The global 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 comfort and warmth during winter season. The customizable heat settings and rechargeable battery make the slippers convenient for indoor and outdoor use.
Market key trends:
One of the key trends in the heated slippers market is the introduction of smart and app-enabled features. Major manufacturers are focusing on integrating smart technologies to provide additional features like remote control, Bluetooth connectivity, and customized heating zones. This allows users to control the heat settings of slippers using a smartphone app as per the weather conditions and comfort preference. The smart technologies improve the functionality of heated slippers and foster their adoption.
SWOT Analysis
Strength: Heated slippers provide warmth and comfort during cold weather. They help keep feet warm without much effort.
Weakness: Heated slippers require power source which limits their use to indoor areas. Frequent charging could be inconvenient.
Opportunity: Growing demand for comfortable indoor footwear during winters in colder regions offers huge market potential. Rising health awareness is increasing sales.
Threats: Availability of cheaper alternatives like woolen socks pose pricing competition. Changes in weather patterns affecting winter seasons Impact sales.
Key Takeaways
The global Global heated slippers market Size is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing demand for comfortable indoor footwear during winters. North America dominated the market with over 30% share in 2023 due to extreme winter conditions in countries like US and Canada demanding heated slippers.
The Asia Pacific region is estimated to be the fastest growing market for heated slippers exhibiting a CAGR of around 11% during 2023-2030 due to cold climate in countries like China, Japan and South Korea. Growing middle class population with increased spending on premium products in the region will drive the heated slippers market.
Key players operating in the heated slippers market are ActionHeat, SMOKO, Snookiz, Volt Heat, Intelex, ValueRays. These players are focusing on new product development with advanced features and innovative designs to cater to changing consumer preferences. The global heated slippers market size for 2023 is US$ 633.1 Million and is expected to increase considerably over the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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