Research Support Specialist, USA
The global men’s blazers market size is estimated to reach USD 31.4 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of 4.3% from 2021 to 2028. Rising acceptance of corporate culture, protection of the body from coldness, and increasing fashion consciousness among the citizens are attributing to the growth of this market. Moreover, manufacturers adopting automatic machines to increase production and at the same time reducing the cost associated. Manufacturers are focusing on increasing their customer base by reaching them in different ways such as e-commerce platforms and offering discount schemes.
The cellulosic segment is likely to forecast the highest CAGR of 5.8% from 2021 to 2028. Cellulosic fiber is obtained from the chemical processing of cotton, inters, and wood pulp. The segment is used to create a variety of fabrics such as denim, corduroy, muslin, linen, and organza. With an increasing popularity of these fabrics among the consumers, it is expected that the segment will witness momentous growth over the forecast period.
The online distribution channel is expected to register a CAGR of 5.7% from 2021 to 2028. Citizens started using online shopping portals and mobile apps for shopping and are getting popular due to their simplicity and convenience. Products are available at economic rates via online channels as compared to offline. Moreover, end-users choose most believed shopping portals or mobile apps to purchase clothes, thus driving the segment.
In Asia Pacific, the market is expected to witness the highest CAGR of 5.4% from 2021 to 2028. China and India are positively contributing to the growth of the market. With the largest growing population and increasing disposable income, the region is witnessing huge demand for apparels. Many multinational companies are expanding in this region due to low labor cost and easy availability of raw material, results in low manufacturing costs. Rising information technology is also contributing to the growth of the market. Thus, the region is expected to forecast the highest CAGR during the forecast period.
The report “Men’s Blazers Market Size, Share & Trends Analysis Report By Fiber (Cotton, Polyester, Cellulosic), By Distribution Channel (Offline, Online), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global men’s blazers market on the basis of fiber, distribution channel, and region: