The winter clothing market is expected to grow at a CAGR of 4.7 percent from 2017 to 2021, reaching USD 285 billion in 2022 and USD 295 billion by 2027. According to new research from Future Market Insights (FMI), the winter clothing market increased at a 5.0 percent compound annual growth rate (CAGR) in the projection year, reaching a market worth of US$ 280.0 billion in 2020. The winter clothing market’s share of the parent market (apparel market) is between 3% to 9%.
Winter Wear Market Key Points Covered
- Market estimations and forecasts for winter wear from 2013 to 2027
- Key market drivers and restraints
- Segment-by-segment, country-by-country, and region-by-region analysis
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- Competition Mapping and Benchmarking
- COVID-19’s Impact on the Global Winter Wear Market and How to Navigate It
- Key Winning Strategies Recommendation
2013-2021 Global Winter Wear Market Outlook Compared to 2022-2027 Forecast
Apparel is one of the oldest and most dynamic industries on the planet. Textiles and clothing are produced in the majority of countries for export. As a result, the garment and textile industries’ geographical distribution of manufacturing has moved dramatically in recent years. Furthermore, buyers are more interested than ever in high-quality winter wear as a result of rising global temperatures, and companies are responding by making high-quality winter wear to meet consumer demand.
Consumers are requesting branded winter wear products because ads, entertainment channels, and movies affect their purchasing decisions, and they believe branded products are of higher quality. These factors are expected to drive the global winter wear market forward shortly.
Growth in Developing Countries Creating Opportunities for the Winter Wear Business
Another factor boosting the growth of the winter wear industry is the increased penetration of organized retail, rising income levels, and favorable demographics in developing countries. Also driving the winter wear market is the abundant availability of raw materials such as wool, silk, cotton, and others in developing countries for the production of textile products, as well as significant government investments made under various schemes to encourage more private equity firms and train workforce in developing economies.
Restraints to Stunt Market Growth
As a result of climate change, seasons are becoming less predictable each year, making it difficult to synchronize fashion industry specialized processes to market demand. Furthermore, one of the factors that drive the market is the installation of climate control systems in practically all residential and commercial buildings, workplaces, autos, and shopping malls. As a result, possible substitute items for winter gear and changing climate circumstances are viewed as a market threat.
Winter Wear Market Competitive Landscape
Leading companies in the global winter wear market are focused on product promotions, development, and new product releases to expand their business globally.
- Omni-HeatTM Infinity, the next generation of thermal-reflective warmth, will be introduced by Columbia Sportswear Company in 2021. The inaugural season of Omni-Heat Infinity features a wide range of technical coats, winter footwear, headgear, and gloves for men and women.
- For the 2020 winter collection, Zara went all out, debuting some of today’s most-wanted designs before anybody else. The brand debuted oversized dickeys, sweater vests, leather pants, and other products.