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Women Wear Market Share & Growth 2025 | Industry Trends Report

Women Wear Market Analysis Report By Type, By Distribution Channel And Segment Forecasts From 2019 To 2025

Report ID: MN17620072  |  Published: September 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global women wear market size was USD 1,386.1 billion in 2018. It is estimated to grow at 4.7% CAGR over the forecast period, 2019 to 2025. Increasing demand is driven by factors such as the rise in the number of female population, high spending on clothing products and changing fashion trend. Owing to the growing social media influence and celebrity promotion, manufacturers are introducing innovative design. In addition, the rise in online sales has supplemented the product demand.

Over the past few years, there has been significant growth in the number of working female population. As reported by the World Bank, women share in the overall workforce is around 39%. Further, this number is anticipated to increase in the coming years. With the rise in working women population, their spending on women wear has also increased considerably, which in turn, has bolstered the market growth.

U.S. women wear market

Continuous innovation, celebrity endorsement, dedicated article, magazine, and changing trend of fashion are bolstering the growth of the market. In addition, manufacturers are focusing on introducing various apparel, accessories and footwear that are worn on a special occasion. Moreover, the trend at different places such as workout look, airport look and are gaining traction, especially because of celebrity endorsement.

The rapidly growing e-commerce sector has worked as a catalyst in the development of women wear market. The top-notched brands, which were limited once to the upper class of the society, are now available to all classes following the rise in e-commerce. In addition, benefits such as easy return, availability of different brands and cashback & discounts are further supplementing the e-commerce growth. Women from all communities of the society are adopting fashion.

Type Insights

Based on type, in 2018, the top wear segment accounted for the largest share in the market of nearly 35%. Availability of a variety of products in the segment is driving the segment growth. Both retailers and e-commerce website offer a huge variety of products in this segment. These varieties are polo, wraps, asymmetric, crops, tanks and ruffle & frills. Moreover, these products are available in different fabrics such as denim, chiffon, rayon, faux, shear and cotton among others.

Clothing products are available in the form of floral, checks, stripes, solids and prints among others. Further, the trend of mix and match with these varieties is supplementing the market growth. In addition, millennials are increasingly trying new variants, which in turn, offers a huge opportunity for the market players.

Distribution channel Insights

Among distribution channels, the offline category accounted for over 56% share in the market in 2018. Presence of a large number of market players is driving the growth of this segment. Online clothing is not so popular among Generation X and they tend to prefer buying from retail stores. Further, a large number of women, especially in rural areas, are not aware of the benefits of e-commerce buying, therefore, leading to the growth of the offline distribution channel. In addition, offline stores provide the trial option and instant availability of apparel.

Global women wear market

On the other hand, the online segment is projected to witness the highest growth rate of 5.0% over the forecast duration. Factors such as availability of rarest brands, affordable prices and newest arrival are attributing to the growth of the online segment. In addition, online shopping is convenience and it provides a variety of options for product selection. Thus, owing to these above-mentioned benefits, the online segment is projected to witness the significant traction in the next few years.

Regional Insights

In 2018, Europe held the highest share in the women’s wear market owing to the rise in the number of independence women and increasing awareness about changing fashion trends. In addition, the region has witnessed significant growth in purchasing power. Further, the presence of several leading brands such as Parda, Dior, Gucci and Versace in the region is driving the growth.

On the other hand, APAC is estimated to grow with 5.5% CAGR over the next six years. The increasing number of retail stores and a rapidly growing e-commerce sector in the region is attributing to its growth. Moreover, countries such as India, Japan and China have witnessed significant growth in the number of working women population.

Impact of COVID-19

The outbreak of COVID-19 has negatively affected the growth of the market. The retail apparel stores were forced to shut down in the first and second quarter of 2020, which saw a steep decline in the sales of the women wear. However, the e-commerce segment witnessed significant growth during this period.

On the other hand, in the third quarter of 2020, the governments across the globe are reopening the economy gradually. Offline women wear shops opened in the different parts of the world, however, they witnessed low turnout. With the decreasing number of COVID-19 cases in some parts of the world, it is estimated that the industry would recover sooner than later.

Women Wear Market Share Insights

Key players in the market include Burberry¸ MANOLO BAHNIK, LOUIS VUITTON, DIOR and Chanel. These players are emphasizing on the development of new products and expanding their geographical presence across the globe. Further, they are focusing on the integration of their retail stores with online stores to strengthen their sales. Some of the leading e-retailers are Shein, Ajio, Shein, Asos and FabAlley.

Report Scope

Report Attribute

Details

Market size value in 2020

USD 1,516.2 million

Revenue forecast in 2025

USD 1,913.9 million

Growth Rate

CAGR of 4.7% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million/billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; China; India; Brazil; South Africa

Key companies profiled

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.

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global women wear market report on the basis of type, distribution channel and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Top Wear
    • Bottom Wear
    • Sports & Active Wear
    • Intimates & Sleepwear
    • Footwear
    • Accessories
    • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • The U.S.
    • Europe
        • Germany
        • The U.K.
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • South Africa

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