Fashion Luxury Cashmere Clothing Market REPORT OVERVIEW
- Request a Free Sample to learn more about this report
The global fashion luxury cashmere clothing market size was USD 2912.9 million in 2021 and market is projected to touch USD 3924.4 million by 2031, at a compound annual growth rate (CAGR) of 3.0% during the forecast period.
Fashion luxury cashmere clothing is usually made from cashmere yarn. The clothing includes coats, sweaters, trousers, and other garments.
Increased awareness about the benefits of cashmere clothing and the high need for luxury clothing is anticipated to surge market growth. The clothing material is made of wool from cashmere goats. The material is known for its warmth, softness, and durability. Also, it provides a luxurious feel and comfort. Such advantages of the product are estimated to surge market growth. Growing awareness about fashion trends and increased per-capita income among consumers are predicted to drive market growth. A rise in urbanization and the massive adoption of stylish and luxury apparel are projected to fuel market progress in the forthcoming years. On the contrary, the high cost associated with the clothing is anticipated to hamper market growth in the upcoming years.
COVID-19 Impact: Closure of Clothing Industries and Halt in Production Activities to Hamper Market Growth
The Coronavirus pandemic significantly influenced the fashion luxury cashmere clothing market. Lockdown restrictions and social distance protocols affected the market growth. The closure of clothing industries and the shutdown of malls minimized market growth. Furthermore, lower demand for clothing materials and a halt in production activities due to the closure of manufacturing units. These factors affected market growth.
LATEST TRENDS
"Rise in Popularity for Comfortable Clothing to Incite Market Growth "
Massive acceptance and rise in popularity for comfortable clothing are anticipated to surge market growth. The clothing material is made of wool from cashmere goats. The material is known for its warmth, softness, and durability. Also, it provides a luxurious feel and comfort. Such advantages of the product are estimated to surge market growth. Increasing digitalization and huge marketing & adverting of the material are anticipated to propel market progress. The growing popularity of clothing material among the millennial population and an increase in the millennial population globally are projected to drive market progress. Growth in the clothing sector, coupled with a significant investment by prominent market players, is predicted to incite fashion luxury cashmere clothing market growth.
Fashion Luxury Cashmere Clothing Market SEGMENTATION
- Request a Free Sample to learn more about this report
- By Type
Based on type, the market is divided into sweaters, coats, trousers, dresses, and other.
Sweater is expected to be the leading part of the segmentation type.
- By Application
Based on the application, the market is divided into children, women, and men.
Children are expected to be the leading part of application segmentation.
DRIVING FACTORS
"Growing Fashion Trends among Population to Accelerate Market Growth"
Increasing demand for fashion trends among the population and increased popularity of the product among all age groups is anticipated to foster market growth. The clothing can be worn by men, women, and children. The product has several advantages, such as lightweight, elegance, softness, insulation, moisture wicking, comfort, and breathable. These advantages of clothing are anticipated to attract colossal customers over the forecast period. Also, the product is considered as best of all-natural fibers, and it has fire-resistance properties. These factors are predicated on influencing the product as a smart investment. In addition, the influence of big names and celebrities coupled with advanced marketing strategies among key players is anticipated to drive market growth.
"High Spending Power and Growing Demand for Luxury Clothing to Surge Market Growth "
Increased spending power and a growing number high-class population are projected to accelerate market growth. Huge customer preference for luxury items such as designer shoes, clothes, handbags, and jewelry. Also, the high demand for status symbols and social position in today’s society is anticipated to fuel market growth. Change in lifestyle and consumer inclination towards luxury clothing is projected to surge market progress. Further, increased disposable income, and the clothing is mostly by parents for its properties. The increased trend for designer clothes and it growing awareness about the features and high quality of the material such as wrinkle-resistance, no scratchiness, hypoallergenic, and waterproof. These factors are predicted to expand market growth in the upcoming years.
RESTRAINING FACTORS
"The high cost associated with +clothing is anticipated to hamper market growth in the upcoming years."
Fashion Luxury Cashmere Clothing Market REGIONAL INSIGHTS
- Request a Free Sample to learn more about this report
"Growing Demand for Luxury Clothing in Asia Pacific to Drive Market Share"
Asia Pacific is estimated to dominate the fashion luxury cashmere clothing market share due to increased demand for luxury clothing in China and India. A rise in disposable income and growing consumer awareness about the quality of the product are predicted to drive market growth. The clothing material is made of wool from cashmere goats. The material is known for its warmth, softness, and durability. Also, it provides a luxurious feel and comfort. Such advantages of the product are estimated to surge market growth. Growing awareness about fashion trends coupled with increased per-capita income among consumers is predicted to drive market growth. A rise in urbanization and the vast adoption of stylish and luxury apparel are projected to fuel market progress in the forthcoming years.
Europe is projected to witness a lucrative growth opportunity owing to a rise in disposable income and a shift in purchasing choices among the population. Growing number high-class population is projected to accelerate market growth. Huge customer preference for luxury items such as designer shoes, clothes, handbags, and jewelry. Also, the high demand for status symbols and social positions in today’s society is anticipated to fuel market growth
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Loro Piana (Italy)
- Brunello Cucinelli (Italy)
- Ermenegildo Zegna (Italy)
- Malo (Italy)
- Alyki (Italy)
- Pringle of Scotland (Scotland)
- Sofia Cashmere (U.S.)
- Autumn Cashmere (U.S.)
- TSE (U.S.)
- Ballantyne (Italy)
- Birdie Cashmere (U.K.)
- Maiyet (U.S.)
- Gobi (Germany)
- Cashmere Holding (China)
- Erdos Group (China)
- Hengyuanxiang (China)
- Kingdeer (China)
- Snow Lotus (China)
- Zhenbei Cashmere (China)
- GOYO
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 2912.9 Million in 2021 |
Market Size Value By |
US$ 3924.4 Million by 2031 |
Growth Rate |
CAGR of 3% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
-
What value is fashion luxury cashmere clothing market expected to touch by 2031?
The global fashion luxury cashmere clothing market size is expected to reach USD 3924.4 million by 2031.
-
What CAGR is fashion luxury cashmere clothing market expected to exhibit by 2031?
The fashion luxury cashmere clothing market is expected to exhibit a CAGR of 3.0% by 2031.
-
Which are the driving factors of the fashion luxury cashmere clothing market?
Drivers of this fashion luxury cashmere clothing market are growing fashion trends among population and high spending power and growing demand for luxury clothing.
-
Which are the top companies operating in the fashion luxury cashmere clothing market?
Loro Piana, Brunello Cucinelli, Ermenegildo Zegna, Malo, Alyki, Pringle of Scotland, SofiaCashmere, Autumn Cashmere, TSE, Ballantyne, Birdie Cashmere, Maiyet, Gobi, GOYO, Cashmere Holding, Erdos Group, Hengyuanxiang, Kingdeer, Snow Lotus, and Zhenbei Cashmere.
