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NEW YORK , May 9, 2022 /PRNewswire/ -- The "Consumer Shopping Cart Market by Product, Distribution Channel and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's latest offering. According to the report, the market will observe an incremental growth of USD 86.4 million between 2021 and 2026, expanding at a CAGR of 2.05% during the forecast period. APAC is identified as the key market in terms of revenue generation and the region will offer significant growth opportunities for market players.
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The global consumer shopping cart market is fragmented and is characterized by the presence of numerous large, small, and medium-sized manufacturers. Most of the large and established players have extensive sales and distribution networks globally, whereas most small players are concentrated in the regional markets. Vendors compete based on parameters such as price, quality, technology, brand identity, and distribution. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Advance Carts Inc., Americana Co., Bemis retail Solutions, Caper Inc., Changshu Jinsheng Metal Products Factory, Changshu Yirunda Business Equipment Factory, CREACIONES MARSANZ S.A, Foshan Yongchuangyi Shelf Manufacturing Co. Ltd., Guangdong Winleader Metal Products Co. Ltd., IMAGR Ltd., Kailiou Commercial Equipment Co. Ltd., National Cart Co., R.W. Rogers Co., Sambo Corp., Shanghai Rongxin PetProduct Co. Ltd., Suzhou Hongyuan Business Equipment Co. Ltd., The Peggs Co Inc., Unarco Industries LLC, Versacart Systems Inc., and Wanzl Metallwarenfabrik GmbH are identified as the dominant players in the market. Expanding retail space has been instrumental in driving the growth of the market. However, fluctuations in raw material prices might hamper the market growth.
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Consumer Shopping Cart Market 2022-2026: Segmentation
The global consumer shopping cart market is segmented as below:
The steel carts segment accounts for the largest share in the market. Steel carts are much more durable than any other variety of shopping carts. Also, these carts have a fixed welded lower tray, which makes less noise. Owing to such advantages, the demand for steel carts is increasing globally.
Direct sales refer to direct-to-consumer selling (DTC). DTC provides manufacturers with complete control over their brand quality, reputation, marketing, and sales tactics by eliminating the barrier between the producer and consumer. This makes the producers less vulnerable to the effects of external business decisions made by their distribution partners. Such benefits are driving the growth of the direct sales segment.
Europe will have the largest share of the market. The market in Europe is driven by the growing number of supermarkets and hypermarkets. Also, increased partnership agreements between consumer shopping cart manufacturers and retail stores are boosting the market growth in this region.
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Consumer Shopping Cart Market 2022-2026: Key Highlights
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Consumer Shopping Cart Market Scope
Accelerate at a CAGR of 2.05%
Europe, North America, APAC, Middle East and Africa, and South America
US, China, Australia, UK, and Germany
Leading companies, competitive strategies, consumer engagement scope
Advance Carts Inc., Americana Co., Bemis retail Solutions, Caper Inc., Changshu Jinsheng Metal Products Factory, Changshu Yirunda Business Equipment Factory, CREACIONES MARSANZ S.A, Foshan Yongchuangyi Shelf Manufacturing Co. Ltd., Guangdong Winleader Metal Products Co. Ltd., IMAGR Ltd., Kailiou Commercial Equipment Co. Ltd., National Cart Co., R.W. Rogers Co., Sambo Corp., Shanghai Rongxin PetProduct Co. Ltd., Suzhou Hongyuan Business Equipment Co. Ltd., The Peggs Co Inc., Unarco Industries LLC, Versacart Systems Inc., and Wanzl Metallwarenfabrik GmbH
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
6 Market Segmentation by Distribution Channel
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