SAN FRANCISCO, July 3, 2024 /PRNewswire/ -- The consumer goods
industry was over US$ 2 trillion in
2023, as analyzed and reported in Horizon Databook by Grand View
Research. Horizon explores the industry in detail by exploring over
1500 markets at regional and global levels. Following are the top
10 consumer goods industry trends spanned across broad markets,
such as homecare & décor and household goods (including
electronics & appliances), beauty & personal care, and
fashion products (including apparel, footwear, and
accessories):
- In FY2023, the global beauty and personal care products
market was valued at USD 520.3
billion in 2022, and it is expected to grow at a CAGR of
7.6% from 2023 to 2030. The skincare segment constituted a revenue
share of 33.7% within this industry in 2023.
- The furniture market was valued at USD 677.09 billion in 2022 and is expected to
grow at a 5.9% CAGR from 2023 to 2030. The bedroom furniture
category accounted for 25% of the global revenue within this market
during 2022.
- In 2023, the global cookware market was valued at
USD 30.59 billion in 2023, and it is
anticipated to grow at 7.2% CAGR from 2024 to 2030. Non-stick
cookware held a 61.80% market share in 2023, offering advantages
such as ease of maintenance, minimal need for cooking fats, and
excellent food release capabilities.
- The leather goods market in Europe was estimated at USD 81.12 billion in 2023 and is expected to grow
at a 7.3% CAGR from 2024 to 2030. The polyurethane leather goods
segment accounted for 62.34% of the European market revenue in
2023. Rising demand from developing and developed regional
economies is expected to drive the growth of this segment. The
European synthetic leather footwear market constituted a revenue
share of over 38.22% in 2023, primarily driven by men's inclination
toward outdoor activities.
- The global apparel market was estimated at USD 1,709.76 billion in 2023, and it is projected
to grow at a 4.1% CAGR from 2024 to 2030. The Asia Pacific region accounted for 40.11% of
the global apparel market revenue 2023. Consumer spending on
clothing is witnessing significant growth in Asia, and digital solutions are rapidly
gaining traction in this market.
- In 2023, the global luxury goods market was estimated at
USD 366.23 billion, and it is
expected to grow at a 6.8% CAGR from 2024 to 2030. Increasing
disposable incomes and in developing region is driving the product
demand. The rising demand from younger consumers such as
millennials and Generation Zs, is fuelling the market growth.
- The global jewelry market was valued at USD 353.26 billion in 2023, and it is forecasted
to grow at a 4.5% CAGR from 2024 to 2030. The gold jewelry segment
held the largest share of 54.8% in 2023, as gold is the most
popular metal used in the production of all types of jewelry
worldwide.
- In 2023, the global dietary supplements market was
valued at USD 177 billion, and it is
projected to reach USD 327.42 billion
by the year 2030. Increasing consumer awareness about the benefits
of nutraceutical products is expected to drive demand during the
forecast period.
- The global fruits and vegetables market was valued at
USD 733.87 billion in 2023, and it is
projected to expand at a 5.0% CAGR from 2024 to 2030. The fruits
and vegetables market in the U.S. is projected to grow at a CAGR of
5.2% from 2024 to 2030. This growth is fueled by the growing
consumer demand for fresh, healthy food choices and the growing
awareness of the benefits of nutritious diets.
- In 2022, the global non-alcoholic beverages market size
was estimated at USD 1,152 million,
and it is forecasted to grow at a CAGR of 7.1% from 2023 to 2030.
The consumers are accepting no-alcohol and low-alcohol categories.
In response to this the key players are creating innovative
products, which is likely to bode well for future growth.
- The global tobacco market size was valued at USD 886.09 billion in 2023, and it is expected to
grow at a 2.5% CAGR from 2024 to 2030 due to rising tobacco
consumption in the developing regions of Asia and Africa.
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