Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Women Wear market.
Trusted Business Insights presents an updated and comprehensive analysis of Women Wear Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Women Wear market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Women Wear Market
The global Women Wear market size is projected to reach US$ 2001.56 billion by 2026, from US$ 1519.46 billion in 2020, at a CAGR of 4.7% during 2021-2026. The growth is attributed to growing female population, increasing number of working women, evolving fashion trends, and high spending power of consumers. Growing influence of social media and celebrities is driving the manufacturers to continuously introduce new designs and styles. Furthermore, brands have been dedicating endeavors to expand their consumer base, whether it is through e-commerce sites, offering discounts, celebrity endorsements, or customization of fashion to suit individual needs.
The improved ratio of women to men along with increasing number of working female population is impacting the market positively. According to the World Bank data, women comprise around 39% of workforce across the world. The number has seen an upward trend in last two decades, according to UN Women. With the feminine segment of the society having better access to and engagement with internet along with the independence of decision making, the manufacturers are continuously offer trendy products thereby contributing to the growth of the market.
Continuous innovation in clothing trends, celebrity endorsements, magazines dedicated to fashion statements are expected to boost the global women wear market. Furthermore, it is observed that brands not only are innovating the trends in general but are also focusing on introducing apparel, footwear, and accessories suitable for various occasions. Going a step ahead, trend for fashion specific to venues has been gaining increasing acceptance, majorly influenced by the celebrity endorsements such as the airport look, workout look, and others.
The boom in the e-commerce sector has been acting as a catalyst for the global market growth. The high-end brands which once were limited to the upper section of the society travelling to fashion destinations such as Milan and Paris have embraced women of all classes via the e-commerce channel. Women from all stratas of life can be seen indulging in fashion and trends. Ease of accessibility, payments, and easy return policies are all creating a push for the market.
Market Segmentation, Outlook & Viewpoint: Global Women Wear Market
Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
- Top Wear
- Bottom Wear
- Sports & Active Wear
- Intimates & Sleepwear
Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
Key Players, Recent Developments & Regional Insights: Global Women Wear Market
Women top wear held the largest market share of around 35% in 2018. This growth is driven by the availability of a wide variety of products. A random shopping website or a retail shop offers a wide range of shirt, tops, t-shirts, and other products. Availability of variety in terms of designs such as polos, ruffles and frills, wraps, asymmetric, tanks, and crops, among others, is projected to bode well for the growth. All these products are available in a variety of fabrics including silk, denim, cotton, shear, chiffon, crepe, georgette, rayon, leather, and faux among others.
To further compliment this diversity, clothing pattern comes into picture in the form of solids, prints, florals, polkas, checks, and stripes among others. The variety coupled with the trend for mix and match has been driving the growth. The changing trends have been creating a strong foothold among millennials, which is anticipated to further fuel the demand.
Distribution Channel Insights
Offline distribution channel accounted for the largest market share of more than 56% in 2018, driven by exposure and accessibility to the large number of shoppers. A certain section of the society, mostly Generation X, is not so comfortable with buying clothes online. There, unawareness regarding e-commerce, reliability on offline stores, and dependence on assisted shopping has created a customer base for the offline retail stores. Adding to this, season clearance sales and instant availability have been driving the popularity of offline distribution over the years.
Online distribution channel is expected to be expand at the fastest CAGR of 5.0% from 2019 to 2025, attributed to the availability of newest trends, rarest brands, and affordable prices with big discounts. Moreover, all this is available in just one click and comes along with suitable payment modes. This has been successfully drawing people towards making major benefits from it. In addition, most of these online shopping spaces have collaboration with various other banks, payment modes and offer extra discounts when payments are made using specific medium. Due to this, banks and other payment channels have been promoting themselves via these e-commerce websites, doing extra marketing and boosting the overall sales.
Europe is the largest shareholder in the market owing to economic independence of the female population and augmented fashion consciousness prevalent among its crowd. Further, the purchasing power parity in the region is higher than most others. Europe is home to the largest global brands such as Chanel, Dior, Lacroix, Gucci, Prada, Versace, and others. Thus, the region has a huge influence on the global sales.
Asia Pacific is anticipated to showcase the fastest CAGR of 5.5% during the forecast years. This scenario is credited to the growing establishment of offline and online players in the market. Furthermore, the increasing ability to pay for its requirements are adding to the growth.
Women Wear Market Share Insights
Some of the key players operating in the global market include Giorgio Armani S.p.A., MANOLO BAHNIK, DIOR, LOUIS VUITTON, Burberry, DOLCE & GABBANA S.R.L, PRADA, Guccio Gucci S.p.A., Chanel, and Gianni Versace S.r.l. The companies majorly focus on product launches and innovative ways of distribution to reach to a greater customer base. Continuously evolving customer preference have paved way for significant penetration of a large number of online retailers catering to specific or varied needs. Some of the popular e-retailers include FabAlley, Ajio, Asos, Koovs, Shein and others.
Key Insights Covered: Global Women Wear Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Women Wear industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Women Wear industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Women Wear industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Women Wear industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Women Wear industry.
Research Methodology: Global Women Wear Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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