According to Fortune Business Insights™, the global mannequin market size was valued at USD 5.20 billion in 2021 and touched USD 5.29 billion in 2022. The market is expected to reach USD 6.34 billion by 2029, exhibiting a CAGR of 2.6% during the forecast period. Rising demand for bio-degradable manikins and the increasing popularity of abstract dummies from apparel retailers may fuel industry growth. Fortune Business Insights™ shares this information in its report titled “Mannequin Market, 2022-2029.”
COVID-19 Impact:
Closure of Fashion Goods Manufacturing Negatively Affected Market Growth
The market was negatively affected during the COVID-19 pandemic due to the closure of fashion goods production. The alarming spike in COVID-19 infections led to transport, travel, and manufacturing restrictions, hindering industry growth. The closure of manufacturing led to a lack of supply, whereas transport and travel restrictions led to material shortages. However, manufacturers adopted automated production techniques, reduced capacities, part-time shifts, and online retail to combat challenges during the pandemic, thereby boosting sales.
Fortune Business Insights™ lists out all the mannequin market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Able Art Limited (Hong Kong)
- Genesis Display GmbH (Germany)
- Best Mannequin BV (Belgium)
- 3S Mannequin Inc. (India)
- KNCDC (China)
- EUVEKA (France)
- Abstract Mannequin (India)
- Hans Boodt Mannequin (Netherlands)
- Global Mannequin (India)
- BONAVERI (Italy)
- Las Vegas Mannequin (U.S.)
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Product Innovations to Fuel Market Progress
Mannequins are dummies replicating a human body and are often used to showcase clothing and apparel items visually. Increasing product innovations are likely to elevate the product’s demand. Further, manufacturers launch technologically advanced mannequins to enhance their brand image. For example, a Japanese robotics company Speecys Corp. announced ‘Shiguza Robot’ robotic mannequins in September 2019 in Japan. Moreover, the increasing demand for the dummy from several modern mannequin stores may boost its sales. These factors may drive the mannequin market growth.
However, the increasing adoption of online retail is anticipated to hinder the market’s progress.
Segments
Women Segment to Dominate Owing to Rising Preference for Fashion Apparels
By product type, the market is segmented into women, men, child, and others. The women segment is expected to lead the market due to increasing preferences for fashion apparel.
Fiberglass Segment to Dominate Attributable to its Strong Adoption for Mannequin Production
As per material, the market is classified into fiberglass, plastic, and others. The fiberglass segment may dominate the market due to its rising adoption for the product’s production.
Regionally, the market is grouped into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Regional Insights
Increased Outdoor Recreational Products Adoption to Foster Market Growth in North America
North America is projected to dominate the mannequin market share due to the rising demand for outdoor recreation goods such as footwear, sports apparel, and others. For example, as per the Outdoor Industry Association, in 2019, outdoor recreation product spending touched USD 887,000 million. The market in North America stood at USD 2.48 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years.
In Europe, the increasing preference for innovative manikins from clothing stores is likely to fuel industry growth. Furthermore, incorporating robotic technologies and artificial intelligence into manikins may propel industry growth.
In Asia Pacific, strong demand for apparel & accessories from India, Japan, and China is expected to fuel market progress. Moreover, the demand for robotic manikins may provide remunerative growth opportunities.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players’ market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
Competitive Landscape
Major Players Announce Diverse Product Range to Elevate its Brand Image
The prominent companies operating in the market announce diverse product ranges to elevate their brand image. For example, in March 2022, PUMA India announced a slew of mannequin ranges at well-known stores to celebrate Women’s day. This launch may allow the company to attract consumers’ attention and boost its sales significantly. This strategy may enable PUMA to boost its brand image globally. Moreover, major players operating in the market devise expansions, research and development, innovations, novel product launches, and mergers to elevate their market position and enhance annual revenues.
Key Industry Development
- October 2021- Twiggy was featured at Stradivarius’s A/W 2021 collection using a subdued fall-colored backdrop in Barcelona.
Frequently Asked Questions (FAQs):
- How much is the global mannequin market worth?
Answer: Fortune Business Insights says that the market size was USD 5.20 billion in 2021 and is expected to reach USD 6.34 billion by the end of 2029.
- What was the value of the worldwide market in 2021?
Answer: In 2021, the market value stood at USD 5.20 billion.
- At what CAGR is the global market projected to grow in the forecast period (2022-2029)?
Answer: Growing at a CAGR of 2.6%, the market will exhibit steady growth in the forecast period (2022-2029).
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/mannequin-market-106818