General Manufactured Goods Global Market Report 2024

The general manufactured goods market size has grown strongly in recent years. It will grow from $1,048.66 billion in 2023 to $1,129.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth observed in the historical period can be ascribed to various factors, including economic cycles, globalization, regulatory modifications, and shifts in consumer trends.

The general manufactured goods market size is expected to see strong growth in the next few years. It will grow to $1,493.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be linked to several factors, including sustainability and environmental considerations, evolving demographics, the rise of e-commerce and digital sales, and the increasing prevalence of remote work and digital collaboration. Noteworthy trends expected in this period encompass the adoption of technology, the utilization of advanced manufacturing technologies, a focus on customization and personalization, and the utilization of collaborative robotics (cobots).

The anticipated growth in the general manufactured goods market is expected to be driven by the increase in household income. Household income refers to the combined gross monthly income of all household members. A general principle is that when aggregate demand rises, household wealth tends to increase, leading to higher disposable income, which, in turn, results in increased consumer spending on various goods, including general manufactured goods. According to May 2022 data from CNBC, an American news company, the fourth quarter of 2021 witnessed the household net worth of Americans surpassing $150 trillion for the first time. This increase occurred at a robust annual rate of 8.2% from the third quarter, marking the fastest rate of growth since the first quarter of 2020. Consequently, the rise in household income is expected to fuel the growth of the general manufactured goods market in the future.

The principal categories of general manufactured goods include jewelry and silverware, sporting and athletic goods, dolls, toys, games, office supplies (excluding paper), signs, and all other miscellaneous manufactured goods. Jewelry denotes ornamental items such as rings, bracelets, and chains that serve to adorn garments. These items are often crafted from precious metals like gold and are occasionally adorned with valuable gemstones. The distribution channels for these products encompass hypermarkets, supermarkets, convenience and departmental stores, specialty stores, online retail platforms, and various other avenues.

The general manufactured goods market research report is one of a series of new reports that provides general manufactured goods market statistics, including general manufactured goods industry global market size, regional shares, competitors with a general manufactured goods market share, detailed general manufactured goods market segments, market trends and opportunities, and any further data you may need to thrive in the general manufactured goods industry. This general manufactured goods market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The general manufactured goods market is expected to experience growth driven by increasing consumer demand. Consumer demand refers to the desire and willingness of consumers to buy goods and services in the market. Changes in consumer preferences and lifestyles have a significant impact on the demand for various manufactured products, ranging from consumer electronics to household appliances. For example, in August 2023, as reported by the U.S. Census Bureau, a government agency in the United States, new orders for manufactured goods rose by $6.7 billion (1.2%) to reach $586.1 billion, marking the fifth increase in the past six months. Additionally, shipments increased by $7.7 billion (1.3%) to $586.0 billion, continuing a positive trend for the fourth consecutive month. Consequently, it is expected that the general manufactured goods market will be propelled by the increasing consumer demand in the future.

Prominent companies in the market are placing a strong emphasis on the development of innovative products, such as the Apex Pro Series golf irons, to enrich their product portfolios and gain a competitive edge. The Apex Pro Series golf irons are renowned for their design, which focuses on delivering a blend of performance and tactile feedback that caters to highly skilled golfers. As an illustration, in August 2023, Topgolf Callaway Brands Corp., a sports equipment manufacturing company based in the United States, introduced the Callaway Apex Pro Series, which includes the Apex CB and MB irons, tailored to meet the requirements of elite golfers. The Apex Pro irons feature a hollow body design with two distinct faces, while the Apex CB and MB irons are single-piece forged models crafted from carbon steel. The CB variant incorporates tungsten toe weighting to enhance balance and overall performance. These irons harmonize technology and expert craftsmanship to elevate the performance and tactile experience for elite golfers on the golf course

The utilization of 3D printing in general manufacturing is increasingly widespread. 3D technology empowers manufacturers to fabricate fully self-supporting objects. This technology grants manufacturers the ability to manufacture intricate, lightweight, and dependable objects. Enhanced flexibility and the option for customization represent other significant benefits of 3D printing technology.

Major companies operating in the general manufactured goods market include Decathlon SA, Compagnie Financiere Richemont SA, The Lego Group, Hasbro Inc., Mattel Inc., Tiffany & Co., Pandora A/S, Newell Brands Inc., Berkshire Hathaway Inc., 3M Company, Kimberly-Clark Corporation, Procter & Gamble Co., Johnson & Johnson, General Electric Company, Siemens AG, Sony Corporation, Samsung Electronics Co. Ltd., LG Corporation, Nestle SA, The Coca-Cola Company, PepsiCo Inc., Unilever PLC, The Hershey Company, Mondelez International Inc., Kellogg Company, Campbell Soup Company, Colgate-Palmolive Company, The Clorox Company, The Goodyear Tire & Rubber Company, Whirlpool Corporation, Electrolux AB, Nike Inc., Adidas AG, Under Armour Inc., VF Corporation, Levi Strauss & Co., The Gap Inc., Hanesbrands Inc., Ralph Lauren Corporation, PVH Corp.

Asia-Pacific was the largest region in the general manufactured goods market in 2023. Western Europe was the second largest region in the general manufactured goods market. The regions covered in the general manufactured goods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the general manufactured goods market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The general manufacturing goods market consists of sales of apparel, fabrics, wood products, and plastic products. creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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