Western Wear Market Research, 2031
The global Western Wear Market Size was valued at $74,497.50 million in 2020, and is projected to reach $136,881.41 million by 2031, growing at a CAGR of 5.37% from 2022 to 2031. Western wear is a clothing style derived from 19th century American old west region. Jeans, t-shirts, and jackets are the prevalent clothing forms of this style among men and women. This category of clothes is widely accepted by many cultures, as they offer comfort, durability, and variety.
Factors such as growth of the population and e-retail industry, increase in disposable income of consumers, and surge in fashion consciousness among end users have a positive impact on the global western wear industry. Earlier, western wear was restricted to metropolitan regions only; however, owing to rapid globalization, increased brand awareness, and larger consumer group, the demand is increasing across all regions. Social media trends primarily drive the global western wear market, as this form of media is used by the young fashion-conscious individuals. Fluctuations in western wear trends are caused by celebrities, fashion bloggers, and channels on social media, which act as trend setters. However, high cost of branded clothes, dynamic fashion trends, and unavailability of raw materials are expected to restrain growth of the western wear market. Nonetheless, casual wear is gaining traction among consumers, presenting major opportunities for market expansion. Online platforms are preferred to purchase western wear, as they provide attractive offers and vast availability of apparels. In addition, quick delivery service and flexible return policies offered by online sites propel sales through this platform.
In addition, Asia-Pacific has emerged as one of the largest growing markets for western wear. Economic growth in several countries in LAMEA boosts the western wear market growth. In addition, an increase in the number of millennial is projected to drive the western wear market. Therefore, the untapped regions in Asia-Pacific and LAMEA are expected to offer major growth prospects in the coming years.
Segment Review
The report segments the global western market on the basis of type, distribution channel, end user, and region. Based on type, the market is bifurcated into formal and casual. On the basis of distribution channel, it is divided into online platforms, specialty stores, supermarkets, hypermarkets, and brand outlets. End users of western wear include men, women, and kids. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the formal wear segment has the maximum western wear market share in 2020, in terms of revenue. However, the casual wear segment is expected to witness a significant growth rate during the western wear market forecast. At present, the demand for chinos, brightly colored trousers, and fashionable shirts is outpacing sales of formal shirts and trousers, partly due to preference for semi-formal apparel at work.
Based on end user, the men segment is progressing at a rapid growth rate than the women segment. Fashion designers have always been experimenting with women’s fashion in terms of material, design, and pallet. Thus, the women segment has dominated not only the global fashion market, but also the western wear market.
Based on distribution channel online platforms are likely to be the fastest growing segment in the forthcoming time period.
Based on region, Asian countries, such as China and India, possess a large number of youth population. This fashion-conscious population is expected to lead to surge in demand for western wear. Formal western wear is mandatory for employees in numerous organizations located in this region; however, few organizations have shown acceptance of casual western wear. Exponential growth in the number of potential buyers in India is expected to drive the western wear market market growth.
Major players operating in the global western wear market are Benetton Group S.r.l., Diesel S.p.A., The Gap Inc., Aditya Birla Fashion and Retail Ltd. Bestseller, Forever21, Inc., Marks and Spencer plc., Hennes & Mauritz AB, MANGO, and Inditex SA.
Other western apparel brands in the value chain include Gianni Versace S.p.A., Chanel S.A. LVMH Moët Hennessy Louis Vuitton SE., and Hermès International S.A.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the western wear market analysis from 2020 to 2031 to identify the prevailing western wear market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the western wear market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global western wear market size.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global western wear market trends, key players, market segments, application areas, and market growth strategies.
Western Wear Market Report Highlights
| Aspects | Details |
 By End User |
|
 By Type |
|
 By DISTRIBUTION CHANNEL |
|
 By Region |
|
 Key Market Players | GAP Inc., Inditex SA(Zara), Forever21 Inc., Marks & Spencer Plc, MANGO BCN, crema diesel spa, Hennes & Mauritz AB (H&M), Aditya Birla Fashion and Retail Ltd. (ABFRL), Benetton Group, Bestseller (Vero Moda) |
Analyst Review
The western wear industry has witnessed steady growth in the recent years. Manufacturers currently focus on the Asian countries, such as India and China, to expand their foothold due to the maturity of the North American and European markets. Thus, most of the companies have shifted their production plants to China and other Asia-Pacific countries to reduce the manufacturing costs. This shift is projected to draw the companies closer to their target market.
Upsurge in population and improvement in economic conditions of countries such as India, China, Russia, and Brazil, have accelerated the growth of the western wear market. The adoption of branded products is increasing in the developing regions, as consumers have focused on using high-quality products during the past few years.
$5,769 is the total market value of western wear market report.
From 2022-2031 would be forecast period in the market report
$79.7 billion is the market value of western wear market in 2021
2020 is base year calculated in the western wear market report
Benetton Group S.r.l., Diesel S.p.A., The Gap Inc., Aditya Birla Fashion and Retail Ltd. Bestseller, and Forever21, Inc. are the top companies hold the market share in western wear market
Casual wear is the most influencing segment growing in the western wear market report
Factors such as growth of the population and e-retail industry, increase in disposable income of consumers, and surge in fashion consciousness among end users some of the key trends in western wear market
8.0% & 7.1% are the growth rate of the emerging countries.
Loading Table Of Content...
