Overview
The zipper market is projected to register a CAGR of 7.64% during the forecast period 2019 to 2024. As per a research report, by the end of 2024, the global market will reach US$16,957.8 million in value. Prepared by the market's expert analysts, the market research report highlights trends changing the overall market landscape. The widespread application in various products and changing fashion trends as well as other factors are set to make the zipper market optimistic. However, the availability of substitutes as well as the use of alternative fasteners will negatively affect it. The global market forecast for the 2019 to 2024 period is based on a forecast model implemented by experts. Primary and secondary data suggests that applications and material type segments will witness a healthy growth till 2024.
The arrival of alternative solutions coupled with fluctuating prices of raw material could turn out to be potential threats to the zipper market. Across the applications and material type segments, companies functioning in the market want to maximize the profitability. Growth of the apparel industry in emerging markets and textile industries' development in emerging markets are anticipated to unlock the growth potential. The market research report also discusses estimates at global levels and forecasts for the 2019 to 2024 period.
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Market Segmentation
Applications, product type, and material type are the key zipper market segments. As per the research report, the market is further segmented by applications into apparel, bags, shoes and others. Based on material type the market is categorized into metal, coil, and molded plastic. Furthermore, on the basis of product type the market is segmented into apparel, bags, shoes, and others.
zipper market estimates and forecasts based on applications, product type, and material type segmented are provided in the report till 2024. Along with companies’ performance metrics, the report also provides company profiles. The researchers have used analytical tools such as Porter’s Five Forces model to examine the zipper market’s five key areas. Additionally, the report uses SWOT analysis. For the study of companies in the global market, it is a strategic planning method. The market’s value chain analysis is also covered in the report. As per analysts, use of zippers in a range of clothing applications is one of the key growth factors for the zipper market during the forecast period 2019 to 2024.
Regional Overview
The zipper market is segmented into applications and material type along with its sub segments. Furthermore, the market is also segmented based on geographical regions. The segmental analysis covers regional markets of North America, Europe, Asia-Pacific, the Middle East and Africa, and the rest of the world. The market in North America is expected to grow due to the surge in clothing expenditure. The region’s market across the United States, Canada, Mexico, and others are covered in the research report. Companies in the European markets are active across the United Kingdom, France, Italy, Germany, and the rest of Europe. The market across the APAC region is spread across India, China, Japan, Singapore, and the rest of Asia Pacific. The market report also covers the rest of the world including South America, the Middle East and Africa for the forecast period 2019 to 2024.
The growth of the apparel industry will be a major growth factor, although the growing demand for alternative solutions could hinder the growth of the zipper market. As per analysts, with a CAGR of 7.64%, the global market is estimated to grow across applications and material type segments. However, the market players will need to focus on substitutes and raw material prices which could negatively affect the market’s projected growth. The market’s projected valuation is expected to reach US$16,957.8 million by 2024 considering the growth factors like the presence of strong contenders and consumers’ preference for luxury handbags.
Competitive Landscape
Zipper market players need to focus on the market’s competitive rivalry across applications and material type segments and geographic regions. The launch of an enterprise is an enormous challenge. You can gain or lose. There are opportunities, but the growth will be determined by customer approval of the goods. However, the risks inherent with the industry can be minimized by market analysis. It will help to establish a company that will make enormous profits. Customers in a certain consumer area respond in a unique way. Their actions have an effect on a trade's profitability and growth. It's useful to know what brands people like and avoid. Equipped with this knowledge, you will be able to identify the ideal products to fulfil their existing requirements. Weak or no sales will result from a lack of knowledge of the consumers.
Industry News
Next, a British clothes chain, has decided to purchase a 25% stake in up market smaller competitor Reiss, with the option of gaining majority ownership, the company has announced. Covid-19 lockdowns have wreaked havoc on the UK garment industry. Retailers have had to focus on the online outlets as a result of store closures. Because of its large online company, Next has done well through the pandemic, and CEO Simon Wolfson expected that the crisis will free up investment opportunities last year.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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