The Winter Wear Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.
Market Insights
The global winter wear market size is projected to touch USD 359.8 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 4.3% from 2019 to 2025. Factors such as the growing consumer spending on apparels and dropping temperatures in many countries are projected to fuel the market growth over the estimated period.
Growing preference for fashionable apparel such as cardigans, V neck and hoodies is driving the market. Also, the growth of offline distribution networks such as specialty stores, fashion stores and design stores have contributed significantly in augmenting the sales of the product. Further, customer tendency to travel in snowy destinations and changing fashion trends are positively affecting the market growth in the upcoming years.
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Women are the leading consumers of winter wear products especially scarves and shawls in North America. The lucrative discounts and attractive offers available on women winter wear products due to growing demand has propelled the product growth. The growing preference for shawls and scarves is also encouraging manufacturers in continuous product innovation. In the U.S. shawls and scarves category touched USD 2.5 billion in 2018 and is predicted to showcase substantial growth in the coming years.
An increase in global warming and greenhouse gases has resulted in lowering the temperature in many regions resulting in the growing demand for winter wear apparel. Also, the rapidly developing distribution network, rising per capita income and growing demand for branded and high-end products by different customers group are propelling the winter wear market growth over the forecast period.
Abrupt changes in weather conditions due to environmental degradation, have supplemented the sales of winter wear apparel as customers tend to wear cozy products according to changing climatic conditions. Additionally, growing preference for newly launched fashionable products along with lightweight apparel over conventional ones has positively affected the demand for the product.
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
Leading Players Analysis covered in these report
• Zara
• Columbia Sportswear Company
• GAP
• VF Corporation
• The North Face
• Crew Group and many others
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In 2018, Asia Pacific led the winter wear market with a 35.2% share. Factors such as the growing preference for innovative winter wear apparel and increasing population in nations such as India and China are driving the growth of the regional market. Also, changing weather pattern in Southeast Asian countries leads to the growing demand for this apparel.
The Middle East & Africa is projected to expand with a CAGR of 7.6% in the forecast duration. Nations such as UAE, South Africa, and Saudi Arabia are the leading consumers of fashionable winter wear apparel. South Africa accounted for per person revenue of approx. USD 5.0 from winter wear in 2018. Further, a drastic fall in temperature in the African nations is projected to contribute positively to the growth of the regional market in the upcoming years.
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