Women Wear Market Size, Share & Trends Analysis Report By Type, By Category (Mass, Premium, Luxury), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2024 - 2030

Women Wear Market Size, Share & Trends Analysis Report By Type, By Category (Mass, Premium, Luxury), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2024 - 2030

Women Wear Market Growth & Trends

The global women wear market size is expected to reach USD 1,325.90 billion by 2030, registering a CAGR of 3.4% during the forecast period, according to a new report by Grand View Research, Inc. Rising fashion consciousness, constantly changing trends coupled with strong inclination towards following these trends are the key factors driving the market. Furthermore, increase in the number working women leading to increased spending on apparels is anticipated to drive the growth.

Asia Pacific held the largest revenue share in the global women wear market. This region is expected to witness significant demand in the forthcoming years due to increasing awareness among women to keep up with the latest fashion trends, rise in disposable income, and increasing investments by foreign brands in the form of new outlets. Availability of women wear by local manufacturers and designers at a cheaper rate is expected to remain a prominent factor in benefiting the growth. The market is mainly driven by the presence of strongly developing economies such as China and India, where the spending power of the population is also witnessed rising rise.

Europe is anticipated to grow at a significant CAGR over the forecast period. U.K., Germany, Italy, and France are the prominent markets in this region. The growing fashion trends usually originate from Europe along with the use of designer apparels makes it the largest market for women apparels. The presence of premium companies such as Armani, Gucci, and Zara SA makes this region even more significant due to high demand for these brands.

North America is expected to register significant growth over the forecast period. This growth is attributed by the high spending capacity of the population in developed economies such as U.S. The strong foothold and goodwill of branded companies such as Nike, Tommy Hilfiger, and Levis Strauss & Co. has made North America account for a considerable market share.

The footwear segment is anticipated to witness slight decline owing to high penetration of many industry players. The active participation of women in sports is a key factor driving the sports apparels and footwear demand across the globe. Especially in developing and under-developed countries the governments are encouraging more participation of women in sports and other fitness related activities, which in turn is projected to bode well for the market growth.

In terms of distribution channel, the offline segment accounted for the highest market share as majority of consumers want to personally scan the product first by trying it on, material used, and color preferences. Also, the high demand for designer apparels and footwear is one of the key reason fueling the growth of this segment. The emergence of online portals such as Myntra, Amazon, Flipkart, and others along with increasing preference of consumers for online purchase due to many value added services such as Cash on Delivery, free trials and returns, and doorstep delivery.

Women Wear Market Report Highlights

• Based on type, casual wear segment dominated the market with a revenue share of 35.9% in 2023.
• By category, the luxury segment is expected to register the fastest CAGR during the forecast period. The desire for status symbols and high-quality craftsmanship drives demand for luxury apparel.
• In 2023, the offline segment accounted for the largest market revenue share, and the online segment is expected to register the fastest CAGR during the forecast period.

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