Top Consumer Markets
To identify consumer markets in the world that have more than $1 billion in yearly sales, with a focus on markets that specifiy a single product.
According to our research there are multiple global markets that have a global market size bigger than $1 billion. As such, we decided to analyze the two biggest consumer goods markets in the world, namely the US and China.
- According to Select USA, the biggest industry subsectors in the US by market size include appliances, toys, furniture and home furnishings, recreational boats, recreational vehicles (RVs), motorcycles, games, gifts, greeting cards, school and office products, jewelry, sporting goods, musical instruments, and processed foods and beverages.
- In China, the biggest markets include home appliances, cosmetics and beauty products, healthcare products, clothing accessories (cloths, shoes, and bags), processed foods and beverages, and mother and baby products.
- According to Market Watch, the global home furnishing market was valued at $728.5 billion in 2018 and is expected to grow at a CAGR of 5.1% until 2025, reaching $1,085.4 billion in revenue.
- The home furnishing market consists of home furniture, home textile, wall decor and other products.
- According to Zion Market Research, the global cosmetics market was valued at $532 billion in 2017 and is expected to reach approximately $863 billion in 2024, growing at a CAGR of 7% in the forecasted period.
- The market is mainly segmented into skincare, haircare, makeup products, and fragrances.
Fashion Retail market
- The global apparel market was worth around $1.34 trillion in retail sales in 2018.
Examples of single-product markets
- The global board games market was valued at $7.8 billion in 2018 and is expected to grow by $5.17 billion between 2019 and 2023, registering a CAGR of 29.75%.
- While the board games market can still be segmented down to tabletop
games, card and dice
games, and role-playing games, they are all essentially representing one single product unlike markets like cosmetic goods and home appliances, where there are a multitude of other products within the market.
- The global craft beer market size for 2018 was $37.5 billion. It is expected that the market will reach $92.2 billion in revenue by 2025, with a CAGR of 13.7% in the period.
Proposed next steps:
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As the there seems to be a lot of information of the biggest global consumer markets, we propose devoting some additional projects to provide a market segmentation for the following global industries: home furnishing, cosmetics, and apparel markets. For each industry, we will find the 3 biggest segments by single product type (example for for cosmetics: creams, shampoos, eyewear, and so on) and detail in which regions they are most sold. Biggest will be determined by market share.
For each of the identified markets, we will provide the market size and projected growth for the next 3-5 years, including a brief overview of the trends that will drive that growth.
Alternatively we could provide the market size and growth ONLY for the biggest segments in each global industry.