Western Wear Market By End User (Men, Women, Kids), By Type (Casual, Formal), By Distribution Channel (Online Platforms, Specialty Stores, Supermarkets, Hypermarkets, Brand Outlets), : Global Opportunity Analysis and Industry Forecast, 2020-2031
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 remote locations such as villages and mini-metros, providing potential opportunities for market expansion in the upcoming years.
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 to 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.
In addition, improvement in economic condition and growth in disposable income are significant factors that propel the growth of the western wear market. After the 2009 economic crisis in Europe and the economic crisis in China, the world economy witnessed a standstill. However, strong recovery from the crisis has led to notable economic growth, especially in the developing economies; this in turn has increased disposable income among the middle-income groups, especially in Asia-Pacific. Increase in disposable income has led to shift toward higher-quality, higher-price sub-segments within categories, as consumers in developing regions trade with greater frequency and enthusiasm. This in turn is expected to drive the growth of western wear market during the forecast period.
However, raw material suppliers play a significant role in the western wear market. Increase in cost of raw materials hampers the market growth. Environmental factors and stringent regulations imposed on quality of leather to be used in products have led to scarcity of supply of high-quality leather in the market. Thus, all these factors collectively lead to an increased cost of raw materials and restrain the growth.
The report segments the global western market on the basis of type, distribution channel, end user, and region. 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. Region wise, it is analyzed across 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.
KEY BENEFITS FOR STAKEHOLDERS
This report provides quantitative analysis of the current trends, estimations, and dynamics from 2020 to 2031, 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 End User
Men
Women
Kids
By Type
Casual
Formal
By DISTRIBUTION CHANNEL
Online Platforms
Specialty Stores
Supermarkets
Hypermarkets
Brand Outlets
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Aditya Birla Fashion and Retail Ltd. (ABFRL)
Hennes & Mauritz AB (H&M)
Marks & Spencer Plc
Bestseller (Vero Moda)
Inditex SA(Zara)
Benetton Group
crema diesel spa
Forever21 Inc.
GAP Inc.
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