Global Cashmere Clothing Market, By Product (Sweaters and Coats, Pants and Trousers, Tees and Polo, Others), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others), End- User (Men, Women, Children) – Industry Trends and Forecast to 2029
Market Analysis and Size
Nowadays, there has been immense growth in the adoption of fashionable clothing as well as luxury apparel. Additionally, rising per-capita income among consumers in developing economies is estimated to contribute significantly to revenue growth. These determinants further create rapid demand for the market over forecasted period.
Global Cashmere Clothing Market was valued at USD 3015.98 million in 2021 and is expected to reach USD 4105.41 million by 2029, registering a CAGR of 3.93% in 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Sweaters and Coats, Pants and Trousers, Tees and Polo, Others), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others), End- User (Men, Women, Children)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Loro Piana S.p.a (Italy), Brunello Cucinelli SpA (Italy), Ermenegildo Zegna Group (Italy), Malo (Italy), Pringle of Scotland (U.K.), SOFIACASHMERE (U.S.), Autumn Cashmere (U.S.), BALLANTYNE (U.S.), Birdie Cashmere (U.K.), Maiyet (U.S.), Gobi (China), Cashmere Holdings Company (China), Erdos Group (China), Hengyuanxiang(China), Kingdeer (China), Huzhou Zhenbei Cashmere Products Co., Ltd.(China), NatureKnit (Nepal) and Invisible World (U.S.)
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Market Opportunities
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Market Definition
Cashmere apparel is made from Cashmere yarn, which is a higher-quality and longer-lasting form of wool than ordinary wool. These are finer, softer, and lighter than other wool types while also being stronger and more durable. Furthermore, these garments have a higher moisture content, making them suitable for a wide range of climates. Cashmere clothing, such as sweaters and jackets, slacks and trousers, and tees, is often more expensive than regularly available woolen clothing, hence regarded premium luxury fashion.
Cashmere clothing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Surging demand for Cashmere Clothing
The popularity and demand for cashmere apparel products have risen dramatically. Many industrialized countries import these products, which are considered premium. Globally, factors such as rising demand for high-quality clothes and the adoption of fashionable and luxury garments are expected to fuel market expansion.
Furthermore, the rapid surge in demand for cashmere clothing products has been attributed to rising disposable income among the working population and a trending predisposition of millennials to spend on luxury and premium products. Furthermore, with the continuous digitalization of major countries and the resulting internet penetration, social media websites have become a perfect outlet for raising awareness about cashmere garments in some locations where the market was not large enough.
Opportunities
- Innovations and Awareness
Furthermore, the market players are further investing in innovations in the design and comfort of fashion products, which further extend profitable opportunities over the forecast period of 2022 to 2029. Additionally, the increasing awareness about cashmere clothing in several regions where the market was not sufficiently large will further expand the future growth of the cashmere clothing market.
Restraints/Challenges
- High Costs
However, the cashmere clothing are usually very costly owing to their heavy production cost, which further increases the overall demand for the clothing. The high costs further create affordability issues amongst the consumers, which hampers the growth of the cashmere clothing market. Moreover, the unavailability of raw materials is also projected to negatively impact market growth.
- Ban on Techniques
Certain techniques thought to be practiced in farming Tibetan wild goats for yarn have resulted in cashmere yarn items being prohibited in nations such as the United States. It's thought that the goats are captured, raised, and mistreated for their exquisite wool. This factor is anticipated to challenge the cashmere clothing market growth rate.
This cashmere clothing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cashmere clothing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cashmere Clothing Market
The recent outbreak of coronavirus had a huge impact on the cashmere clothing market. The negative impact can be attributed to the lockdown and social distancing norms, major corporations have halted operations in several areas.
However, on the other side, the market is estimated to recover post-pandemic due to increased urbanization and the growing need for efficient use of available space. The growth in disposable income -pandemic further anticipates many requirements and demand following the pandemic.
Global Cashmere Clothing Market Scope
The cashmere clothing market is segmented on the basis of product, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Sweaters and Coats
- Pants and Trousers
- Tees and Polo
- Others
Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
End- User
- Men
- Women
- Children
Cashmere Clothing Market Regional Analysis/Insights
The cashmere clothing market is analyzed and market size insights and trends are provided by country, product, distribution channel and end-user as referenced above.
The countries covered in the cashmere clothing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the presence of several prominent global luxury brands within the region.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increased sales of these products and increasing disposable income in the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cashmere Clothing Market Share Analysis
The cashmere clothing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cashmere clothing market.
Some of the major players operating in the cashmere clothing market are
- Loro Piana S.p.a (Italy)
- Brunello Cucinelli SpA (Italy)
- Ermenegildo Zegna Group (Italy)
- Malo (Italy)
- Pringle of Scotland (U.K.)
- SOFIACASHMERE (U.S.)
- Autumn Cashmere (U.S.)
- BALLANTYNE (U.S.)
- Birdie Cashmere (U.K.)
- Maiyet (U.S.)
- Gobi (China)
- Cashmere Holdings Company (China)
- Erdos Group (China)
- Hengyuanxiang(China)
- Kingdeer (China)
- Huzhou Zhenbei Cashmere Products Co., Ltd. (China)
- NatureKnit (Nepal)
- Invisible World (U.S.)
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