The global cashmere clothing market size is expected to register a revenue of USD 3.50 Billion by the end of 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 3.96% from 2019 to 2025. This growth can be attributed to availability of finest quality cashmere yarn which is lighter, stronger and softer than the other types of wool.
This type of clothing has good moisture content and thereby can be easily adjustable at all temperatures and climatic conditions. Moreover, they enhance the aesthetic and appearance of users thereby driving the market growth. Moreover, rising disposable income among the working population has paved the way for the demand for premium products like cashmere clothing across the globe.
The sweaters & coats products segment held the highest share of 52% across the global cashmere clothing market. On the other hand, the tees and polo segment are anticipated to witness the highest growth rate with a CAGR of 5.67%from 2019 to 2025 due to improving living standard among the millennials across the globe.
The men end user segment is anticipated to register highest growth with a CAGR of 4.51% from 2019 to 2025 due to rising demand for such clothing like trousers, fashion apparels and coats among men. The women's end-user segment held the largest share in the global market in 2018 owing to rising demand for scarves and shawls among women.
Key players in the market of cashmere clothing are Brunello Cucinelli S.p.A., Loro Piana S.P.A., Sofia Cashmere, Autumn Cashmere, Malo, and Alyki - Felice De Palma & Co. These players have started investing in R&Ds to launch variety of products to cater to rising demand among the consumers. Moreover, large number of local players have started penetrating in the local markets thereby driving the regional market growth.
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Further key findings from the report suggest:
• In 2018, the sweaters & coats product segment held the highest share of 52% across the global market.
• The end-user segment of women held the largest share across the global market in 2018.
• Asia Pacific is anticipated to be second largest growing region across the global cashmere clothing market.
• Key players such as Loro Piana S.P.A., SofiaCashmere, Autumn Cashmere, TSE Cashmere, Malo, and Corso Italia S.p.A. are focusing on strategic initiatives such as new product lauches.
Million Insights has segmented the global cashmere clothing market on the basis of product, end user, and region:
Cashmere Clothing Product Outlook (Revenue, USD Billion, 2015 - 2025)
• Sweaters & Coats
• Pants & Trousers
• Tees & Polo
Cashmere Clothing Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Cashmere Clothing Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa