The garment steamers market size was valued at $1,662.78 million in 2021, projected to reach $2,399.14 million by 2028 to grow at a CAGR of 5.4% from 2021 to 2028; while the more than US$ 70 dominated the market during the research period.
New York, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Garment Steamers Market: Key Insights
According to our new research study on “Garment Steamers Market Size and Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Handheld and Upright), Price Range (Less than US$ 20, US$ 20 to US$ 70, and More than US$ 70), Tank Type (Fixed and Removable), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” the market is projected to reach US$ 2,399.14 million by 2028 from US$ 1,662.78 million in 2021; it is expected to grow at a CAGR of 5.4% during 2021–2028.
Garment Steamers Market: Competition Landscape and Key Developments
Groupe SEB; Conair LLC; Jiffy Steamer Company, LLC; Koninklijke Philips N.V.; SALAV USA; Maryant, Inc.; Pure Enrichment; Reliable Corp; Panasonic Corporation; and PurSteam are among the key companies operating in the global garment steamers market. These companies provide a wide range of product portfolio in the market. The companies have their presence in developing regions, which will help in increasing the awareness regarding garment steamer. These market players are highly focused on the development of high quality and innovative products to meet the customer’s requirements. They have realized the immense potential pertaining to garment steamers and are observed being highly involved in merger and acquisition, product launch/product innovation, and market initiatives.
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Garment steamer is an electrical appliance that removes wrinkles from garments using high temperature steam. Rising per capita disposable income, increasing working population, and convenience offered by garment steamers are a few major factors driving the growth of the global garment steamers market. However, the high price of the product hampers the market growth. Vendors active in the market are expected to witness lucrative growth opportunities during the forecast period due to the rising awareness and adoption of garment steamers in the developing economies.
In 2020, North America accounted for the largest share in the global garment steamers market. The market growth in North America is attributed to factors such as the rise in disposable income, increase in working population, and the surge in preference for garment steamers over traditional irons across the region. The continuous innovations and integration of advanced technologies along with ongoing research and development bolster the growth of the garment steamers market in North America.
Rise in Preference for Garment Steamers over Traditional Irons to Boost Market Growth:
There has been a rising preference for garment steamers over traditional irons among consumers worldwide due to their various benefits. Garment steamers are typically quicker in removing wrinkles than traditional iron. Along with this, garment steamers are versatile and can be used on different fabrics and styles of garments. Iron has metal plates and is needed to be handled carefully as it can burn various materials. In contrast, the garment steamers only use a steamer to relax materials and remove creases. Garment steamers are increasingly used for delicate materials such as silk, chiffon, lace, wedding dresses, and saris, as well as for formal wear like suits and office attire, as they will not cause any burns or damage any fabrics. Thus, higher efficiency, portability, flexibility, and ease of use offered by steamers have led to an increased preference for garment steamers over traditional irons.
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Garment Steamers Market: Segmental Overview
By product type, the global garment steamers market is bifurcated into handheld and upright. In 2020, the upright segment accounted for a larger revenue share.
Based on price range, the global garment steamers market is segmented into less than US$ 20, US$ 20 to US$ 70, and more than US$ 70. The more than US$ 70 segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. However, the market for the US$ 20 to US$ 70 segment is expected to grow at a higher rate during the forecast period.
By tank type, the global garment steamers market is bifurcated into fixed and removable. In 2020, the removable segment accounted for a larger revenue share.
Based on distribution channel, the garment steamers market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period.
Impact of COVID-19 Pandemic on Garment Steamers Market:
Initially, the COVID-19 pandemic had a negative impact on the garment steamers market. The outbreak distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, which created revenue loss and damage. The disruptions in the production and supply chain have hindered the garment steamers market growth. The COVID-19 outbreak has also led to an increase in the adoption of work from home scenario where people are managing both household and office work simultaneously. Due to hectic schedule and work pressure, people are preferring convenient household products that can provide ease and convenience in doing their household chores. Various countries across the world had lockdown like situations due to the COVID-19 outbreak, which led to the shutdown of retail stores, convenience stores, and supermarkets and hypermarkets. This way, the crisis hampered the distribution networks of garment steamers. However, due to the closure of physical outlets, consumers shifted to online retail. Therefore, the online sales of various products increased. Thus, an increase in online sale provided positive impact to the online distribution channel.
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Key Questions to Request for Garment Steamers Market:
Can you list some of the major players operating in the global garment steamers market?
Based on price range, which segment led the global garment steamers market in 2020?
Which region held the largest share of the global garment steamers market?
Which major factors are influencing the growth of global garment steamers market?
Based on tank type, which segment is leading the global garment steamers market during the forecast period?
How is the market scope for garment steamers defined?
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