Specialty Products Global Market Report 2024

Description

“Specialty Products Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on specialty products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
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Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for specialty products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The specialty products market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product: Watches And Jewelry; Perfumes And Cosmetics; Clothing; Bags/Purse; Other Products
2) By Distribution Channel: Internet Retailing; Departmental Stores; Specialist Retailers; Exclusive Showrooms; Other Distribution Channel
3) By End User: Women; Men; Unisex
Companies Mentioned: LVMH Moet Hennessy Louis Vuitton; Kering; L'Oreal S.A.; Ralph Lauren Corporation; Shiseido Company Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Specialty products are unique items tailored to specific customer preferences, often characterized by distinct qualities or brand recognition. They are available in limited quantities, typically high-end, and command higher prices compared to more common items accessible to a larger customer base. These products are often expensive, and customers tend not to compare them extensively to similar goods.

The primary categories of specialty products encompass watches and jewelry, perfumes and cosmetics, clothing, bags, and other specialized items. Watches are small timekeeping devices that can be worn on the wrist or carried, while jewelry consists of ornamental pieces such as rings, bracelets, and necklaces crafted from precious metals such as gold and occasionally adorned with valuable gemstones. Specialty products are distributed through various channels such as internet retailing, department stores, specialty retailers, and exclusive showrooms, catering to both men and women, including unisex options.

The specialty products market research report is one of a series of new reports from The Business Research Company that provides specialty products market statistics, including specialty products industry global market size, regional shares, competitors with a specialty products market share, detailed specialty products market segments, market trends and opportunities, and any further data you may need to thrive in the specialty products industry. This specialty products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The specialty products market size has grown strongly in recent years. It will grow from $5.79 billion in 2023 to $6.33 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth witnessed during the historic period can be attributed to several factors, including economic growth and increased affluence, a rise in awareness regarding health and wellness, the expansion of globalization and trade, changes in regulatory measures and standards, as well as cultural and lifestyle shifts.

The specialty products market size is expected to see strong growth in the next few years. It will grow to $9.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period is expected to be driven by several factors, notably a heightened emphasis on the circular economy, ongoing innovations in materials and ingredients, evolving consumer preferences, the emergence of boutique and niche brands, as well as the influence of global events and the effects of pandemics. Key trends projected in the forecast period encompass the integration of artificial intelligence (AI) technologies, innovations in packaging methods, technological advancements in specialty chemicals, the trend towards customization and personalization, the digital transformation within specialty retail, as well as advancements in biotechnology and genetic engineering.

The specialty products market is anticipated to experience growth driven by the incorporation of precious rare elements such as diamonds, sapphires, gold, and rubies. These precious and semi-precious gemstones, known for their appeal, toughness, and rarity, are utilized in creating jewelry and accessories. Diamonds, sapphires, gold, and rubies have become status symbols, commonly used in crafting unique rings, bracelets, ornaments, and other items such as engagement rings. In January 2021, Alrosa, a Russia-based diamond mining company, reported a total of $4,169 million worth of raw and polished diamond sales in 2021, highlighting the significance of precious rare elements in the specialty products market.

The specialty products market is set to witness growth propelled by the increasing demand for personal care and cosmetic products. These products encompass a broad range used for personal hygiene, grooming, and beautification. Specialty products play a vital role in enhancing the benefits of individual components in cosmetic formulations, offering improved performance compared to conventional ingredients. According to data from January 2021, skincare product sales in the US increased by 13% the previous year, with online beauty merchants experiencing a growth of 24%, and skincare leading the way. This surge in demand for personal care and cosmetic products is a driving force in the growth of the specialty products market.

A key trend in the specialty products market is product innovation, with major players focusing on creating new technological advancements to enhance their market positions. In August 2022, Calumet Specialty Products Partners, a US-based lubricating oil manufacturing company, introduced a new line of transformer oils for Canada in collaboration with Aevitas Inc., a Canada-based engineering consultancy. The Caltran line of arctic-grade insulating oils, known for remarkable oxidation stability, corrosion protection, and low-temperature fluidity, is tailored for Canadian conditions, showcasing the importance of product innovation in the specialty products market.

Prominent companies in the specialty products market are strategically focusing on the introduction of innovative products, such as baclofen oral granules, as part of their efforts to drive revenue growth. Baclofen oral granules are a medication designed to address muscle stiffness, spasms, and pain associated with conditions such as multiple sclerosis and spinal cord injuries. In June 2022, Amneal Pharmaceuticals Inc., a US-based pharmaceutical company, launched LYVISPAH, a baclofen oral granule specialty product. Approved by the U.S. Food and Drug Administration, these rapidly dissolving flavored granules (available in 5, 10, and 20 mg) are intended for treating spasticity related to multiple sclerosis. LYVISPAH provides relief for flexor spasms, concomitant pain, clonus, muscular rigidity, and other spinal cord disorders. The product can be administered in three ways such as directly into the mouth with or without water, in combination with food or drink, or through an enteral feeding tube.

In January 2022, Ronatec C2C, a US-based industrial chemical manufacturer and distribution company, made a strategic move by acquiring Metalx Specialty Products for an undisclosed amount. This acquisition aligns with Ronatec's strategy, bringing about better product understanding, enhanced marketing, efficient sales, and an established distribution system. Metalx Specialty Products Inc., the acquired company, is a US-based specialty chemical products company specializing in non-toxic metal stripping products for the metal finishing industry. This strategic acquisition reinforces Ronatec C2C's position in the specialty products market.

Major companies operating in the specialty products market report are LVMH Moet Hennessy Louis Vuitton, Kering, L'Oreal S.A., Ralph Lauren Corporation, Shiseido Company Limited, Rolex SA, Luxottica Group SpA, Royal Terberg Group B.V., Bucher Industries AG, KIRCHHOFF Gruppe Gmbh & Co. KG, Gucci, Frederique Constant, Compagnie Financiere Richemont SA, Hermes International SA, Patek Philippe, The Swatch Group Ltd., Cargill Incorporated, General Mills, Kraft Foods, Saudi Arabian Oil Co., SABIC, Farabi Petrochemicals Co., Total Energies, Chevron Corporation, Solvay, Evonik Industries AG, Clariant AG, Akzo Nobel N.V., DuPont, Lanxess .

North America was the largest region in the speciality products market in 2023. North America is expected to be the fastest-growing region in the speciality products market during the forecast period. The regions covered in the specialty products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the specialty products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The specialty product market consists of sales of sporting equipment, fancy foods and famous paintings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11357

1. Executive Summary

2. Specialty Products Market Characteristics

3. Specialty Products Market Trends And Strategies

4. Specialty Products Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Specialty Products Market Size and Growth

5.1. Global Specialty Products Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Specialty Products Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Specialty Products Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Specialty Products Market Segmentation

6.1. Global Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Watches And Jewellery
Perfumes And Cosmetics
Clothing
Bags/Purse
Other Products
6.2. Global Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Internet Retailing
Departmental Stores
Specialist Retailers
Exclusive Showrooms
Other Distribution Channel
6.3. Global Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Women
Men
Unisex

7. Specialty Products Market Regional And Country Analysis

7.1. Global Specialty Products Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Specialty Products Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Specialty Products Market

8.1. Asia-Pacific Specialty Products Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Specialty Products Market

9.1. China Specialty Products Market Overview
9.2. China Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Specialty Products Market

10.1. India Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Specialty Products Market

11.1. Japan Specialty Products Market Overview
11.2. Japan Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Specialty Products Market

12.1. Australia Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Specialty Products Market

13.1. Indonesia Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Specialty Products Market

14.1. South Korea Specialty Products Market Overview
14.2. South Korea Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Specialty Products Market

15.1. Western Europe Specialty Products Market Overview
15.2. Western Europe Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Specialty Products Market

16.1. UK Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Specialty Products Market

17.1. Germany Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Specialty Products Market

18.1. France Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Specialty Products Market

19.1. Italy Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Specialty Products Market

20.1. Spain Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Specialty Products Market

21.1. Eastern Europe Specialty Products Market Overview
21.2. Eastern Europe Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Specialty Products Market

22.1. Russia Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Specialty Products Market

23.1. North America Specialty Products Market Overview
23.2. North America Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Specialty Products Market

24.1. USA Specialty Products Market Overview
24.2. USA Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Specialty Products Market

25.1. Canada Specialty Products Market Overview
25.2. Canada Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Specialty Products Market

26.1. South America Specialty Products Market Overview
26.2. South America Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Specialty Products Market

27.1. Brazil Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Specialty Products Market

28.1. Middle East Specialty Products Market Overview
28.2. Middle East Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Specialty Products Market

29.1. Africa Specialty Products Market Overview
29.2. Africa Specialty Products Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Specialty Products Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Specialty Products Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Specialty Products Market Competitive Landscape And Company Profiles

30.1. Specialty Products Market Competitive Landscape
30.2. Specialty Products Market Company Profiles
- 30.2.1. LVMH Moet Hennessy Louis Vuitton
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Kering
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. L'Oreal S.A.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Ralph Lauren Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Shiseido Company Limited
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Specialty Products Market Competitive Benchmarking

32. Global Specialty Products Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Specialty Products Market

34. Specialty Products Market Future Outlook and Potential Analysis

34.1 Specialty Products Market In 2028 - Countries Offering Most New Opportunities
34.2 Specialty Products Market In 2028 - Segments Offering Most New Opportunities
34.3 Specialty Products Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer