SAN FRANCISCO , Aug. 7, 2024 /PRNewswire/ -- The retail industry globally is witnessing a significant shift in consumer behavior, resulting in innovations by market participants. According to reports published by Grand View Research, the market is experiencing a heightened demand for consumable products.
Increased personal care product sales, such as cosmetics, are expected to be key factors driving growth. In addition, the growing demand for luxury products such as footwear, apparel, and watches is expected to augment market growth further. Major retail companies have been customizing consumer experiences in these areas to maximize product penetration.
Some of the key markets influencing the shape of the overall industry include: The global athleisure market size was USD 358.07 billion in 2023 and is projected to grow at a CAGR of 9.3% from 2024 to 2030.
The growing enthusiasm for sports and outdoor recreational activities among the young population is expected to drive the demand for athleisure. A key factor contributing to this trend is the increasing awareness of fitness and health, boosting the need for comfortable and stylish clothing. Cashmere clothing market size was USD 2.
80 billion in 2023 globally and is expected to grow at a CAGR of 6.2% from 2024 to 2030. Cashmere clothing has gained significant traction globally, becoming synonymous with luxury, comfort, and style.
Global cosmetics market size was USD 295.95 billion in 2023 and is expected to grow at a CAGR of 6.