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.
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.
- MANGO BCN
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WESTERN WEAR MARKET, BY TYPE
CHAPTER 5: WESTERN WEAR MARKET, BY END USER
CHAPTER 6: WESTERN WEAR MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: WESTERN WEAR MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Western Wear Market,' the western wear market was valued at $74,497.50 million in 2020, and is estimated to reach $136,881.41 million by 2031, growing at a CAGR of 5.37% from 2022 to 2031.Europe dominated the global western wear market in 2020, accounting for three-sevenths share of the total revenue.
Western wear is defined as a category of men's and women's clothing, consisting of informal or tailored formal garments with western accents. Some of the western wear includes shirts, coats, hats, and trousers among others. The report focuses on the types of products such as casual and formal clothes. 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.
Online sales have evolved as a key source of revenue for western wear brands. The online sales market is expected to expand at a high growth rate in the near future, due to rapid increase in online and mobile user customer bases in emerging markets, rise in m-commerce sales, improvement in logistics services, and ease in payment options. The e-commerce market in Asia-Pacific is expected to grow at a steady rate in the future. This presents a major opportunity for the western wear market during the forecast period, fueling the growth of the market.
The formal wear segment is expected to dominate the western wear market share 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 Study
- In terms of value, the formal wear segment is expected to grow at a CAGR of 4.8% during the forecast period.
- Asia-Pacific is expected to dominate, registering highest CAGR of 6.6%, in terms of value. Europe is projected to maintain its position throughout 2031, growing at a CAGR of 4.1%, in terms of value.
- The online platforms segment is estimated to account for more than one-fourth share of the total market in 2020.
- China and Japan collectively accounted for approximately $ half of the total Asia-Pacific western wear market in 2020.
- In the global western wear market, India is expected to grow at a CAGR of 8.0%, in terms of value.
- In 2020, 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.
Companies Mentioned
- 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.
- MANGO BCN
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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