Western Wear Market Increase in internet penetration

The global western wear market size was $71,132 million in 2016, and is expected to reach $99,423 million by 2023, registering a CAGR of 4.8% during the forecast period. Western wear is a category of clothing that defines its unique style by referring to the clothes worn in the 19th century Wild West. Western wear market can be broadly split into two categories, business wear or office wear, which includes formal shirts, trousers, suits, skirts, t-shirts, and dresses; and event-specific wear, which includes clothing worn at events such as weddings, proms, award ceremonies, and others. Latest trends, advent of e-commerce, increase in disposable income, rise in fashion consciousness among youth, shift in consumer preferences, and improved lifestyle have a positive impact on the market. Previously, the western wear market was restricted to the metros. However, it is witnessing growth in the remote locations such as villages and mini-metros, providing potential opportunities for market expansion in the upcoming years.

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Constant innovations and exposure to international fashion trends through social media websites such as Instagram, Tumblr, Pinterest, and Facebook are the major factors that fuel the growth of the global western wear market. In addition, rise in brand awareness, surge in demand for comfortable wear & better design at affordable prices, and increase in female working population with high disposable income act as the key drivers of the market. However, inability of the existing players to meet the consumer demands, due to ever-changing fashion trends hampers the market growth. Unavailability of raw material required to produce the fabric further and high cost of branded clothes restrain the growth of this market. Conversely, changing consumer preferences and increase in fashion consciousness among consumers are expected to provide ample opportunities for growth of this market. The evolution of fusion wear, which combines the attributes of ethnic wear with western wear, is also emerging as an additional opportunity for global western wear market.

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The report segments the global western market on the basis of type, distribution channel, end user, and geography. According to type, it is bifurcated into casual and formal wear. Depending on distribution channel, it is fragmented into online platforms, specialty stores, supermarkets, hypermarkets, and brand outlets. On the basis of end user, the market is segmented into men, women, and kids. Geographically, it is analyzed into North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and UAE).

The key players operating in western wear market are Benetton Group S.r.l., Dolce & Gabanna, Prada S.p.A, American Apparel Inc., Levi Strauss & Co, and Diesel S.p.A., Perry Ellis International Inc., Nautica Apparel, Inc., Burberry Group Plc., The Gap Inc., and PVH Corp.

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KEY BENEFITS FOR STAKEHOLDERS

This report provides quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023, which assist in identifying the prevailing market opportunities.
Major countries in each region are mapped based on the revenue contribution to the global market.
Market player positioning of the industry has been provided to provide a clear understanding of their competitive strengths.
Porter’s Five Forces analysis is used to illustrate the potential of suppliers and buyers in the global western wear industry.
Comprehensive analysis of factors that drive and restrict the growth of the western wear market is provided.
KEY MARKET SEGMENTS

By Type

Casual
Formal
By Distribution Channel

Online Platforms
Specialty Stores
Supermarkets
Hypermarkets
Brand Outlets
By End User

Men
Women
Kids

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This release was published on openPR.