Global Western Wear Market Expected to Reach $99,423 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, April 5, 2018 /PRNewswire/ --
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.
(Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg )
Western wear is a comfortable unique apparel segment derived from American old west region of the 19th century. Growth of disposable income and expansion of apparel e-retailing have led to surge in demand for western wear clothing. Increase in youth population and fashion consciousness among consumers fuels this market growth. Dynamic fashion trends cause a decline in sale of existing clothing; thus, in order to cope up, clothing brands are focusing on sponsoring fashion events and celebrity wardrobes to set specific fashion trends. Manufacturers collaborate with packaging companies to offer innovative packaging for clothing such as biodegradable barrier tray, which is expected to drive the market growth in the near future.
Request for Sample Report at: https://www.alliedmarketresearch.com/request-sample/4568
The formal wear segment is expected to dominate the western wear market during the forecast period. However, casual wear is expected to gain significant attention by consumers belonging to different cultures.
Luxury brand awareness and social media trends are anticipated to drive the growth of western wear market over the forecast period. E-retail is one of the major factors that propels growth of western wear market, as this channel makes products available to consumers across various regions. Correspondingly, social media platform provides emerging new fashion trends, thus increasing promotion and product awareness.
Key findings of the Western Wear Market:
- In terms of value, the formal wear segment is expected to grow at a CAGR of 4.40% during the forecast period.
- Asia-Pacific is expected to dominate, registering highest CAGR of 6.2%, in terms of value. Europe is projected to maintain its position throughout 2023, growing at a CAGR of 3.8%, in terms of value.
- The online platforms segment is estimated to account for more than one-fourth share of the total market in 2016.
- China and Japan collectively accounted for approximately half of the total Asia-Pacific western wear market in 2016.
- In the global western wear market, India is expected to grow at a CAGR of 12.2%, in terms of value.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/4568
In 2016, Europe accounted for approximately one-third share of the total western wear market, and is expected to maintain its position during the forecast period. Developing lifestyle and rise in disposable income of consumers are expected to drive the Asia-Pacific market.
Some of the major players operating in the western wear industry 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 such as Gianni Versace S.p.A., Chanel S.A. LVMH Mot Hennessy Louis Vuitton SE, and Herms International S.A. are gaining popularity among the youth population, propelling growth of western wear market.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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.
Contact:
Shriram Dighe
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Share this article