by 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 are specially designed slippers that provide warmth to the feet by incorporating a heating element. They usually have fleece lining to retain heat and provide comfort. Heated slippers are powered by battery packs that are rechargeable and offer timed or temperature controlled heat. They can be used for indoor activities like relaxing at home or while working from home. Heated slippers provide warmth and comfort without the hassle of operating bulky heaters or managing open flames.
Market key trends:
Growing popularity of indoor comfort: With rising indoor activities like working from home and indoor entertainment due to lockdowns and mobility restrictions, consumers are increasingly looking for comfortable indoor wears. Heated slippers provide perfect comfort while staying indoors without requiring bulky heating setups. This has boosted the demand for heated slippers.
Technological advancements: Manufacturers are focusing on developing more innovative features in heated slippers like app-based controls, multiple heating zones, longer battery life etc. Integration of new technologies is helping expand the addressable market for heated slippers.
Emergence of innovative designs: To attract diverse set of consumers, companies are coming up with innovative and fashionable designs of heated slippers. Trendy designs catering to both genders is driving new customers towards heated slippers.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as Global heated slippers market Size requires high initial investments and expertise in product development. Brand loyalty and access to distribution channels also poses challenges for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established players and substitutes available. However, the switching costs are low.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have dominance. However, availability of substitute raw materials provides some bargaining power to buyers.
Threat of new substitutes: The threat of new substitutes is moderate as some substitute products like heated socks and beds are available. However, heated slippers have some unique features.
Competitive rivalry: The competitive rivalry is high among the established players.
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 indoor activities during winter.
Regional analysis: North America dominates the heated slippers market with the largest share due to harsh winters and increasing awareness. Asia Pacific is expected to exhibit the fastest growth aided by rising disposable incomes and growing winter wear industry in China and Japan.
Key players: Key players operating in the heated slippers market include ActionHeat, SMOKO, Snookiz, Volt Heat, Intelex, and ValueRays. ActionHeat leads the market with innovative product features. Snookiz focuses on trendy designs while ValueRays emphasizes on affordable options.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
