Market Overview:

According to Fortune Business Insights Global   Mattress Market   is projected to grow from USD 57.51 billion in 2025 to USD 91.23 billion by 2032, registering a CAGR of 6.82% during the forecast period. In 2024, the market size was valued at USD 54.75 billion. 

The rising demand for customized and luxury mattresses reflects a significant shift in consumer perception—mattresses are no longer seen merely as functional consumer durables but also as symbols of social status. Additionally, the growing presence of domestic manufacturers offering diverse product ranges is capturing consumer interest and strengthening distribution networks globally. The successful launch of new and innovative products is further expected to accelerate the growth of the mattress market during the forecast period.

List of Key Players Mentioned in the Report:

• Serta Simmons Bedding, LLC (U.S.)
• Tempur Sealy International, Inc. (U.S.)
• Sleep Number Corporation (U.S.)
• Paramount Bed Holdings Co. Ltd (Japan)
• Kingsdown, Inc. (U.S.)
• Grupo Pikolin (Spain)
• King Koil Mattress. Co (U.S.)
• Suibao Group (China)
• Greiner AG (Austria)
• Sheela Foam Ltd (India)

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Segmentation:

Material:
The market is segmented into foam, spring/coil, latex, and others based on material type. The spring/coil segment is expected to register significant growth from 2023 to 2030, driven by the enduring preference for traditional innerspring products. These mattresses, made using metal springs, offer a sturdy support layer that enhances user comfort and remains a trusted choice among consumers.

Size:
By size, the market is categorized into queen, full, twin, and others. Queen-size mattresses dominate global demand, as they offer ample space for two individuals and are commonly used in master bedrooms. Studies indicate that approximately 61% of surveyed consumers prefer sleeping on a queen-size mattress, followed by single, double, king, and other sizes.

Application:
On the basis of application, the market is divided into households, hospitality facilities, healthcare facilities, and others. The hospitality segment is poised for strong growth, fueled by the expansion of global tourism and the rising number of accommodation establishments. The increasing demand for quality mattresses in hotels and resorts is expected to positively influence market growth.

Report Coverage:

The report offers:

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Recent industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers and Restraints:

Increasing the Number of Housing Units to Boost Market Expansion

The rising number of housing constructions globally paired with an increasing number of consumer spending on furniture and bedding products. The rising number of single-occupancy homes and inclination towards nuclear families worldwide creates a need for a spacious separate room for every family member across countries hence propelling the product demand and mattress market share.

However, high circulation of unbranded/ low-cost products, most notably across Asian markets, is hampering the global demand for branded, high-end, and luxury products.

Regional Insights:

Luxury and Premium Quality Products to Propel the Market Growth

The North American market is preferred for luxury and premium quality products. North America appeared as the largest market in 2022. An average North American consumer typically buys a mattress if the existing one doesn’t provide the consumer with a comfort level.

The market in Europe benefits from the rapidly rising travel & tourism industry. In this respect, rising tourism and tourist attractions across European countries facilitate product demand in the hospitality sector.

Asia Pacific is predicted to record the fastest CAGR during the forecast period. The region's market size is growing to increase housing units across India and China.  

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Competitive Landscape:

Market Players Focus on New Product Launches to Strengthen Market Position

Leading market players are trying to expand their market reach by offering solutions tailored to their respective industries. These players strategically collaborate with and take over local competitors to establish a regional foothold. These companies focus on developing innovative products and efficient marketing techniques to gain a wider market share.

Key Industry Development:

• November 2023 - Serta Simmons Bedding LLC, a U.S.-based company, opened its new state-of-the-art manufacturing plant in Wisconsin for mattress and other bedding products production.

Market Overview:

According to Fortune Business Insights Global  Footwear Market  size was valued at USD 463.87 billion in 2024 and is expected to be worth USD 495.46 billion in 2025. The market is projected to reach USD 789.52 billion by 2032, recording a CAGR of 6.88% during the forecast period.

The global footwear market includes a wide range of products, such as boots, sandals, shoes, and slippers. These items are available in diverse designs, colors, and materials, enhancing their appeal among consumers. Key factors fueling market growth include rising disposable incomes, increasing demand for premium and high-quality footwear, rapid urbanization, and shifting consumer lifestyles.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Nike, Inc. (U.S.)
• Adidas AG (Germany)
• Skechers (U.S.)
• Puma SE (Germany)
• Under Armour (U.S.)
• Crocs, Inc. (U.S.)
• Geox (Italy)
• ECCO Sko A/S (Denmark)
• New Balance (U.S.)
• Relaxo Footwears Limited (India)

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Segmentation:

Casual Segment Captured Dominant Share Driven by Their Ease and Suitability Factors

In terms of type, the market is segmented into casual, athletic/sports, formal, and others. The casual segment captured the dominant global footwear market share in 2024, driven by its comfort and suitability factors. Casual footgear is available in various designs and aligns with the latest fashion trends.

Men Segment Led Market Owing to Rise in Fashion Consciousness and High Interest in Sports Activities

In terms of end user, the global market is segmented into men, women, and kids. The men segment held the leading position in the global market. The segment’s growth can be attributed to the surge in fashion awareness in the male population and their high interest in sports activities such as cricket and football.

Supermarket/Hypermarket Segment Led Market Owing to Wide Availability of Diverse Array of Brands

In terms of distribution channels, the market is categorized into supermarkets/hypermarkets, specialty stores, online/e-commerce, and others. The supermarket/hypermarket segment led the market owing to the wide availability of a diverse array of footwear brands. They also provide an extensive variety of footgear at affordable prices and offer promotional discounts, increasing consumer interest in them.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

This report presents an in-depth analysis of the global footwear market, examining key aspects such as major product types, distribution channels, end-user segments, and prominent market players. It also highlights the latest market trends and significant industry developments. In addition to these areas, the report provides insights into various other factors that have contributed to the market’s growth.

Drivers and Restraints:

High Participation in Sports and Focus on Sustainability to Spur Market Growth

The high inclination of consumers toward sports activities, such as football and cricket, for physical health benefits and fitness or enjoyment purposes propels the demand for sports shoes. The increasing participation of people in different sports events and tournaments is fueling further product demand. Consumer knowledge of the environmental impact is resulting in a surge in their interest in sustainable products manufactured from materials such as organic cotton and recyclable plastic. The top players are actively focusing on increasing their production of sustainable footgear.

However, the imposition of different regulations and policies on sales and production of footgear is expected to limit footwear market growth.

Regional Insights:

Presence of Leading Footwear Producers Helps Asia Pacific to Dominate Market

Asia Pacific emerged as the dominant region in the global market in 2024. The region’s growth is fueled by the presence of countries such as China and India, which are the leading producers of footwear around the globe. The rapid expansion of the e-commerce sector, driven by heightened internet accessibility in the region, further drives the market growth in the region.

North America registers the second largest market share, driven by the presence of several tech-savvy consumers, driving demand for smart footgear equipped with cutting-edge features such as smartphone connectivity and built-in GPS. The U.S. leads the North American market, fueled by the increasing consumer involvement in sports activities, such as football and hockey, propelling demand for shoes.

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Competitive Landscape:

Leading Players Focus on Cutting-Edge and Unique Footgear Development to Strengthen Their Market Positions

Intense competition comprising mid-scale, large-scale, premium, and local brands characterizes the global market. These brands are incorporating various strategic initiatives such as collaboration, production expansion, and marketing to strengthen their market positions. The leading players are focusing on cutting-edge and unique footgear development with features such as 3D printing.

Notable Industry Development:

May 2024:  Skechers, an American brand of footgear and apparel, launched its new store in Prague. The store is located in High Street Na Príkope and offers products such as footgear, accessories, and apparel.

Market Overview

According to Fortune Business Insights   Jewelry Market   size was valued at USD 216.48 billion in 2022 and is projected to reach a valuation of USD 224.38 billion in 2023. The market is expected to reach USD 308.36 billion by 2030 with a CAGR of 4.6% during the forecast period. The rising trend for increased consumption of jewels is attributed to the fact that people are getting inclined toward luxurious products. The growing popularity to incorporate technology in ornaments is boosting product demand. With increasing levels of disposable income levels, spending of consumers has been on the rise.

List of Key Players Profiled in the Report

• Harry Winston, Inc. (U.S.)
• Chopard (Switzerland)
• Pandora Jewelry, LLC. (U.S.)
• Chow Tai Fook Jewellery Company Limited (Hong Kong)
• Tiffany & Co   (U.S.)
• Rajesh Exports Ltd (India)
• Cartier International SNC (France)
• Signet Jewelers Limited (Bermuda)
• Chanel (France)
• LVMH Moët Hennessy (France)

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Segments

Ring Segment   to Dictate as it Symbolizes Marital Status

On the basis of product, the market is segmented into necklace, earrings, ring, bracelet, and others. The ring segment is set to lead due to rising popularity as it signifies engagement and marital status. Growing customer preference for personalized jewels has stimulated vendors to provide various customization options. Earrings, necklaces, bracelets, and others have also been on rise owing to their usage for beautification and enhancement of looks.

Diamond   to Govern Due to its Various Benefits 

Based on material type, the market is categorized into gold, platinum, diamond, and others. Diamond is anticipated to dominate the market due to its sparkle and reflection. Various celebrities such as Jennifer Lopez, Lady Gaga, Gal Gadot, Rosie Huntington, Celine Dion, Naomi Campbell, Demi Moore, and many others donned diamond and platinum jewels at the Met Gala event of 2019.    

Women Segment   to Lead Due to   Rising Use of Jewels

On the basis of end-user, the market is categorized into men and women. Women segment holds the majority part as the women population uses jewels more due to its symbolization of femininity. Men segment is also anticipated to show favorable growth as they want to own the product as a symbol to showcase their high status, unique styles, and fashion sense.   

Based on geography, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Drivers and Restraints

Increasing Levels of Disposable Income and Spending of Consumers   to Augment Market Growth

Increasing levels of disposable income and rising spending of consumers are anticipated to drive the jewelry market growth. The demand for increasing consumption of luxury goods such as ornaments is propelling the market growth. Additionally, different customs regarding the adoption of ornaments followed by people across the globe are expected to significantly boost the purchase of the product. Increasing number of working populace of women and awareness about modern jewels and premium-class gems will further fuel the market growth.

However, strict regulations on importing and exporting ornament are expected to hamper the market growth.

Regional Insights

Asia Pacific to Govern Owing to the   Presence of Major Market Players in the Region

Asia Pacific is expected to have the largest jewelry market share owing to the presence of major players in the region. Tanishq, Malabar Gold and Diamonds, Queelin, Wallace Chan, and others mark their presence in Asia Pacific owing to increasing consumption.

Europe is anticipated to have a substantial growth in the forecast period due to high per capita income in European countries. People have been spending high on ornaments due to high income levels. 

North America has moderate growth due to the presence of many millionaires who are the prime contributors to the increasing purchase of luxurious products .

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Competitive Landscape

RJ Scanlan & Co. Expanded its Fine Jewelry Offering by Introducing a Range of Lux Collection

Key market players have been focusing on looks and design of jewels to meet consumers' ever-changing needs and desires. In June 2021, RJ Scanlan & Co. expanded its fine jewelry offering by introducing a range of the Lux Collection in the Australia market. The collection is crafted with gold, diamonds, color gemstones, and pearls. Every piece is customized to order and essential to environmental sustainability.

Key Industry Development

• January 2023-   Tanishq entered the U.S. market by opening its first store in New Jersey. The store has about 6,500 jewelry designs in 18 and 22-karat gold and diamond.

Market Overview:

According to Fortune Business Insights U.S. is the largest market for cosmetic products globally. The  U.S. cosmetics market  size is projected to record 6.01% CAGR during the forecast period. The global market is estimated to grow from USD 335.95 billion in 2024 to USD 556.21 billion by 2032.

Consumers are increasingly turning to cosmetic products as they become more conscious of the importance of grooming and maintaining good skin hygiene. Skincare solutions and cosmetics are gaining notable traction among male consumers as well, with more men adopting structured grooming routines. Additionally, the rising percentage of working women globally has contributed to higher spending on luxury cosmetic brands. At the same time, growing environmental awareness is driving consumers to seek products with a lower carbon footprint. In response, companies are making significant investments in sustainable and eco-friendly packaging. These trends are expected to drive the growth of the U.S. cosmetics market in the years ahead.

LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT

• L’Oréal Professional (France)
• Unilever (U.K.)
• Procter & Gamble (U.S.)
• Henkel AG & Co. KgaA (Germany)
• Revlon, Inc. (U.S.)
• Shiseido Co., Ltd. (Japan)
• Coty Inc. (U.S.)
• Natura & Co. (Brazil)
• Kao Corporation (Japan)
• Revlon, Inc. (U.S.)

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In terms of category, the market is divided into hair care, skin care, makeup, and others.

Based on gender, the market is bifurcated into men and women.

In terms of distribution channel, the market is segmented into specialty stores, hypermarkets/supermarkets, online channels, and others.

Report Coverage:

The report offers quantitative and qualitative insights into the industry and an elaborate analysis of the U.S. market size & growth rate for all possible segments in the market. This report also gives a deeper understanding of the competitive landscape, market dynamics, and the industry forecast. Many valuable insights presented in this report are an overview of price analysis of types of products, number of procedures, pipeline analysis, regulatory scenario in key countries, new product launches, key industry developments – mergers, acquisitions & partnerships, and the effect of COVID-19 on the industry.

Drivers and Restraints:

Growing Usage of Social Media Platforms to Spur Product Sales

The young population in the U.S. has completely transformed the cosmetics & personal care sector as they are getting heavily influenced by social media platforms and want to create looks that are trending. They are also looking for smart ways to enhance their appearance, which is expected to further boost the market growth. Many beauty brands are also using advanced technologies to transform the way cosmetics are used. This has given rise to newer makeup trends, causing a major shift in young customers’ buying patterns.

However, prolonged usage of synthetic makeup products carries the risk of creating skin problems, which can hamper the market growth.

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Competitive Landscape:

The key players accounting for a sizable U.S. cosmetics market share include Kao Corporation, P&G, L'Oréal S.A., Revlon, Inc., the Estée Lauder Companies, and Coty Inc. These organizations are investing a lot of money in their R&D activities and programs to make innovative cosmetic products and gain a competitive edge in the market. They are also initiating promotional events and campaigns to improve their brand value and exhibit their product ranges to expand their customer base.

Key Industry Development:

November 2022:  Avon collaborated with Perfect Corp. to create and introduce a virtual try-on online shopping experience for its customers. Through this launch, consumers can try a wide range of makeup products over online portals using the AI-based power technology developed by Perfect Corp.

Market Overview:

According to Fortune Business Insights Global   Power Bank Market   size was valued at USD 14.74 billion in 2024. The market is projected to grow from USD 15.56 billion in 2025 to USD 23.64 billion by 2032, exhibiting a CAGR of 6.15% during the forecast period.

The global power bank market has witnessed substantial growth in recent years, driven by the rising adoption of smartphones, tablets, wearables, and other portable electronic devices that require reliable charging solutions. Power banks, with their compact design, universal compatibility, and evolving features such as fast charging and wireless charging, have become essential accessories for modern consumers. The growing demand for on-the-go charging solutions, especially among travelers, gamers, and remote workers, is fueling market expansion globally.

Market Trends
The power bank market is evolving rapidly, influenced by consumer preferences and technological advancements. One of the key trends is the growing popularity of   wireless and fast-charging power banks , offering greater convenience and efficiency. There is also a surge in demand for   high-capacity models (20,000 mAh and above)   that can charge multiple devices simultaneously. The integration of   solar-powered and eco-friendly designs   reflects rising environmental awareness among consumers. Additionally, manufacturers are increasingly leveraging   social media advertising   to enhance brand visibility and engage directly with their target audience. The trend towards   compact, lightweight, and stylish designs   further caters to the lifestyle needs of modern users, particularly in urban and developing markets.

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Regional Insights:

• Asia Pacific   led the market in 2024 with a   89% share , driven by rising smartphone adoption, mobile gaming, and internet penetration.
• North America   and   Europe   are set to witness robust growth due to the surge in outdoor activities, mobile gaming, and wearable tech adoption.

Top Growth Drivers:
Rising smartphone and tablet adoption globally
Growth in outdoor and adventure activities
Advancements in wireless charging & high-capacity batteries

Why Read This Report?
This report provides valuable insights into the   competitive landscape, key industry developments, market dynamics, trends, and growth opportunities   shaping the future of the power bank market. It is a must-read for stakeholders, investors, and businesses looking to stay ahead in this evolving sector.

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KEY INDUSTRY DEVELOPMENTS
December 2024 -  Stuffcool, an India-based manufacturer of consumer electronic products, announced the launch of Roam Power Bank. This product is 11cm tall and 7cm wide, and it has a 10,000 mAh battery capacity with a Type-C 20W PD port.

December 2024 -  Xiaomi, a China-based consumer electronics manufacturer, announced the launch of an 18W power bank with a battery capacity of 30,000 mAh in the European market. The product can charge three devices simultaneously via USB-A and USB-C ports.

Market Overview:

According to Fortune Business Insights  North America cosmetics market  size is projected to record a CAGR of 3.8% during the forecast period of 2023-2030.

North America is experiencing strong growth in the adoption of diverse cosmetic products as consumers seek to enhance their physical appearance. This rising demand has encouraged leading market players to significantly increase investments in research and development to introduce innovative and advanced cosmetic solutions. For instance, in October 2022, L'Oréal U.S.A. announced an investment of USD 140 million to establish a 250,000-square-foot research and innovation center in Newark, New Jersey. The facility will focus on cutting-edge research in areas such as beauty technology and green science, driving advancements across hair, skin, and beauty product lines. With the growing consumer interest in anti-aging solutions to combat early signs of aging, companies are developing new technologies and formulations to meet this demand. These factors are expected to accelerate the growth of the North America cosmetics market.

LIST OF LEADING ORGANIZATIONS PROFILED IN THE REPORT

• L'Oréal S.A. (France)
• Unilever plc (U.K.)
• The Procter & Gamble Company (U.S.)
• The Estée Lauder Companies Inc. (U.S.)
• Beiersdorf AG (Germany)
• Shiseido Co., Ltd. (Japan)
• Coty Inc. (U.S.)
• Kao Corporation (Japan)
• Johnson & Johnson Services, Inc. (U.S.)
• Amorepacific Corporation (South Korea)

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Segments:

In terms of category, the market is divided into hair care, skin care, makeup, and others.

Based on gender, the market is bifurcated into men and women.

In terms of distribution channel, the market is segmented into specialty stores, hypermarkets/supermarkets, online channels, and others.

This report on the North America cosmetics market covers the following countries/regions – the U.S., Canada, and Mexico.

Report Coverage:

The report offers a wide range of qualitative and quantitative insights about the industry. The report also provides a detailed analysis of the regional market size & growth rate for all possible segments in the industry. It expands on the most recent market trends & dynamics, competitive landscape, and forecast. Various top insights are displayed in the report including new product launches, an overview of the regulatory scenario in key countries, top industry developments – mergers, acquisitions & partnerships, and the effect of COVID-19 on the market.

Drivers and Restraints:

Greater Focus on R&D by Key Market Players to Accelerate Market Growth

More companies are increasing their focus on R&D programs and activities to speed up the production of a wide variety of new cosmetic products. Many manufacturers are developing products, such as creams, lotions, and gels, that are compatible with their customers’ hair and skin, thereby augmenting the market progress in the coming years. More men and women are purchasing skincare and makeup products, further accelerating the market development.

However, the high costs associated with cosmetic products and their adverse side effects are expected to restrain the market growth during the forecast period.

Competitive Landscape:

L’Oréal S.A., the Estée Lauder Companies Inc., Procter & Gamble Co., Unilever, Kao Corporation, Johnson & Johnson, Inc., Beiersdorf AG, Coty Inc., and Shiseido Co., Ltd. are the top participants in the North America market. These companies are increasing their investments in research & development programs to speed up the process of launching new products and receiving approvals for these solutions. They are also focusing on expanding their distribution networks and product portfolios to solidify their position in the market. These firms are entering strategic collaborations and partnerships to expand their regional presence and increase their North America cosmetics market share.

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Key Industry Development:

February 2023:  Sephora Canada announced the rollout of DTC beauty brand Glossier’s products. The Glossier lineup of products includes makeup, skincare, and fragrances available online on Sephora.ca, the Sephora App, and offline channels. Glossier also opened its 7,000 sq. ft. flagship store in Manhattan in SoHo’s Spring Street, New York.

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 scope of the market encompasses a comprehensive analysis of the industry across various dimensions, including product categories, key applications, consumer segments, and regional dynamics. It includes both qualitative and quantitative insights into market trends, growth drivers, challenges, and opportunities from a global and regional perspective. The market scope also covers developments in technology, competitive landscape, supply chain analysis, and regulatory frameworks that influence the market trajectory. This evaluation provides a detailed outlook for stakeholders, including manufacturers, investors, and policymakers, helping them make informed decisions and strategic plans for future growth.

Regional Insights:

Europe Dominate the Market Owing to Growing Number of Corporate Events

Europe leads the global MICE market due to the growing number of corporate events and exhibitions. The region emphasizes sustainable tourism, with two-thirds of industry players integrating Corporate Sustainable Responsibility (CSR) into their programs. Germany and the U.K. lead the market with high corporate event activity.

Driven by sectors such as advanced manufacturing and financial services, North America captures the key share of the market with top-tier cities such as Toronto and Las Vegas offering world-class venues. Luxury event services, exemplified by Vancouver’s Shangri-La and Fairmont Hotel, enhance the region's appeal for high-end 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.

Market   Overview:

According to Fortune Business Insights Global   Streetwear Market   size is projected to grow from USD 347.14 billion in 2024 to USD 637.13 billion by 2032. It was valued at USD 325.28 billion in 2023, exhibiting a CAGR of 7.89% during the forecast period. 

Streetwear, a fashion trend rooted in the cultural aesthetics of youth subcultures, has become a distinct style. It is popular for its vibrant colors, bold logo graphics, and unconventional designs. It also encompasses different products, such as oversized tees, streetwear hoodies, streetwear jeans, beanies, snapbacks, and sneakers. The increasing disposable incomes and consumer spending on fashion are expected to drive the growth of the global market.

The COVID-19 pandemic negatively impacted product sales across various countries, notably throughout 2020. The government-imposed lockdowns disrupted the supply chains, thereby impacting product distribution.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Nike (U.S)
• Supreme (U.S.)
• Stussy (U.S.)
• BAPE (Japan)
• Adidas (Germany)
• Off-White (Italy)
• Vetements (Switzerland)
• Palace (U.K.)
• RoaringWild (China)
• Undercover (Japan)

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Segmentation:

Clothing Segment Dominated Market Due to Increasing Celebrities’ Collaboration

Based on product, the market is segmented into clothing, footwear, accessories, and others. The clothing segment held the largest market share in 2023. This dominance can be attributed to the wide product availability and increasing collaborations among brands and influencers.

Men Segment Dominated Market Due to Growing Appearance Consciousness among Men

Based on end user, the market is segmented into men and women. The men's segment accounted for the largest market share in 2023. This growth can be attributed to the wide product availability, rising purchasing power, and increasing consciousness about appearance among men.

Offline   Stores Segment Dominated Market Due to Increasing Number of Retail Stores Worldwide

Based on distribution channel, the market is segmented into offline stores and online stores. The offline segment led the global streetwear market share in 2023 due to the surge in the network of retail stores across the world.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, products, end users, distribution channels, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

Drivers and Restraints:

Increasing Sales of Sustainable Products to Drive Market Growth

The rising environmental consciousness has led to the increasing popularity of environmentally friendly products among customers. Customers opt for brands committed to environmental sustainability as they are more ecologically conscious. Additionally, the growing demand for eco-friendly products among eco-conscious consumers contributes to the need for sustainable products. Also, several international players are introducing sustainable products to meet the increasing demand for sustainable clothing.

However, the streetwear market growth is expected to be constrained by the increasing availability of counterfeit casual clothing.

Regional Insights:

Asia Pacific Dominated Market Due to Increasing Urbanization and Rapid Growth in Young Population

Asia Pacific accounted for the largest market share in 2023 and is expected to maintain its dominance during the forecast period. This growth can be attributed to increasing urbanization and rapid growth in the young population. The surge in the number of homegrown brands in the region that provide street culture and subculture-inspired products, such as hip-hop, street art, and skateboarding will contribute to the region’s market growth.

North America is poised to experience considerable growth during the forecast period due to the strong presence of leading players in the region. North America’s different street culture scenes, such as hip-hop, skateboarding, and graffiti will fuel the demand for the product, thereby driving the region’s market growth.

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Competitive Landscape:

Companies to Focus On Innovative Technologies to Stay Competitive

The leading companies operating in streetwear market are increasing their focus on implementing various strategies to tackle the growing presence of counterfeit products. They are launching security labels that allow consumers to authenticate their purchases. They are also introducing innovative products and establishing strategic partnerships with other firms to strengthen their market position and remain competitive.

Notable Industry Development:

November 2023:   Lemon Lilt launched itself in India as a novel streetwear-inspired brand. According to the company, its first product will include graphic T-shirts.