Western Wear Market by Type, Distribution Channel, and End User - Global Opportunity Analysis and Industry Forecast, 2016-2023

  • ID: 4580540
  • Report
  • Region: Global
  • 210 pages
  • Allied Analytics LLP
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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.

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.

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.

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

By Geography

North America
U.S.
Canada
Mexico
Europe
Germany
Italy
France
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Australia
India
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
UAE
Saudi Arabia
Rest of LAMEA
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CHAPTER 1: INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. SNAPSHOT
2.2. CXO PERSPECTIVE

CHAPTER 3: MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTER'S FIVE FORCE ANALYSIS
3.4. MARKET PLAYER POSITIONING, 2016
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Economic growth
3.5.1.2. Rapid urbanization
3.5.1.3. Increase in internet penetration
3.5.2. Restraint
3.5.2.1. High cost of raw materials
3.5.3. Opportunity
3.5.3.1. Growth of Asia-Pacific and LAMEA economies

CHAPTER 4: WESTERN WEAR MARKET, BY TYPE
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. Casual
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market size and forecast, by country
4.3. Formal
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market size and forecast, by country

CHAPTER 5: WESTERN WEAR MARKET, BY DISTRIBUTION CHANNEL
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. Online Platforms
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market size and forecast, by country
5.3. Specialty stores
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market size and forecast, by country
5.4. Supermarkets
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market size and forecast, by country
5.5. Hypermarkets
5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market size and forecast, by country
5.6. Brand outlets
5.6.1. Key market trends, growth factors, and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market size and forecast, by country

CHAPTER 6: WESTERN WEAR MARKET, BY END USER
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. Men
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market size and forecast, by country
6.3. Women
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market size and forecast, by country
6.4. Kids
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market size and forecast, by country

CHAPTER 7: WESTERN WEAR MARKET, BY REGION
7.1. OVERVIEW
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast
7.2.2.1. U.S.
7.2.2.2. Canada
7.2.2.3. Mexico
7.3. Europe
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast
7.3.2.1. UK
7.3.2.2. Germany
7.3.2.3. France
7.3.2.4. Italy
7.3.2.5. Spain
7.3.2.6. Rest of Europe
7.4. Asia-Pacific
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast
7.4.2.1. China
7.4.2.2. India
7.4.2.3. Japan
7.4.2.4. Australia
7.4.2.5. South Korea
7.4.2.6. Rest of Asia-Pacific
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast
7.5.2.1. Brazil
7.5.2.2. Argentina
7.5.2.3. UAE
7.5.2.4. Rest of LAMEA

CHAPTER 8: COMPANY PROFILES
8.1. Aditya Birla Fashion and Retail Ltd. (ABFRL)
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments
8.2. Benetton Group
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Business performance
8.3. Diesel SpA
8.3.1. Company overview
8.3.2. Company snapshot
8.3.3. Operating business segments
8.4. Forever21 Inc.
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Key strategic moves and developments
8.5. GAP Inc.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Business performance
8.5.5. Key strategic moves and developments
8.6. Hennes & Mauritz AB (H&M)
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments
8.7. MANGO
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating product categories
8.7.4. Key strategic moves and developments
8.8. Marks and Spencer Plc.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments
8.9. Bestseller (Vero Moda)
8.9.1. Company overview
8.9.2. Company snapshot
8.10. Inditex SA(Zara)
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Business performance
8.10.5. Key strategic moves and developments
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According to A new report titled,titled, Western Wear Market by Type, Distribution Channel, and End Userlobal 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.

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.

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.

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.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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