New York, United States , June 20, 2023 (GLOBE NEWSWIRE) -- The Global Direct Selling Market Size is to grow from USD 238.56 Billion in 2022 to USD 479.15 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.2% during the projected period.
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Direct selling is a business model in which a party buys products from a parent firm and sells them directly to customers. This could be single-level marketing, in which a direct seller earns money solely from sales, or multi-level marketing, in which the direct seller earns money from both direct sales to clients and by promoting new independent marketers and gaining a share of their marketing profits. Direct selling, according to some sources, is the direct human presentation, demonstration, and sale of goods and services to people, generally in their homes or workplaces. The global direct selling market is rising as a result of the increased consumer need to inspect and authenticate a product before purchasing it. Direct selling is a dynamic and quickly growing distribution channel for both goods and services. Furthermore, increased awareness of dynamic sales tactics that do not require resellers is expected to generate profitable chances for the direct selling sector.
Browse key industry insights spread across 200 pages with 130 Market data tables and figures & charts from the report on "Global Direct Selling Market Size, Share, and COVID-19 Impact Analysis, By Type (Single-Level Marketing, Multi-Level Marketing), By Product (Health & Wellness, Cosmetics & Personal Care, Household Goods & Durables, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032". Get Detailed Report Description Here:
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The multi-level marketing segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global direct selling market is segmented into the single-level marketing and multi-level marketing. Among these, the multi-level marketing segment is dominating the market with the largest revenue share of 58.6% over the forecast period. Multi-level marketing provides significant earnings potential for business owners with less risk and may be easier to manage without putting all of the responsibilities on the primary proprietor. Furthermore, the cost of starting a multi-level marketing business is relatively low, which is a major motivator in the direct selling industry.
The cosmetics & personal care segment accounted for the largest revenue share of more than 37.2% over the forecast period.
On the basis of product, the global direct selling market is segmented into health & wellness, cosmetics & personal care, household goods & durables, and others. The cosmetics and personal care segment lead the market with a 37.2% revenue share over the forecast period, owing to increasing consumer preference for premium cosmetic and beauty care products such as beauty devices, make-up, essential oils, moisturizers, hair and skin care products, and perfumes, among others. Rising disposable income, rapid urbanization, expanding direct selling cosmetic companies, and rising product developments are expected to drive the market throughout the forecast period.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 48.7% market share over the forecast period. This rise can be attributed to higher healthcare and cosmetics spending. Direct sellers are fast gaining traction in emerging economies, particularly in lower-income areas of China, India, and Indonesia. Consumers in the Asia Pacific are increasingly concerned about their health and beauty. Losing weight, taking vitamins, and using natural skin care products are just a few of the items that are gaining popularity among customers.
North America is expected to grow the fastest during the forecast period.
On the other hand, North America is predicted to expand the fastest during the forecast period. This can be attributed to the presence of numerous gamers in the region, as well as a growing proclivity for direct selling for additional income choices. Due to the emergence of direct selling as a major way of marketing in growing economies such as Mexico, the Latin American market is expected to grow at a high CAGR over the projected period. Meanwhile, Europe has a substantial share of the market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Direct Selling Market include Amway Enterprises Pvt. Ltd., Herbalife Nutrition Ltd., Avon Products, Inc., Vorwerk, Nu Skin Enterprises, Tupperware Brands Corporation, Oriflame Holding AG, Belcorp, Mary Kay Inc., Cutco Corporation, Forever Living Products, Vestige Marketing Pvt. Ltd., Primerica, Inc., Arbonne International, LLC, Monat Global Corp., DXN Global, Isagenix International LLC, and among others.
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Recent Developments
On May 2023, Pure Romance has declared that it is "shifting away from a multi-level sales model" in favor of an omnichannel marketing approach This decision is part of a broader goal to unify the customer experience across all channels and touchpoints, including the company's consultant base and website.
On November 2022, Rise Bar and Oola have been acquired by USANA Health Sciences, Inc. Rise Bar and Oola will continue to operate independently, but USANA will provide assets and resources to assist the firms in growing, while also leveraging the current companies' expertise and technologies to develop its core USANA business. Rise Bar makes high-quality protein bars with clean and simple ingredients, whereas Oola is a new direct selling firm that focuses on assisting consumers in creating a personal development framework that promotes balance, growth, and purpose.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Direct Selling Market based on the below-mentioned segments:
Direct Selling Market, Type Analysis
- Single-Level Marketing
- Multi-Level Marketing
Direct Selling Market, Product Analysis
- Health & Wellness
- Cosmetics & Personal Care
- Household Goods & Durables
- Others
Direct Selling Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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