A Market Place Research – Page 1645

Zinc Acetate Market Size, Predicted to Grow at 5.2% CAGR, Complete Business Forecast by 2030

The global zinc acetate industry generated $138.3 million in 2020, and is anticipated to generate $229.0 million by 2030, witnessing a CAGR of 5.2% from 2021 to 2030. Allied Market Research published a report, titled, “Zinc Acetate Market by Form (Dihydrate and Anhydrous) and Application (Dietary & Medicine, Analytical Reagent, Wood Preservative, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030”.

Prime determinants of growth

Use of zinc acetate for medicines & astringents, expansion of animal feed market, and surge in demand for wood preservation chemicals drive the growth of the global zinc acetate market. However, availability of other zinc based alternatives hinders the market growth. On the other hand, rise in use of zinc acetate in other applications presents new opportunities in the coming years.

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Leading Market Players

Celtic Chemicals
Fengchen Group Co. Ltd.
GFS Chemicals Inc.
Jost Chemical Co.
Kerry Group Plc.
Merck KGaA
Thermo Fisher Scientific
TIB Chemicals AG
FUJIFILM Corporation
Spectrum Chemical

Covid-19 Scenario

The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global zinc acetate market.

The pandemic has led to a steep increase in demand for zinc based supplements, thus boosting the global zinc acetate market.

The dihydrate segment to maintain its leadership status throughout the forecast period

Based on form, the dihydrate segment held the highest market share in 2020, accounting for more than two-thirds of the global zinc acetate market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.4% from 2021 to 2030, owing to its wide range of applications such as dietary products, medicines, and chemicals.

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The dietary & medicine segment to maintain its lead position during the forecast period

Based on application, the dietary & medicine segment accounted for the largest share in 2020, contributing to nearly two-thirds of the global zinc acetate market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 5.4% from 2021 to 2030. The segment includes the use of zinc acetate as a feed and food additive for making supplements, animal feed, capsules, tablets, astringents, and lozenges.

Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global zinc acetate market. Moreover, the same region is expected to witness the fastest CAGR of 6.0% during the forecast period. This is attributed to the fact that the countries such as India and China have presence of large big base for supplements and animal feed.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Glycerol Market Size, Shares, Opportunities, Key Findings and Growth Forecast to 2031

The global glycerol industry was estimated at $4.3 billion in 2021, and is expected to hit $5.1 billion by 2031, registering a CAGR of 1.7% from 2022 to 2031. Allied Market Research published a report, titled, ‘Glycerol Market by Source (Biodiesel, Fatty Alcohol, Fatty Acid, and Others), Product (Refined Glycerin and Crude Glycerin), and End-use Industry (Personal Care, Food & Beverages, Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031.

Drivers, restraints, and opportunities-

Increased adoption of natural products and rise in biodiesel production to boost the glycerol supply and demand chain drive the growth of the global glycerol market. On the other hand, fluctuating prices of raw materials impede the growth to some extent. However, surge in demand from emerging economies is expected to create lucrative opportunities in the industry.

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Key players in the industry-

Emery Oleochemicals
Kao Corporation
Oleon NV
Wilmar International Ltd.
IOI Oleochemical
Musim Mas Group
Ecogreen Oleochemicals
KLK OLEO
Croda International
Procter & Gamble Chemicals

Covid-19 scenario-

Rise in awareness about personal hygiene and surge in demand for hand sanitizers during the pandemic led to increased demand for glycerol, thus driving the growth of the global glycerol market.

This trend is most likely to continue even after the pandemic is over.

The biodiesel segment to retain the lion’s share-

By source, the biodiesel segment held the major share in 2020, garnering around three-fifths of the global glycerol market. The same segment is also projected to cite the fastest CAGR of 2.0% throughout the forecast period. Increased demand for biofuels and the fact that glycerol is a key by-product in the manufacturing process of biodiesel drive the segment growth.

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The refined glycerol segment to dominate by 2030-

By product, the refined glycerol segment contributed to the lion’s share in 2020, holding more than three-fourths of the global glycerol market. The same segment is also anticipated to manifest the fastest CAGR of 1.8% from 2021 to 2030. Increased demand for refined glycerol from end-use industries such as pharmaceutical, personal care, and food & beverages propels the segment growth.

Asia-Pacific, followed by Europe and North America, held the major share in 2020-

By region, Asia-Pacific, followed by Europe and North America, dominated in 2020, garnering around half of the global glycerol market. The same region is also expected to cite the fastest CAGR of 1.9% throughout the forecast period, due to the increased demand from the pharmaceutical and personal care industries. Moreover, the region has a large consumer base for the food industry.

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Polyisoprene Market Trends | Business Strategies, Leading Players and Growth Forecast 2031

The global polyisoprene industry was estimated at $21.5 billion in 2021, and is anticipated to hit $36.4 billion by 2031, registering a CAGR of 5.52% from 2022 to 2031. Allied Market Research published a report, titled, “Polyisoprene Market by Type (Natural Rubber, Synthetic Rubber), by Application (Tires & Related Products, Belt & Hose, Latex, Footwear, Non-Automotive Engineering, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.”

Prime determinants of growth-

Rise in demand for elastomers in the automotive, industrial, footwear, and medical industries drive the growth of the global polyisoprene market. Moreover, increase in usage of polyisoprene in surgical gloves has supplemented the growth yet more. Simultaneously, several growth prospects in the developing and developed economies have also been favorable for the industry.

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Key players in the industry-

Haihang Industry Co., Ltd.
Kent elastomer products
Shell
Dupont, Kuraray Co., Ltd.
SIBUR
The Goodyear Tire & Rubber Company
Exxon Mobil Corporation

Covid-19 scenario-

Temporary disruptions in the automotive industry, during the global health crisis, impacted the global polyisoprene market negatively, especially during the initial period.

The supply-demand gap worsened the scenario even more. However, the market is recovering at a fast pace.

The natural rubber segment to dominate by 2031-

By type, the natural rubber segment contributed to the major share in 2021, holding more than half of the global polyisoprene market. This is due to surge in demand for latex products, such as catheters, gloves, and belts. The synthetic rubber segment, however, would cite the fastest CAGR of 5.63% during the forecast period. Increasing demand for synthetic rubber polyisoprene from the automotive industry will boost the market growth. Properties such as abrasion and temperature resistance make artificial rubber a preferred choice in the automotive industry.

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The tires & related products segment to maintain the lion’s share-

By application, the tires & related products segment accounted for the major share in 2021, holding more than half of the global polyisoprene market. This is attributed to the rising demand for tires. The latex segment, on the other hand, is expected to grow at the fastest CAGR of 6.22% from 2022 to 2031. Growing product usage in the healthcare, coatings and adhesive sectors is expected to stimulate polyisoprene demand for the production of latex for medical gloves, thus driving the market growth.

Europe garnered the major share in 2020-

By region, the market across Europe had the lion’s share in 2021, generating more than half of the global polyisoprene market, owing to the presence of a well-established automotive sector in the region. Asia-Pacific, nonetheless, is projected to portray the fastest CAGR of 6.18% by 2031. This is due to rise in the consumption in the healthcare, coatings, and adhesive industries and increase in the research and development activities in this province.

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Tannin Market Share, Size, Key Players, Growth, Demand, Regional Average Pricing Analysis & Forecast, 2030

Region wise, the global tannin market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe emerged as the leader with nearly two-fifths of the total market share in 2020, owing to development of the wine industry across the region.

According to a new report published by Allied Market Research, titled, “Global Tannin Market: Opportunity Analysis and Industry Forecast, 2021–2030,” the global tannin market was valued at $2.3 billion in 2020, and is projected to reach $4.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.

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By source, the global tannin market size is bifurcated into plants and brown algae. The plants segment dominated the global tannin market with more than half of the total tannin market share in 2020, as processes of manufacturing tannin from plants are easy.

On the basis of product, the market is segregated into hydrolysable, non-hydrolysable, and phlorotannin. The hydrolysable segment dominated the global tannin market with more than two-fifths of the total market share in 2020, as hydrolysable products have beneficial antibacterial effects and are used in the manufacturing of pharmaceuticals.

Tannin refers to astringent biomolecule extracted from plants and fruits. It is found in various parts of plants, including barks, stem tissues, roots, seeds, and leaves. Moreover, plants have a large amount of tannin, which protects them from predators and helps with their growth regulation. Fruits with rich tannin content include cranberries, blueberries, strawberries, hazelnuts, pecans, walnuts, grapes, and oranges. Moreover, tannins are found in coffee, tea, red wine, and beer. Furthermore, tannins are used in medicines such as witch hazel, a source of tannin, used popularly in skincare and personal care products.

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COVID-19 impact analysis

According to the International Monetary Fund (IMF), owing to the outbreak of novel coronavirus (COVID-19), the global economy shrunk by 3.0% in 2020. Many countries are under stringent lockdown, which have forced several sectors to shut down their operations. This has halted manufacturing activities and reduced the demand and production of tannin.

The COVID-19 pandemic has had a negative impact on the overall leather industry, including the footwear, apparel, and accessories. Retailers faced severe losses during the first two quarters of 2020. According to a report by the World Footwear, the sales of footwear declined by close to 32.0% in the U.S. at the end of the first two quarters of 2020. Low demand for footwear, in general, is subsequently expected to decrease the sales of leather shoes. Many manufacturers in the market have historically relied on China for finished products as well as raw materials used in the manufacturing of various leather goods. The pandemic has, however, disrupted the supply chain, causing severe losses in terms of product shipment and on-time delivery. Due to this, the demand for tannin from leather manufacturers and tanners has declined significantly in 2020, and is likely to be to affected in 2021. However, the demand for tannin from leather industry is anticipated to recover in the first half of 2022, as various leather goods manufacturing players are about to restart their manufacturing activities.

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Key Findings Of The Study

In 2020, Europe dominated the global tannin market with around 39.0% share, in terms of revenue, and is projected to grow at the highest CAGR of 4.5% in terms of value.
The North America is projected to grow at the highest CAGR of 6.3% in terms of revenue.
The plants segment dominated the global tannin market with around 52.7% of the share in terms of revenue, and is estimated to register the highest CAGR of 6.2%.
The hydrolysable segment dominated the global tannin market with around 43.6% of the share in terms of revenue.
The phlorotannin segment is projected to grow at the highest CAGR of 6.3% in terms of revenue.
The leather tanning segment dominated the global tannin market with 61.7% of the share in terms of revenue.
The wood adhesive segment is projected to grow at the highest CAGR of 6.6% in terms of revenue.

The major players profiled in the global tannin market report are Tannin Corporation, S.A. Ajinomoto Omnichem N.V., Polson Pty. Ltd., Forestal Mimosa Ltd., Ever S.R.L., and UCL Company (Pty) Ltd., Laffort SA, Zhushan County Tianxin Medical & Chemical Co., Ltd., W. Ulrich GmbH, and Tanin Sevnica D.D.

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Small Caliber Ammunition Market Analysis, Growth Opportunities, Future Demand And Leading Players Updates By Forecast To 2027

The rise in terrorist activities across the globe propels the growth of the local government agencies, military, and police to procure small-caliber ammunition. Also, the military sector of various nations is witnessing a significant upsurge in the defense budget for the replacement of existing arsenal and other modernization initiatives, which in turn fuels the demand for small-caliber ammunition. However, stringent laws on ownership of guns hamper the market potential.

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Key Market Players

Northrop Grumman Corporation
China North Industries (NORINCO)
Winchester Ammunition (Olin Corporation)
General Dynamics Corporation
IMI (Israel Military Industries)
Remington Outdoor
BAE Systems PLC
RUAG Group
Liberty Ammunition
Ruag (Ruag Ammotec AG).

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Key Market Segments

By Size

5.56mm Caliber
7.62mm Caliber
9 mm Caliber
12.7mm Caliber

By Applications

Military
Law Enforcement
Civilian

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Key Benefits of the Report:

This study presents the analytical depiction of the global Small caliber ammunition industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global Small caliber ammunition market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Small caliber ammunition market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global Small caliber ammunition market analysis based on competitive intensity and how the competition will take shape in the coming years.

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Questions Answered in the Small caliber ammunition Market Research Report:

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What the current trends will influence the market in the next few years?
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Navigation Satellite Market Size, Growth, Report Study, Demand, Key Players, and Forecast by 2031

The growth of the global navigation satellite system market has propelled due to increase in the adoption of autonomous vehicles for several applications and growth in dependence on location-based services. However, cyber-attacks impacting navigation satellite systems and inaccuracy in GNSS data are the factors that hamper the growth of the GNSS market. Furthermore, fusion of 5G and GNSS is expected to offer growth opportunities during the forecast period.

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Key Market Players

Furuno Electric
Hemisphere GNSS
Hexagon
L3 Harris Corporation
Laird Plc
Navtech GPS
Qualcomm Inc
Texas Instruments
Topcon Corporation
Trimble Inc.
Garmin Ltd
Raytheon Technologies Corp.
SkyTraq Technology, Inc.
STMicroelectronics
Broadcom Inc.

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Moreover, autonomous vehicle with the aid of GNSS receivers can perform effectively even in a low navigation satellite signal reception area. Therefore, demand for GNSS integrated autonomous vehicles is increased. Thus, increase in the adoption of autonomous vehicles for several applications is one of the factors that drive the growth of the navigation satellite system industry during the forecast period.

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Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the navigation satellite industry analysis from 2021 to 2031 to identify the prevailing navigation satellite market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the navigation satellite market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global navigation satellite market trends, key players, market segments, application areas, and market growth strategies.

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Key Market Segments

Component
- Devices
- Services
Type
- Global Constellations
- Regional Constellations
- Satellite-based Augmentation Systems
Application
- Consumer and Health Solutions
- Road and Automotive
- Others

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Municipal Fire Fighting Vehicles Market Analysis, Growth Opportunities, Future Demand And Leading Players Updates By Forecast To 2027

Some of the factors that boost residential & commercial applications and technological advancements and rise in demand for safety in developed and developing economies is expected to spur the demand during the forecast period. However, high cost of fire trucks is one of the major industry challenges impacting the market growth. Furthermore, increasing R&D investments by manufacturers to commercialize electric versions of these municipal fire fighting vehicles is expected to offer lucrative opportunities for the market during the forecast period.

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Key Market Players

Rosenbauer
Empl Fahrzeugwerk
Oshkosh
Morita Group
Magirus Group
REV Group
Iturri Group
Spartan
Chase Enterprise
Ziegler

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COVID-19 scenario analysis:

As the COVID-19 crisis started, public life in many countries is affected, with almost every sector suffering due to the pandemic.
The most immediate and visible effect of COVID-19 in the traditional automotive sector is the standstill of production by many OEMs, which has affected the market.
Public-transit ridership has declined to a much larger extent across the globe and operators are burdened with uncertainty and potential need to implement strict protocols.
Ride hailers have also experienced a decline in business and many micro-mobility and carpooling players have suspended their services.
Some governments have launched initiatives to support mobility start-ups that were hit hard by the crisis, but low cash reserves and a lack of capital in the market will affect the market.

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Key benefits of the report:

This study presents the analytical depiction of the municipal fire fighting vehicles market industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the municipal fire fighting vehicles market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the municipal fire fighting vehicles market scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed municipal fire fighting vehicles market analysis based on competitive intensity and how the competition will take shape in the coming years.

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Questions answered in the municipal fire fighting vehicles market research report:

Which are the leading market players active in the municipal fire fighting vehicles market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the municipal fire fighting vehicles market?
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Motor Caravans Market Size, Growth, Report Study, Demand, Key Players, and Forecast by 2027

A vehicle that combines transportation and temporary living quarters for travel, entertainment, and outdoors is called a motorhome. In other words, a motorhome is a vehicle designed for recreational use, such as in. There are many benefits of owning and traveling in a motor caravan such as convenience, comfort, family appeal, affordability, and lure of outdoors and adaptability. All the aforementioned factors drive growth of the market.

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Key Market Players

Eclipse Motorhomes Inc.
Gulf Stream Coach Inc.
Northwood Manufacturing Inc.
Palomino RV
Thor Industries Inc.
AL-KO AXIS
Allied Recreation
Aliner and Somerset Folding Camping Trailers
Augusta RV
Coachmen Motorhome Company

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COVID-19 scenario analysis:

The COVID-19 pandemic has limited growth of the market with closure of plants. It has brought the industry to a standstill and added intense pressure on manufacturers as well as distributors and supply chain of motor vehicle components.
The pandemic is set to hit the economy of many countries, hence there is a chance of a recession though there are many possibilities of sales going down in many ways.
The upcoming launch of many high-tech vehicles has been put on hold in many countries seeking the condition of the pandemic, which is expected to crucially affect the motor caravans market during the forecast period.
The full extent of COVID-19 impact on human life, global economy, and enterprises is not yet known, however, it has become an extraordinary catalyst for change in the future.

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Key benefits of the report:

This study presents the analytical depiction of the motor caravans market industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the motor caravans market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the motor caravans market scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed motor caravans market analysis based on competitive intensity and how the competition will take shape in the coming years.

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Questions answered in the motor caravans market research report:

Which are the leading market players active in the motor caravans market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the motor caravans market?
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Men’s Hair Care and Styling Products Market Size to Rise USD 54,755.1 Million by 2030 – Claims by Allied Market Research

According to a new report published by Allied Market Research, titled, “The men’s hair care and styling products market size was valued at $40,430.0 million in 2020, and is projected to reach $54,755.1 million by 2030, registering a CAGR of 3.3% from 2021 to 2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.

In the last few years, a trend has been seen in the use of hairstyle products to look good and keep a decent appearance. The haircare and styling products market has witnessed significant growth due to an increase in the number of people from all over the world opting for haircare products as a precautionary measure to fight hair fall and hair damage. Key market players seek to strengthen their position by offering high-tech goods and developing a strong distribution channel network that is projected to fuel the market growth. The creation of products is aimed at fostering market expansion.

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For instance, in May 2021, the Atulya brand introduced Veg Keratin products, including shampoo, hair conditioner, and hair oil. The products are cruelty-free and manufactured from plant-based materials, which protect the hair against damage and restore the protein build for anti-breaking purposes.

The men’s hair care and styling products market is segmented into product type, distribution channel, and region. By distribution channel, the men’s hair care and styling products industry is segregated into supermarket & hypermarket, convenience stores, specialty stores, e-commerce, and others (departmental stores and grocery stores). By region, the men’s hair care & styling products are divided into North America, Europe, and Asia-Pacific.

Asia-Pacific leads in terms of men’s hair care and styling products market share and is poised to grow with highest CAGR during the men’s hair care and styling products market forecast period. The supermarkets and hypermarkets segment was the leading channel with maximum share in 2020, growing with significant CAGR during the haircare and styling products market forecast period. This is attributed to the increase in the business of retail sales in different regions and the availability of large shelf space for maximum sales.

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Haircare segment and hair care products are used globally and are one of the prime product types for haircare and styling products; thus, is expected to influence the overall haircare and styling products industry. The haircare segment was valued at $24.0 billion and is expected to grow with a CAGR of 2.5% from 2020 to 2030, to reach $30.3 billion by 2030.

In addition, a surge in penetration of haircare and styling products among consumers is anticipated to fuel the market growth during the forecast period. Region-wise, Asia-Pacific was the prominent region in 2020, garnering maximum share in the haircare and styling products market, owing to the huge consumer base and increase in population. SMEs operating in the region are targeting online sales channels to increase their sales. These companies are further investing in various marketing and advertising activities to increase the awareness of their products.

The key players profiled in this report include include American Crew, Baxter of California, Jack Black, Harry’s, Malin+Goetz, Hanz de Fuko, Dove Men, Redken Brews, Old Spice, and Axe. These players are introducing new products in the men’s hair care and styling products industry to increase the customer base and product sale.
Key Findings Of The Study:

• By type, the hair care segment lead in terms of market share in the year 2020, however the styling products segment is expected to grow with the highest CAGR during the forecast period.
• By sales channel, supermarkets and hypermarkets are the most popular means of purchase of men’s hair care and styling products, however, the E-commerce segment is expected to have the highest CAGR growth during the forecast period.
• By region, Asia-Pacific is the largest market in terms of men’s hair care and styling products and is likely to dominate the global market throughout the forecast period.

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• To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.

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In-depth Research on Tennis Shoes Market Business Status, Industry Trends and Outlook 2021–2028

According to a new report published by Allied Market Research, titled, The global tennis shoes market was accounted for $2.19 billion in 2020, and is expected to garner $2.60 billion by 2028, registering a CAGR of 2.8% from 2021 to 2028. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.

Increase in preference for tennis as a lifetime sport, rise in initiatives for improving tennis participation, and rapid launch of innovative products drive the global tennis shoes market. On the contrary, popularity of eSports among youth and availability of counterfeit products hinder the market growth. However, emergence of smart technology in shoes would open new opportunities in the coming years.

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Tennis shoes are type of athletic footwear used specially for playing tennis. It is different from other footwear as the design and qualities needed in a tennis shoe are different from other athletic shoes. Moreover, tennis shoes feature more strength and durability so that it allows players in quick side wise, forward, and backward movement while playing tennis. Tennis is gaining popularity across the globe due to events such as Grand Slams and French Open. Moreover, growth in fan base of famous tennis players such as Pete Sampras, Bianca Andreescu, and Rafael Osuna propels tennis participation rate globally and consequently fuels demand for the tennis shoes.

By type, the hard-court tennis shoes segment held the largest share in 2020, contributing to nearly half of the global tennis shoes market. Moreover, the segment is expected to manifest the highest CAGR of 2.6% during the forecast period, due to high popularity and preference of hard courts because of its affordability.

By distribution channel, the supermarket/hypermarket segment was the prominent segment, owing to high popularity and wide scale penetration of supermarket/hypermarket in leading tennis shoes markets such as North America and Europe. The supermarket/hypermarket segment is followed by specialty stores and e-commerce segments. Wide scale adoption of internet, online shopping platforms, and changes in consumer buying behavior due to COVID-19 is expected boost the e-commerce segment. Moreover, the e-commerce segment is anticipated to be the fastest-growing distribution channel during the forecast period, owing to growth in popularity and developing infrastructure of e-commerce channels globally.

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North America dominated the market, garnering around 37.4% of the total tennis shoes market share, followed by Europe. North America and Europe are characterized by high disposable income and elevated participation in tennis & demand of tennis shoes, which makes them leading markets for tennis shoes.

However, Asia-Pacific is expected to show promising growth rate due to the presence of highest tennis playing population in this region. According to the International Tennis Federation (ITF), Asia contributed for around 37.9% or over 33 million of the global tennis playing population in 2019. LAMEA is anticipated to exhibit slow growth due to unawareness about different tennis shoes and low participation in tennis.

Players operating in the global tennis shoes market have adopted various developmental strategies to expand their market share, exploit the tennis shoes market opportunities, and increase profitability in the market. The key players profiled in this report include ADIDAS Group, ASICS Corporation, Babolat, FILA Holdings Corp., K-Swiss, Lotto Sport Italia S.p.A., New Balance, Inc., Nike, Inc., PUME SE, and Wilson Sporting Goods Company.

Key findings of the study:

○ The tennis shoes market was valued at $2,193.2 million in 2020, and is estimated to reach $2,604.4 million by 2028, growing at a CAGR of 2.8% during the forecast period.
○ By playing surface, the hard court tennis shoes segment is estimated to witness the fastest growth, registering a CAGR of 2.6% during the forecast period.
○ In 2020, depending on user, the men segment was valued at $1,096.9 million, accounting for 50% of the global tennis shoes market share.
○ In 2020, the U.S. was the most prominent market in North America, and is projected to reach $357.3 million by 2028, growing at a CAGR of 2.6% during the forecast period.

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