhibitions. The meetings segment captures the leading MICE market share, driven by rising corporate events worldwide. These one-day gatherings, held in hotel conference rooms, focusing on organizational planning, strategy, and goal setting. Common types include general, board, supplier, and annual business meetings.
Accommodation Segment Lead On Account of its Key Role In Ensuring the Smooth Conduct Of Events
As per service type, market is classified into accommodation, transportation, food & beverages, event management, and others. MICE-oriented amenities make the accommodation segment dominant in the market, with hotels targeting business travelers who spend more on stays. To ensure year-round demand, hotel chains provide discounted rates during off-seasons, boosting occupancy and revenue stability.
In terms of region, the market is categorized into Europe, North America, the Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The research report offers a comprehensive market analysis, covering the competitive landscape, company profiles, key drivers, restraints, and opportunities. It also provides insights into market trends and key industry developments contributing to recent growth. It also highlights key players, product launches, and the impact of COVID-19 on the growth of the market.
Market Scope:
The market scope offers an in-depth evaluation of the industry across multiple dimensions, including product types, major applications, target consumer segments, and regional trends. It provides both qualitative and quantitative insights into current market dynamics, such as emerging trends, growth drivers, key challenges, and potential opportunities at global and regional levels. Additionally, the scope includes advancements in technology, competitive landscape analysis, supply chain evaluation, and regulatory developments shaping market progression. This comprehensive analysis serves as a valuable resource for manufacturers, investors, and policymakers in making well-informed strategic decisions and long-term growth plans.
Regional Insights:
Europe Leads the Market Driven by Rising Corporate Events
Europe holds the largest share in the global MICE (Meetings, Incentives, Conferences, and Exhibitions) market, fueled by a steady rise in corporate events and exhibitions. The region is at the forefront of promoting sustainable tourism, with nearly two-thirds of MICE industry stakeholders incorporating Corporate Social Responsibility (CSR) initiatives into their offerings. Germany and the U.K. remain key contributors, supported by a strong presence of international business activities.
North America Gains Momentum with High-End Event Infrastructure
North America also commands a significant market share, propelled by thriving sectors such as advanced manufacturing and financial services. Major cities like Toronto and Las Vegas offer premier venues for global business events. The region’s focus on luxury and experiential services—highlighted by iconic locations like Vancouver’s Shangri-La and the Fairmont Hotel—further boosts its attractiveness for upscale MICE events.
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Competitive Landscape-
Key Players Focus on Innovations to Gain Competitive Edge
The global MICE market is highly competitive, with key players such as ITA Group and Freeman leveraging technology, innovation, partnerships, and expansions to maintain an edge. Strong marketing and promotional strategies are also crucial for building brand awareness.
Key Industry Development:
September 2024 – Yatra Online Limited, an Indian travel & tourism company, announced a 100% stake acquisition in Globe All India Services Ltd., an Indian travel agency, to become a market leader in India’s business travel and corporate event management sectors.
Key Market Insights
According to Fortune Business Insights, the Global Eye Makeup Market was valued at USD 12.44 billion in 2024 and is expected to reach USD 20.38 billion by 2032, growing at a CAGR of 6.5% during the forecast period. In 2024, the Asia Pacific region led the market with a dominant 47.43% share, driven by rising disposable incomes and the increasing influence of beauty trends promoted through social media.
Eye makeup products such as eyeshadow, mascara, and eyeliner are widely used—especially among women—to enhance eye aesthetics and overall appearance. The market’s growth is supported by rapid urbanization, evolving lifestyles, and a heightened focus on personal grooming, all amplified by the widespread reach of social media platforms.
Competitive Landscape
The global eye makeup market is fragmented, with significant competition between international and regional players. Key companies include:
- Faces Canada (India)
- Revolution Beauty Ltd. (UK)
- Morphe Brushes (U.S.)
- Natura & Co (Brazil)
- e.l.f. Cosmetics (U.S.)
- Huda Beauty (UAE)
- Shiseido Company (Japan)
- L'Oréal S.A. (France)
- The Estée Lauder Companies Inc. (U.S.)
Players focus on expanding product portfolios, increasing online presence, launching innovative products, and leveraging celebrity endorsements to enhance brand visibility.
Market Trends
One of the most significant trends is the increased adoption of virtual try-on tools powered by augmented reality (AR) and artificial intelligence (AI). These technologies enable consumers to simulate makeup applications digitally, enhancing customer engagement and personalization. Companies like Perfect Corp. offer hyper-realistic 3D makeup simulations that are revolutionizing online cosmetic experiences. Key brands such as L’Oréal, Maybelline, Chanel, and Revlon have already integrated such technologies, driving product demand.
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Market Dynamics
Drivers
One of the primary growth drivers is the increasing focus on beauty and personal appearance. The influence of social media platforms, beauty influencers, and evolving beauty standards has made cosmetics an integral part of daily routines, particularly for urban and millennial consumers. Rising disposable incomes and a growing population of working women, especially in emerging markets, are further boosting expenditure on self-care and beauty products.
Restraints
However, heightened awareness of the potential side effects of chemical-based eye cosmetics poses a challenge to market growth. Ingredients such as parabens, phthalates, and synthetic coloring agents have been linked to eye infections, allergic reactions, and irritation, particularly with long-term use. Increasing consumer health consciousness, combined with stricter regulatory oversight in certain regions, is prompting some users to avoid products with heavy chemical formulations.
Opportunities
Shifting consumer preferences toward natural and eco-friendly cosmetics present substantial growth potential. Formulations incorporating ingredients like aloe vera, almond oil, plant-based powders, and beeswax are gaining traction, especially among Gen Z and millennials, who value sustainability and clean beauty. In addition, technological advancements—such as 3D-printed makeup, AI-driven beauty advisors, and smart mirrors—are opening new avenues for innovation and market expansion.
Regional Insights
Asia Pacific
Asia Pacific is the largest regional market, led by China and India, where rising income levels and the growing working female population bolster demand for premium cosmetics. Social media's influence, coupled with evolving beauty trends like smokey eyes and glossy lids, drives product adoption.
North America
Holding around 23% market share in 2024, North America benefits from strong e-commerce infrastructure, technological trends like virtual try-ons, and a large population of professional makeup artists. The U.S. leads the region, with states such as Texas, New York, and Florida having high makeup artist employment rates. Additionally, an aging population boosts demand for cosmetics.
Europe
Europe showcases high fashion consciousness, particularly in countries like France, Italy, and Germany, spurring eye cosmetic use to complement fashion styles. The region is also a hub for natural and organic products, responding to growing sustainability trends.
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Key Industry Developments
- March 2025: Louis Vuitton collaborates with makeup artist Pat McGrath to launch a new makeup line.
- January 2025: RevitaLash introduces Length Define Tubing Mascara.
The global eye makeup market is poised for robust growth driven by technological innovations, evolving beauty standards, and rising consumer demand for sustainable products. Companies that integrate digital tools, natural formulations, and personalized experiences will likely capture significant market share in the years ahead.
Market Overview
According to Fortune Business Insights, the global PC gaming market was valued at USD 76.73 billion in 2024 and is projected to grow from USD 86.12 billion in 2025 to USD 152.16 billion by 2032, exhibiting a CAGR of 8.47% during the forecast period. Asia Pacific led the market with a 46.7% share in 2024, driven by high spending on subscriptions, in-game purchases, and online community engagement across countries such as China, Japan, and India.
PC games continue to gain popularity due to superior processing power, advanced graphics, and immersive experiences compared to mobile, tablet, or console-based gaming. Demand is further boosted by the rising adoption of AI, mixed reality, and innovative graphic design in gaming laptops and desktops.
Competitive Landscape
The global PC gaming market is moderately concentrated, with major players focusing on multi-platform game launches, technological advancements, and strategic partnerships.
Key Players
- Microsoft Corporation (U.S.)
- Nintendo Co. Ltd. (Japan)
- Rovio Entertainment Corporation (Finland)
- Nvidia Corporation (U.S.)
- Valve Corporation (U.S.)
- Electronic Arts, Inc. (U.S.)
- Sony Group Corporation (Japan)
- Bandai Namco Holdings Inc. (Japan)
- Tencent Holdings Ltd. (China)
- Activision Blizzard, Inc. (U.S.)
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Key Market Drivers
- Growing Gaming Laptop & Desktop Penetration
The demand for high-performance gaming devices equipped with dedicated GPUs, advanced cooling systems, and increased RAMis surging. The rising popularity of eSports, sponsorships, and game streaming platforms like Twitch, Facebook Gaming, and YouTube Gaming is also a major growth catalyst.- For example, HP doubled gaming PC shipments in India in 2022, reaching 28 million unitsfrom 0.13 million in 2021.
- Technological Advancements in Gaming Hardware
Improved processors and graphics cards deliver richer gaming experiences, driving player engagement and revenue growth. - Expansion of Cross-Platform Play
The increasing availability of cross-platform games with real-time interaction and enhanced graphicscreates new market opportunities and expands player communities.
Market Restraints
- High Costs of Gaming: Subscription fees, game purchases, and expensive peripherals (headsets, joysticks, keyboards) limit adoption among price-sensitive consumers.
- Gaming Addiction Concerns: Prolonged gaming sessions with intense graphics have raised regulatory and parental concerns in certain markets, impacting demand.
Market Opportunities
- Cloud Gaming & Game Streaming: The rise of platforms enabling high-end gaming without hardware investment offers significant growth prospects.
- AI Integration: Machine learning tools that enhance gameplay experiences, such as predicting competitors’ moves in multiplayer settings, are opening new avenues for innovation.
Regional Insights
Asia Pacific
- 2024 Revenue: USD 35.83 billion
- Fastest-growing region (CAGR: 10.13%), supported by large PC gamer populations, subscription spending, and gaming hardware adoption.
- Chinadominates due to a massive player base, strong desktop sales, and cross-platform/cloud gaming adoption.
- India benefits from government incentives like the expanded PLI scheme attracting gaming hardware manufacturers.
- Japan has high PC penetration and benefits from exclusive game releases.
North America
- Second-largest market in 2024, driven by high adoption in the U.S. and Canada.
- Strong presence of global developers like Epic Gamesand Valve, with significant in-game spending.
Europe
- Third-largest share, with strong demand for online multiplayer and cloud-based PC gaming services.
- Western and Central Europe see rising in-game purchases.
Rest of the World
- Growth in Brazil, Saudi Arabia, UAE, and South Africais fueled by rising internet penetration, social media coverage of gaming competitions, and increased accessibility to gaming laptops.
Recent Developments
- Mar 2025: Plug In Digital acquired PixelRatio to strengthen its European presence.
- Mar 2025: Xsolla updated its cloud gaming solution with AWS-powered streaming.
- Feb 2025: Rockstar Games launched GTA 6for PC.
- Jan 2022: Microsoft acquired Activision Blizzardto expand in PC, console, and cloud gaming.
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Market Trends
- Cross-Platform Integration: Games offering seamless experiences across PC, console, and mobile are expanding the player base.
- Rise of Subscription Models: Services like Xbox Game Passand EA Play are gaining traction, offering players access to extensive libraries at lower costs.
- Esports Growth: Competitive gaming events and streaming have become key revenue streams.
- AI & Immersive Technologies: Adoption of AI, VR, and MR enhances gameplay, graphics, and interactivity.
The global PC gaming market is on a strong growth trajectory, supported by technological advancements, the eSports boom, and the rise of cross-platform experiences. While high costs and addiction concerns remain challenges, opportunities in cloud gaming, AI-powered enhancements, and emerging markets are expected to drive substantial revenue gains through 2032.
Market Overview
According to Fortune Business Insights, the Global Necklace Market was valued at USD 50.03 billion in 2024 and is projected to grow from USD 52.32 billion in 2025 to USD 75.85 billion by 2032, exhibiting a CAGR of 5.45% during the forecast period.
The market is driven by evolving fashion trends, rising disposable incomes, growing demand for personalized jewelry, and the expanding influence of e-commerce platforms. In 2024, Asia Pacific led the global market with a substantial 40.9% share, fueled by a deep-rooted cultural affinity for jewelry and the rapid growth of the middle-class population, especially in China and India.
Competitive Landscape
The global necklace market is competitive, with a mix of established luxury brands and emerging designers. Major players include:
- LVMH Moët Hennessy Louis Vuitton (France)
- Tiffany & Co. (U.S.)
- Cartier International SNC (France)
- Harry Winston, Inc. (U.S.)
- Chopard (Switzerland)
- Chow Tai Fook Jewellery (Hong Kong)
- Pandora Jewelry, LLC (U.S.)
- Safagroup (India)
- Bymystique (UAE)
These companies are focusing on:
- Expanding digital and omnichannel presence
- Offering affordable luxury collections
- Adopting sustainable sourcing
- Collaborating with local artisans for region-specific designs
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Market Drivers
- Demand for Personalized and Custom Jewelry
Consumers, particularly millennials and Gen Z, are increasingly favoring personalized and customized necklaces that reflect their personal style, individuality, and values. Options such as engraved names, birthstones, and zodiac signs are highly sought after. Advancements in 3D printing, AI-driven design tools, and online customization platforms have made bespoke jewelry more accessible and affordable.
Additionally, rising participation of women in the workforce and enhanced spending power are contributing to higher demand for modern jewelry. For example, India’s female labor force participation rate increased to 37% in 2022-23, up from 30% in 2019-20, suggesting a growing customer base with disposable income to spend on jewelry.
- Influence of E-commerce and Social Media
E-commerce platforms and social media are transforming the way consumers purchase necklaces. Platforms like Instagram, TikTok, and Pinterest have become critical marketing channels where brands leverage influencer collaborations, live shopping events, and targeted ads to boost engagement and sales.
Brands such as Kendra Scott have successfully partnered with influencers to promote collections, demonstrating the power of social media in shaping consumer preferences and driving online jewelry sales.
Market Restraints
Fluctuating Raw Material Prices
The necklace market faces challenges from the volatile prices of precious metals and gemstones, including gold, platinum, and diamonds. Such fluctuations increase manufacturing costs, which can elevate the retail prices of necklaces, thereby affecting consumer affordability and reducing demand. As these materials are core to jewelry production, sustained price volatility could pose a significant barrier to market growth.
Market Opportunities
Rise of Sustainable and Ethical Jewelry
A notable trend in the necklace market is the growing consumer demand for sustainable and ethically sourced jewelry. Consumers are increasingly conscious of environmental impact, seeking pieces made from recycled metals, lab-grown diamonds, and conflict-free gemstones. Transparency in the supply chain and production practices is becoming a major value proposition for brands targeting eco-aware consumers.
Additionally, the growth of luxury tourism is creating opportunities for the jewelry sector. Tourists often purchase jewelry that reflects local craftsmanship or cultural significance, especially in premium travel destinations.
Market Trends
The market is witnessing an increased emphasis on:
- Customization and Personalization: Brands offer bespoke services and modular neckpieces that can be customized with charms, initials, or birthstones.
- Sustainability: Rising adoption of eco-friendly practices and materials.
- Technological Integration: Use of AI, AR, and 3D printing for personalized designs and virtual try-on experiences.
Segmentation Analysis
- By Product
- By Material
- By Distribution Channel
- Regional Insights
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Key Developments
- Pandora launched lab-grown diamond necklaces in the U.S. and Canada in August 2022.
- Noudar Jewels introduced jewelry combining Arabian heritage with modern aesthetics in May 2022.
The global necklace market is set to witness robust growth through 2032, driven by personalization trends, sustainability, social media influence, and rising purchasing power, especially in emerging economies. However, price fluctuations of raw materials remain a key challenge. Brands that focus on innovation, sustainability, and customer-centric designs are well-positioned to capitalize on the market’s evolving landscape.
Market Overview
According to Fortune Business insights, The global outdoor tables market was valued at USD 18.57 billion in 2024 and is projected to grow to USD 29.04 billion by 2032, registering a CAGR of 5.75% during the forecast period.
Outdoor tables, designed for patios, gardens, balconies, and commercial spaces, are gaining popularity as consumers increasingly view outdoor areas as functional extensions of their homes. The surge in home improvement projects and lifestyle upgrades—especially post-pandemic—has driven higher investments in outdoor décor and furniture.
The Asia Pacific region led the global market with a 45.88% share in 2024 , bolstered by strong manufacturing capabilities, growing middle-class populations, and a cultural shift toward outdoor living and home enhancement.
Competitive Landscape
Leading companies are investing in regional expansion , sustainability , and product diversification to maintain competitiveness. Flagship store launches, e-commerce partnerships, and region-specific product lines are strategic moves aiding brand visibility and growth.
Key Players:
- IKEA (Netherlands)
- Herman Miller Inc. (U.S.)
- Steelcase Inc. (U.S.)
- HNI Corporation (U.S.)
- West Elm (U.S.)
- Furniture Root (India)
- PBZ Manufacturing (U.S.)
- Bernhardt Furniture Company (U.S.)
- Allsteel Inc. (U.S.)
- HBF LLC (U.S.)
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Market Drivers
- Rise in Outdoor Living and Home Renovation Trends
One of the major driving factors is the global shift toward outdoor living. Consumers now treat balconies, gardens, and patios as essential parts of their homes, investing in outdoor tables to accommodate socializing, relaxation, and dining needs. According to a Home Improvement Research Institute (HIRI) study, nearly 79% of homeowners completed multiple home improvement projects in 2023 , emphasizing outdoor space upgrades.
- Innovations in Table Design and Materials
Manufacturers such as IKEA , Herman Miller , and Steelcase Inc. are introducing modular, multifunctional, and extendable outdoor tables made from sustainable and weather-resistant materials. Smart features, such as solar-powered charging , built-in lighting , and Wi-Fi capabilities , further increase product appeal and broaden consumer bases.
Market Restraints
- High Costs and Maintenance Challenges
Despite their functional benefits, outdoor tables face challenges in terms of durability and maintenance. Quality tables made of premium materials like teak , aluminum , and composites are expensive. Additionally, weather exposure may cause issues like rusting, warping, or fading. These factors make such products less appealing to price-sensitive consumers, limiting their mass-market appeal.
Market Opportunities
- Rise in Smart and Sustainable Furniture
There is increasing consumer demand for eco-friendly , modular , and smart outdoor furniture . Companies are now developing outdoor tables using recycled materials , biodegradable composites, and ethically sourced wood . In January 2025 , Barco Products launched its Outpost Wood Picnic Tables made from sustainably harvested Southern Yellow Pine , treated for rot and termite resistance—an example of how eco-conscious innovation is opening new market avenues.
Market Trends
- Growing Sustainability Focus
Manufacturers are under pressure to reduce their environmental impact. Outdoor table producers are adopting sustainable practices such as:
- Using recycled plastics and FSC-certified wood .
- Offering repairable and modular
- Minimizing manufacturing waste.
Consumers, especially in developed economies, now actively seek environmentally responsible brands, pushing sustainability to the forefront of outdoor furniture trends.
Segmentation Analysis
- By Material Type
- By End-User
- By Distribution Channel
Regional Insights
Asia Pacific: With a 2024 market size of USD 8.52 billion, Asia Pacific remains the largest regional market, led by China, which serves as a global manufacturing hub
Europe: Tourism in Europe continues to drive demand for outdoor tables in hotels, cafes, and restaurants .
North America: The North American market is evolving with demand for eco-friendly and high-end outdoor tables .
South America and Middle East & Africa: These regions are seeing rapid growth in hospitality infrastructure and e-commerce penetration , which boosts demand for outdoor furniture.
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Recent Developments:
- March 2025 – Crate & Barrel launched new outdoor and kids’ collections, diversifying their portfolio.
- January 2025 – Stanley Lifestyles announced a USD 4.7 million expansion plan in Pune, India.
The global outdoor tables market is poised for steady growth, driven by evolving lifestyle trends, rising outdoor living culture, and sustainable innovation. Asia Pacific continues to dominate manufacturing, while regions like North America and Europe focus on high-end and eco-friendly solutions. As consumers demand smarter, durable, and stylish outdoor table options, companies that combine aesthetics with functionality and sustainability will lead the next phase of market expansion.
Market Overview:
According to Fortune Business Insights, the Global Apparel Market size is projected to grow from USD 1,749.67 billion in 2024 to USD 2,307.04 billion by 2032. It was valued at USD 1,700.52 billion in 2023, exhibiting a CAGR of 3.52% over the forecast period.
The market is vast and constantly evolving, encompassing a wide range of products from everyday casual wear to luxury fashion. Shifting consumer preferences and the rise of fast fashion are key drivers of market growth. The fast fashion model—characterized by low prices and quick production turnarounds—has significantly reshaped the landscape of the clothing industry.
List of Key Players Mentioned in the Report:
- VF Corporation (U.S.)
- Burberry Group plc (U.K.)
- Puma SE (Germany)
- Adidas AG (Germany)
- Nike Inc. (U.S.)
- H&M Hennes & Mauritz AB (Sweden)
- LVMH (France)
- KERING (France)
- PVH Corp. (U.S.)
- Inditex (Spain)
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Segmentation Overview
Casual Wear/Fashion Wear Segment Dominates Due to Evolving Consumer Lifestyles
By type, the apparel market is segmented into casual wear/fashion wear, formal wear, swimwear, outerwear, sportswear & activewear, agricultural work clothing/farm apparel, work wear, ethnic wear, sleepwear, and others. Among these, the casual wear/fashion wear segment led the market in 2023. This dominance is largely driven by shifting consumer lifestyles, with an increasing emphasis on comfort, versatility, and utility in daily apparel choices.
Synthetic Material Leads Owing to Its Durable and Versatile Characteristics
Based on material, the market is classified into synthetic, cotton, wool, leather, denim, satin, and others. The synthetic segment held the largest market share in 2023. This growth can be attributed to the fiber’s durable, quick-drying, wrinkle-resistant, and easy-to-dye properties, making it a preferred choice for both manufacturers and consumers.
Women Segment to Hold the Largest Share Due to Expanding Female Fashion Industry
In terms of end-user, the market is categorized into men, women, children, and unisex. The women’s segment is expected to maintain the largest share throughout the forecast period. This is supported by growing demand in the women’s fashion industry, which offers a diverse array of clothing options including dresses, crop tops, skirts, scarves, leggings, and bralettes.
Mass Market Segment Leads with High Volume and Affordable Fashion Offerings
By category, the market is segmented into mass/economy, premium, and luxury. The mass segment emerged as the dominant category in 2023, primarily due to the high volume of garments produced in various styles and designs at accessible price points. The shorter production cycle and cost-efficiency of mass-market apparel also contribute to greater revenue generation.
Supermarkets & Hypermarkets Segment Leads Due to Personalized In-Store Experience
Regarding distribution channel, the market is divided into supermarkets & hypermarkets, specialty stores/branded stores, department stores, online/e-commerce, and others. In 2023, supermarkets & hypermarkets held the leading position, driven by the personalized and face-to-face shopping experiences these brick-and-mortar stores offer, which continue to appeal to a broad consumer base.
Report Coverage
The report encompasses various driving and restraining factors affecting the market growth. In addition, it provides comprehensive coverage of the top trends, the COVID-19 pandemic impact, and significant industry developments. Other aspects of the report include the strategic moves adopted by top players to reinforce their industry position.
Drivers and Restraints:
Sustainability and Technological and Manufacturing Advancements to Propel Market Growth
Leading production companies are investing in cutting-edge technology to develop novel fabrics. This new-age fabric is developed in a way, which will influence customer’s purchasing patterns. A well-known example of this innovation is Nike’s Aerogami that improves breathability of athletes.
Despite such opportunities for apparel market growth, the rising competition from local brands focusing on affordable pricing may hamper the expansion of international companies.
Regional Insights:
Asia Pacific Holds Leading Position Due to Rising Disposable Income
Asia Pacific registered the largest market share in 2023, which can be attributed to the surging middle-class population, number of working women professionals, participation of people in sports and other outdoor activities, and disposable income. The adoption of online shopping by a considerable number of young people is further resulting in a substantial surge in sales of garments by leading players including Shopee, Lazada, and Tokopedia.
Europe is witnessing rapid growth on account of transition in fashion trends, innovation in design and manufacturing techniques, growing e-commerce channels, and rising emphasis on sustainability.
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Competitive Landscape:
Major Companies Deploy Partnerships to Boost Their Position
The apparel market has a high fragmentation and competition, with the presence of a huge number of international and domestic companies. Market players are adopting various strategies such as acquisitions, product innovations, and capacity expansions. Partnership strategies are also being implemented by top companies to strengthen their position.
Key Industry Development:
February 2024: PUMA and PLEASURES unveiled the continuation of a collaborative deal with a new collection launch. Through this deal, the company announced the extension of its initial seasonal offering from 2023.
Market Overview:
According to Fortune Business Insights Global Quick Commerce Market size hit USD 170.80 billion in 2024. The market is slated to rise from USD 184.55 billion in 2025 to USD 337.59 billion by 2032, exhibiting a CAGR of 9.01% over the forecast period.
Quick commerce refers to the delivery of high-demand products such as ready-to-eat meals, groceries, and personal care items, in under 30 minutes. The debut of advanced technologies, such as real-time inventory management and AI-powered route optimization, in this sector is anticipated to provide new growth opportunities to industry players.
Competitive Landscape:
Leading Corporations to Gain Edge via Merger and Acquisition Strategies
The market is fiercely competitive, with both global and regional players fighting to gain a substantial share. Acquisitions and mergers can be observed throughout the global market which has helped leading companies to be a key differentiator. Moreover, industry participants are also gaining huge funding to cement their position in the regional market.
List of Key Players Mentioned in the Report:
- Getir (Turkey)
- Blinkit (India)
- GoPuff (U.S.)
- Flink (Germany)
- Swiggy Instamart (India)
- Zapp (U.K.)
- Dunzo (India)
- Glovo (Spain)
- Zepto (India)
- JOKR (U.S.)
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Segmentation:
Cashless Segment Held Key Share in 2024 Owing to Escalation in Digital Transactions
Based on mode of payment, the market is subdivided into cashless payments and cash on delivery. In 2024, the cashless segment recorded a leading market share and is anticipated to dominate the global market over the projection period. The rise in digital transactions with a surge in the numerous modes of cashless payments, including debit cards, credit cards, UPI apps, internet banking, and mobile banking, is anticipated to propel segmental expansion.
Grocery Segment Registered Prominent Market Share Driven by Reliance of Urban Consumers on Quick Home Delivery
On the basis of product, the market is categorized into groceries, beauty & personal care, fresh food & beverages, electronics & toys, and others. The grocery segment accounted for a dominating quick commerce market share in 2024 considering the reliance of urban consumers on quick home delivery for last-minute requirements.
Mobile Application Segment Garnered Major Share Fostered by High Smartphone Penetration
By channel type, the market is fragmented into web portals and mobile applications. In 2024, the mobile application segment registered a key market share impelled by easy internet accessibility and high smartphone penetration.
Based on geography, the market has been studied across North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage:
The report presents an analysis of the quick commerce industry based on mode of payment, product, channel type, and region. It further gives an account of the major steps adopted by leading companies to strengthen their market positions. The key factors set to drive market expansion and the prominent industry trends have also been mentioned in the report.
Drivers and Restraints:
Surging Consumer Demand for Speed and Convenience to Propel Industry Expansion
The escalation of working professionals, busy lifestyles, and an increase in urbanization are poised to drive the demand for convenient and faster product delivery. The model is suitable for people in urban areas. Furthermore, these companies provide discounts that cannot be matched by offline stores. The consumer demand for speedy product delivery is anticipated to drive quick commerce market growth.
Nevertheless, the high costs of operating these companies may create challenges for industry expansion.
Regional Insights:
North America Held Key Share Fueled by Mounting for Rapid Delivery of Household Essentials
In 2024, North America recorded a dominant share owing to the rising demand for the ultra-fast delivery of household essentials, groceries, and convenience items. The regional market is characterized by an emphasis on urban areas, technology integration, a wide range of product categories, and strategically located dark stores.
The Asia Pacific quick commerce market is slated to depict the highest CAGR over the analysis period driven by the escalated usage of digital wallets and the high penetration of smartphones. Besides, the region exhibits surging urbanization and high population density.
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Key Industry Development:
September 2024 – Flink raised a funding of USD 150 million intending to double its business in the Netherlands and Germany in collaboration with Just Eat Takeaway. The investors of the funding comprise Mubadala, BOND, Northzone, REWE, and two others.
The global pet services market size was valued at USD 43.39 billion in 2024. The market is projected to grow from USD 45.58 billion in 2025 to USD 66.23 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.48% during the forecast period.
Fortune Business Insights has released its latest research report titled “ Pet Services Market : 2025 Analysis and Forecast to 2032,” offering an in-depth assessment of industry size, share, growth trends, segmentation, key manufacturers, recent developments, major trends, market drivers, challenges, regulatory landscape, distribution channels, opportunities, strategies, and potential growth roadmaps.
Top Key Players in The Industry
- Destination Pet
- Pet Paradise
- Pet Resorts Australia
- CVS Group
- Camp Bow Wow
- Walmart
- Paws & Collars
- Wag Hotels
- Fetch! Pet Care
- Paw Space
- Others
Reasons to Buy This Report:
- Detailed analysis of factors, barriers, opportunities and challenges affecting market growth.
- Monitoring important developments in the industry such as new product launches, agreements, mergers and acquisitions, geographic expansions and joint ventures.
- Identifying the restraining and strengthening factors in the market.
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Comprehensive Overview of the Global Pet Services Market
This report provides an in-depth analysis of the global Pet Services market. It includes quantitative and qualitative analysis by manufacturer, region, country, type, and application. In line with the ever-changing market dynamics, the report covers the competitive landscape, supply and demand trends, and key factors driving the changing demands in the industry.
Introduction to Marketing Framework:
- Marketing Strategy and Implementation Steps
- Evaluation of market development with development trends, competition analysis, supply-demand balance, annual growth rates, competition comparisons, supplier profiles, CMI quadrant and other important analyses
- Presentation of regional and country-based special reports depending on demand
Analysis of fast-growing regions and potential and niche segments Analysis of market size (historical data and forecasts), Total Addressable Market (TAM), Serviceable Current Market (SAM), Serviceable Available Market (SOM), market dynamics, technological developments, competition landscape and leading players (innovators, new ventures, market followers and leaders)
Key Questions:
- How are sales, production, consumption, import and export trends shaped in the global market (North America, Europe, Asia-Pacific, South America, Middle East and Africa)?
- Who are the leading manufacturers in the sector?
- What are the current capacity, production volume, sales performance, pricing, policies, costs, gross profit rate and revenue levels?
- What are the major risks and opportunities faced by the market?
Key Offerings:
• Market Size, Trends and Revenue-Based Forecasts
• Market Dynamics – Leading Trends, Growth Drivers, Barriers and Investment Opportunities
• Market Segmentation – Detailed Analysis by Low-Floor Light Rail Vehicles, High-Floor Light Rail Vehicles, Urban Light Rail Vehicles, Connected Cities and Regions
• Competitive Landscape – Leading Suppliers and Other Key Players
To get to know more about this market, please visit:
https://www.fortunebusinessinsights.com/pet-services-market-112460
This research report serves as a valuable resource for stakeholders looking to make informed decisions and capitalize on growth opportunities within [sector/industry]. By understanding market trends and consumer behavior, businesses can adapt their strategies to drive innovation and ensure sustainable growth.
Key Industry Development:
- October 2024 : Walmart, a U.S.-based retail corporation, launched its three new pet services centers in Glendale, Chandler, and Mesa across Arizona, U.S. According to the company, the new centers would offer various pet services, including grooming (baths, nail trims, teeth cleaning, ear cleaning & basic hair trims).
