The global garment steamer industry is witnessing a significant rise in demand among professional and residential users globally.
According to the latest Arizton's market research report, the garment steamer market size to cross USD 2.4 billion by 2025, growing at a CAGR of 5% during the forecast period.
Garment Steamer Market Growth
The global garment steamer industry is witnessing a significant rise in demand among professional and residential users globally. The rise in demand among residential users is driven by increased GDP and the growth of the residential housing market across the globe. Changing lifestyles and increasing availability of these products via various online channels are anticipated to create new avenues for the high-end maintenance of garments, fueling the demand for garment steamers in the market. The use of garment care products is increasing by various promotions and advertisements, thereby creating awareness among the consumers about the benefits of garment steamers.
Increasing Marketing and Promotional Activities
Marketing plays a pivotal role in product development by providing relevant information, thereby enhancing product positioning decisions as well. With the increasing financial burden for developing newer products as well as gaining regulatory approval for the usage of the same, the suppliers are focusing on introducing creative marketing techniques for driving changes in the product mix. One of the most important strategies is to create strong cooperation between different stages of the product lifecycle such as product development, branding, sales, and marketing.
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- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product, application, model type, pricing type, distribution channels, and geography
- Competitive Landscape –4 Key Vendors and 31 Other Prominent Vendors
Read: Compression Garments Market - Global Outlook and Forecast 2020-2025
Garment Steamer Market – Geographic Analysis
The continuous development of technologies for electronic appliances, along with the increasing proliferation of social media users is expected to propel the growth of the e-commerce industry in the North American region. The online sales to become a major distribution network in the North American garment steamer market. APAC is the world’s most popular region for business expansion and with the increasing middle-class population will act as a driving factor for garment steamer market growth in the region. Factors such as portability, efficiency, flexibility, along with the convenience offered by steamers in comparison to traditional and conventional modes of ironing methods are expected to boost the demand in the APAC region.
The competition among the leading players is intense and with the rapid change in technology it is expected to intensify during the forecast period. However, these could adversely affect vendors as customers expect continual innovations and upgrades in the garment steamers industry. The manufacturers emphasize on identifying the different market opportunities, thereby setting up certain goals to achieve productivity and efficient usage of capital resources. The present scenario is forcing vendors to alter and refine their unique value proposition to achieve a strong market presence. The key manufacturers are offering and expanding their product line-up in various business segments with the launch of innovative techniques to gain an edge over their competitors. The increasing competition can be attributed to the changing market conditions and shifting consumer demands in different geographical regions across the world.
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