The global women wear market size is expected to reach USD 1,913.88 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 4.2% during the forecast period. Rising fashion consciousness, constantly changing trends coupled with strong inclination towards following these trends are the key factors driving the market. Furthermore, increase in the number working women leading to increased spending on apparels is anticipated to drive the growth.
Asia Pacific is expected to register the fastest CAGR of 5.5% from 2019 to 2025. This region is expected to witness significant demand in the forthcoming years due to increasing awareness among women to keep up with the latest fashion trends, rise in disposable income, and increasing investments by foreign brands in the form of new outlets. Availability of women wear by local manufacturers and designers at a cheaper rate is expected to remain a prominent factor in benefiting the growth. The market is mainly driven by the presence of strongly developing economies such as China and India, where the spending power of the population is also witnessed rising rise.
Europe is anticipated to hold the highest share of the women wear market, accounting for 37.94% in 2018. U.K., Germany, Italy, and France are the prominent markets in this region. The growing fashion trends usually originate from Europe along with the use of designer apparels makes it the largest market for women apparels. The presence of premium companies such as Armani, Gucci, and Zara SA makes this region even more significant due to high demand for these brands.
North America is anticipated to be the second largest regional segment in terms of revenue with market share of exceeding 26% at the end of the forecast period. This growth is attributed by the high spending capacity of the population in developed economies such as U.S. The strong foothold and goodwill of branded companies such as Nike, Tommy Hilfiger, and Levis Strauss & Co. has made North America account for a considerable market share.
Top wear accounted for 33.51% of the overall market share owing to high demand witnessed due to constantly new trends emerging as compared to bottom wear. The footwear segment is anticipated to witness slight decline owing to high penetration of many industry players. The active participation of women in sports is a key factor driving the sports apparels and footwear demand across the globe. Especially in developing and under-developed countries the governments are encouraging more participation of women in sports and other fitness related activities, which in turn is projected to bode well for the market growth.
In terms of distribution channel, the offline segment accounted for the highest market share as majority of consumers want to personally scan the product first by trying it on, material used, and color preferences. Also, the high demand for designer apparels and footwear is one of the key reason fueling the growth of this segment. The emergence of online portals such as Myntra, Amazon, Flipkart, and others along with increasing preference of consumers for online purchase due to many value added services such as Cash on Delivery, free trials and returns, and doorstep delivery.
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Women Wear Market Report Highlights
• The market for top wear is projected to exceed a revenue of USD 657.22 billion by 2025
• Footwear segment is anticipated to generated a revenue of USD 124.98 billion in 2018
• Europe is expected to account for 37.77% of global revenue share by 2025
• Some of the key players operating in the global women wear market include Giorgio Armani S.p.A., MANOLO BAHNIK, DIOR, LOUIS VUITTON, Burberry, DOLCE & GABBANA S.R.L, PRADA, Guccio Gucci S.p.A., Chanel, Gianni Versace S.r.l.to name a few.
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Women Wear Market Segmentation
Grand View Research has segmented the global women wear market on the basis of type, distribution channel, application, and region:
Women Wear Type Outlook (Revenue, USD Billion, 2015 - 2025)
• Top Wear
• Bottom Wear
• Sports and Active Wear
• Intimates & Sleepwear
• Footwear
• Accessories
• Others
Women Wear Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
• Offline
• Online
Women Wear Region Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• U.S.
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa
• South Africa
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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