The latest report by IMARC Group, titled “Subscription Box Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global subscription box market is expected to grow at a CAGR of 17.83% during 2023-2028. A subscription box is a service that involves the auto-delivery of niche products on a recurring basis. It contains a combination of products that are either customized as per consumer preference or randomly selected by the service provider. In recent years, subscription box has gained immense popularity among consumers due to its unique features, such as surprise or mystery items inside the box, aesthetic representation of the contents, and timely delivery of the package, on a monthly, quarterly, half-yearly, or yearly basis. Owing to these benefits, subscription box is extensively adopted across food and beverages (F&B), personal grooming and hygiene, health and fitness, childcare, apparel, books, and pet care industries.
Global Subscription Box Market Trends:
The market is primarily driven by the expanding e-commerce industry. In addition, the growing influence of social media platforms and celebrity endorsements on consumer lifestyle represent another major growth-inducing factor. Besides this, various social media startups are launching subscription boxes to create brand awareness, maintain consistent revenue, and promote built-in marketing. They are also collaborating with social media bloggers, vloggers, and influencers to promote their products. This, coupled with the introduction of long-term subscription services by key market players to develop customer loyalty and cater to specific consumer tastes and preferences, is creating a positive market outlook across the globe. Moreover, the growing consumer inclination toward personalized shopping and curated items, the introduction of free product trials by luxury brands to encourage the adoption of subscription boxes, and the rising disposable incomes of consumers are some of the other factors expected to propel market growth in the coming years.
- Based on the type, the market has been classified into replenishment, curation, and access subscriptions.
- On the basis of gender, the market has been bifurcated into male and female.
- Based on the application, the market has been segregated into clothing and fashion, beauty, food and beverages, pet food, baby products, health and fitness, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report, with some of the key players being Amazon Subscribe & Save (Amazon.com, Inc.), BarkBox, Birchbox, Blue Apron Holdings Inc., Dollar Shave Club, Inc. (Unilever plc), FabFitFun, Glossybox (The Hut.com Ltd.), Grove Collaborative Inc., Harry’s Inc., HelloFresh SE, Loot Crate, Personalized Beauty Discovery Inc. and TechStyle Fashion Group.
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