PUBLISHER: Grand View Research | PRODUCT CODE: 1404886
PUBLISHER: Grand View Research | PRODUCT CODE: 1404886
The global mannequin market size is expected to reach USD 10.61 billion by 2030, registering a CAGR of 12.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market growth is driven by the expanding retail and fashion sectors, necessitating innovative mannequins. These figures no longer serve just as fashion displays; but they have become storytelling mediums, reflecting brand values and fostering customer loyalty. Retailers increasingly recognize mannequins as tools to provide visual style cues, showcase outfit combinations, and help shoppers visualize clothing fits, enhancing the overall shopping experience. Notably, there's a rising preference for diverse and representative mannequin figures, aligning with the demand for diverse body type representations in the fashion industry.
Retailers are strategically investing in visual merchandising tools, such as mannequins. The demand for effective merchandising strategies to enhance customer experience has led to retail giants like Target dedicating substantial store space to mannequins. In response to changing consumer demands, the market is shifting toward inclusivity. Traditional mannequins, resembling supermodels, are being replaced by diverse models reflecting a wide range of body types. Retailers, such as Savage x Fenty, Target, Nike, Old Navy, and Nordstrom, are leading this trend, utilizing custom mannequins based on diverse models. For instance, Savage x Fenty's proprietary mannequins not only showcase varied body sizes but also incorporate diverse poses, creating a unique and inclusive store experience.
Mannequins that are representative of diverse consumers is one of the key trends in the market. Another key trend is a shift toward eco-friendly practices. For instance, Hans Boodt Mannequins showcased a sustainable collection at Euroshop 2023 in Duesseldorf, using repurposed materials. The company emphasized sustainability, ethical aesthetics, and innovation. The collections displayed were Untitled, Printing on Demand, and Nobs. Other companies, such as Genesis Mannequins, Bonami BV, Gender Mannequins, and Siegel & Stockman, also feature mannequin collections made of biodegradable materials. The market is moderately fragmented featuring established players, such as Bonaveri, Cofrad, Genesis Display GmbH, Bonami BV, Hans Boodt Mannequins, Noa Brands, and Bernstein Display.
These companies focus on continuous material innovation to cater to the demand for sustainable mannequins made of biodegradable materials. Manufacturers also focus on new product developments to gain a competitive edge in the industry. Asia Pacific is projected to witness the fastest CAGR from 2023 to 2030 owing to the booming retail sector in countries, such as China and India. As these economies experience rising consumer spending and rapid urbanization, retailers are expanding their businesses and investing in appealing store displays to attract more customers. In addition, the region's growing fashion industry and increasing number of shopping centers contribute to the product demand.