Western Wear Market by Type (Casual and Formal), Distribution Channel (Online Platforms, Specialty Stores, Supermarkets, Hypermarkets, and Brand Outlets), and End User (Men, Women, and Kids)

According to a new report published by Allied Market Research titled, Western Wear Market by Type, Distribution Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," 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% from 2017 to 2023. Europe dominated the global western wear market in 2016, accounting for three-sevenths share of the total revenue.

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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 in 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.

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The report segments the global western market on the basis of type, distribution channel, end user, and geography. 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. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The formal wear segment dominated the global market in 2017, in terms of revenue. However, the casual wear segment is expected to witness a significant growth rate during the forecast period. At present, the demand for chinos, brightly colored trousers, and fashionable shirts is outpacing sales of formal shirts and trousers, partly due to preference of semi-formal apparel at work.

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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.

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 opportunities in the global western wear market.
• 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 industry.
• Comprehensive analysis of factors that drive and restrict the market growth is provided.

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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