Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Direct Selling Market Size, Share & Trends Analysis Report By Product (Health & Wellness, Cosmetics & Personal Care, Household Goods & Durables), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global direct selling market is set on a dynamic course, with an anticipated destination of USD 328.26 billion by 2030, showcasing a robust Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2030, according to the latest market analysis.
Consumers' increasing desire to examine and verify products before making a purchase is a driving force in the global industry. This trend, influenced by the internet ecosystem and changing consumer demands, has given rise to new business models, including direct-to-consumer (D2C) distribution channels. Direct selling has emerged as a dynamic and rapidly evolving method of product and service distribution.
Direct selling organizations have been adept at regularly introducing new offerings to reach a broad consumer base over the past several years. To meet the evolving preferences of today's consumers, businesses have been innovating with new product variants. By expanding their brand portfolios, direct selling organizations have been able to cater to a diverse audience with varying product preferences. Direct selling not only provides an additional source of income for many but also fosters micro-entrepreneurship.
During the global pandemic of 2020, direct selling saw increased use of internet tools and video meetings, providing much-needed social interaction for customers separated by national lockdowns. According to the Direct Selling Association (DSA), the global health crisis spurred greater consumer demand for health and wellness products, and direct selling offered home-bound entrepreneurs an avenue to supplement their income.
The health and wellness category led the global market, driven by the rising prevalence of chronic diseases worldwide. Sedentary lifestyles, stress, anxiety, diabetes, and other health issues have surged among consumers. Additionally, inadequate diets have led to reduced consumption of essential nutrients and minerals required for a healthy and active lifestyle. Consequently, the use of health and wellness products such as vitamins, supplements, and other nutritional items has witnessed a significant uptick.
In 2022, Asia Pacific asserted its dominance in the global market, primarily due to increased spending on healthcare and cosmetics. Emerging economies, particularly lower-tier cities in China, India, and Indonesia, have seen a surge in the popularity of direct selling. North America also claimed a substantial market share in 2022, driven by the presence of multiple players and an increasing appetite for additional income through direct marketing. Furthermore, rising disposable incomes, coupled with government initiatives, are expected to bolster regional market growth in the coming years.
Companies Mentioned
- Amway Enterprises Pvt. Ltd.
- Herbalife Nutrition Ltd.
- Avon Products, Inc.
- Vorwerk.
- Nu Skin Enterprises
- Tupperware Brands Corporation
- Oriflame Holding AG
- Belcorp Corporation
- Mary Kay Inc.
- Cutco Corporation
Highlights from the Direct Selling Market Report:
- Asia Pacific Leads the Charge: Asia Pacific emerged as the global market leader, accounting for the majority of total sales. The region's growth is fueled by the increasing adoption of health and wellness as well as cosmetics products.
- Cosmetics and Personal Care on the Rise: The cosmetics and personal care segment of the global market is poised for rapid expansion. This category is projected to grow at a CAGR of 7.4% over the forecast period, driven by a growing awareness of skincare regimens, innovative product branding, and promotional strategies.
- North America Claims a Substantial Share: In 2022, North America secured a notable market share. The region's growth is driven by the presence of multiple players and an increasing desire for supplementary income through direct selling. Moreover, rising disposable incomes, along with government initiatives, are expected to bolster regional market growth in the years ahead.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 70 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $200.14 Billion |
| Forecasted Market Value (USD) by 2030 | $328.26 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Direct Selling Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Profit margin analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Industry challenges
3.3.4. Industry opportunities
3.4. Market Entry Strategies
3.5. Industry Analysis Tools
Chapter 4. Consumer Behavior Analysis
Chapter 5. Direct Selling Market: Product Estimates & Trend Analysis
Chapter 6. Direct Selling Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Analysis
For more information about this report visit https://www.researchandmarkets.com/r/cy6n96
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
