The heated slippers market is estimated to be valued at US$ 633.1 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Heated slippers provide warmth and comfort to feet during winter season. They are available with different heating options like batteries, USB charging, and AC power. They are widely used by people while relaxing at home or for casual indoor activities. The rising demand for comfortable footwear is driving the demand for heated slippers.
Market Dynamics:
The Global heated slippers market Size\ is expected to grow at a significant rate owing to two major drivers-
Rising demand for heated slippers for household and indoor activities- Heated slippers are increasingly being used by people for indoor activities like watching TV, reading books etc at home during winter. This is driving the market growth.
Growth in e-commerce sector- The growth of e-commerce sector has made heated slippers accessible to wider audience globally. Online platforms offer a variety of brands, sizes and price points. This factor is positively impacting the market expansion. However, availability of alternative products like heated mattress may restrict the market growth.
SWOT Analysis
Strength:
- Heated slippers provide warmth and comfort during cold weather in three feet, which makes them very popular. It reduces stress and boosts blood circulation.
- Technology advancement has enabled manufacturers to make heated slippers small, portable and long lasting on single charge.
- Growing e-commerce has increased accessibility of heated slippers to wide range of customers.
Weakness:
- Higher price point compared to traditional slippers limits mass adoption of heated slippers.
- over reliance on technology increases risk of breakdown and repairs.
Opportunity:
- Growing outdoor recreational activities and sports in cold regions open new opportunities.
- Rising health awareness about benefits of blood circulation can help drive new customers.
Threats:
- Entry of local cheaper alternatives can affect sales of international brands.
- Extreme weather conditions can affect performance of heated slippers.
Key Takeaways
The global heated slippers market is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing demand for comfortable indoor wears and growing outdoor recreation activities in cold regions.
Regional analysis –
North America dominates the heated slippers market currently due to extreme winter weather conditions in countries like U.S. and Canada. Europe is the second largest market led by countries like U.K., Germany, and Russia. Asia Pacific is expected to be the fastest growing market during the forecast period with China, Japan and South Korea emerging as major consumers.
Key players - Key players operating in the heated slippers market are ActionHeat, SMOKO, Snookiz, Volt Heat, Intelex, ValueRays. ActionHeat dominates the U.S market while Snookiz has strong presence in European countries. These players are investing in product innovation and strengthening distribution networks globally.
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