Winter Wear Market Growth & Trends
The global winter wear market size is expected to reach USD 359. 8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period. Rise in demand for winter wear products due to dropping temperature in many regions, along with rise in purchasing power of consumers, is anticipated to drive the market over the forecast period.
The market is driven by the use of the attractive and trendy lifestyle patterns such as hoodies, cardigans, and V neck wears. Rise of the offline channels such as fashion stores, design stores, and specialty stores have contributed altogether to the sales and offers of the products in the market. Moreover, changing fashion trends and frequent travelling by many people to cooler places for vacation and work purpose are also likely to drive the global market over the forecast period.
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Winter wear products in North America are anticipated to ascend due to the rise in the sales of winter wear products, especially among women. Moreover, the attractive offers in the women winter wear segment due to high demand for the product innovations in the scarves and shawls category has added to the growth of the regional market. In U.S., the sales of the scarves and shawls segment was USD 2.5 billion in 2018 and is expected to witness significant growth in the neat future.
Rise in demand for winter wear products among consumers due to increase in global warming conditions, thereby lowering the weather temperature across the regions. However, growth in the distribution channel across the apparel sector is anticipate to formulate the demand for the product over the forecast period. Rise in purchasing power of consumers, along with demand for the premium and branded products among different end users, drives the market.
However, sudden changes in weather, along with depreciating environmental conditions, have increased the sales of winter wear clothing across different sectors. Moreover, shift in consumer preferences from conventional towards newly arrived apparels, along with attraction towards light weighted winter wear products, has fueled its growth.
Winter Wear Market Report Highlights
• By product, sweaters and cardigans are projected to ascend at a CAGR of 5.6% over the forecast period
• By end user, the men segment dominated the global winter wear market with an overall share of 45.0% in 2018
• Asia Pacific dominated the global market in 2018 and accounted for 35.2% share of the overall revenue. This trend is projected to continue over the next few years
• Due to increasing disposable income in India, South Korea, China, and Japan, the market in Asia Pacific is anticipated to witness growth in the coming years
• The industry is highly competitive in nature with the main players including Gap Inc.; VF Corporation; Columbia Sportswear Company; The North Face, Inc.; Patagonia, Inc.; and Zara SA
• Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments
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Winter Wear Market Segmentation
Grand View Research has segmented the global winter wear market on the basis of product, end user, and region:
Winter Wear Product Outlook (Revenue, USD Billion, 2015 - 2025)
• Coats & Jackets
• Sweaters & Cardigans
• Shawls & Scarves
• Others
Winter Wear End User Outlook (Revenue, USD Billion, 2015 - 2025)
• Men
• Women
• Children
Winter Wear Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o Japan
• Central & South America
o Brazil
• Middle East & Africa
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.