“Global Cashmere Clothing Market to reach a market value of USD 4.2 Billion by 2031 growing at a CAGR of 6%”
The Global Cashmere Clothing Market size is expected to reach $4.2 billion by 2031, rising at a market growth of 6 % CAGR during the forecast period. In the year 2023, the market attained a volume of 11,850.9thousand units, experiencing a growth of 18.2% (2020-2023).
Tees and polos made from cashmere offer year-round versatility, unlike sweaters and coats that are typically seasonal. Thus, the Tees and polos segment acquired 17.8% revenue share in the market 2023. In terms of volume the Tees and polos segment would attain a volume of 5,741.6 thousand units by 2031. Lightweight cashmere tees and polos can be worn in various climates, making them suitable for different times of the year. This versatility appeals to consumers looking for high-quality, comfortable clothing that they can wear in multiple settings.
Cashmere clothing, known for its luxurious feel, warmth, and softness, embodies timeless elegance that transcends fleeting fashion fads. As fashion trends evolve, consumers seek versatile wardrobe staples seamlessly transitioning between seasons and occasions.
Additionally, cashmere clothing, known for its softness, warmth, and durability, appeals to affluent consumers seeking luxury and exclusivity in their wardrobe choices. Hence, increasing disposable income worldwide is driving the growth of the market.
However, Cashmere production involves labor-intensive processes such as combing, sorting, and de-heiring the fine undercoat of cashmere goats. Skilled labor is required to perform these tasks, adding to the production costs associated with cashmere garments. Thus, the high production cost is hampering the market's growth.
On the basis of end-user, the market is segmented into men and women. The women segment recorded 55.9% revenue share in the market in 2023. In the terms of volume, the women segment would attain a volume of 10,416.9 thousand units by 2031. The women's fashion industry tends to be more diverse and innovative than men's.
Based on product, the market is divided into sweaters & coats, pants & trousers, tees & polo, and others. In 2023, the pants & trousers segment attained 23.6% revenue share in the market. In terms of volume, the pants & trousers segment would attain a volume of 4,712.9 thousand units by 2030. Consumers are increasingly seeking comfort without sacrificing style, especially in their everyday attire.
Based on distribution channel, the market is categorized into online and offline. In 2023, the offline segment registered 58% revenue share in the market. In terms of volume the offline segment would attain a volume of 9,467.5 by 2030. Cashmere is known for its luxurious feel and softness, qualities best appreciated through physical touch. Many consumers prefer to experience the texture and quality of cashmere garments in person before purchasing.
Free Valuable Insights: Global Cashmere Clothing Market size to reach USD 4.2 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated 26.7% revenue share in the market in 2023. In terms of volume North America region would attain a volume of 4,983.9 thousand units by 2031.North America, particularly the United States and Canada, has a high average disposable income. Consumers in this region have significant purchasing power, allowing them to afford luxury goods such as cashmere clothing.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.7 Billion |
| Market size forecast in 2031 | USD 4.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.0% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 281 |
| Number of Tables | 670 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Distribution Channel, End-user, Region |
| Country scope |
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| Companies Included | Loro Piana S.P.A. (LVMH), That's Alyki, Pringle of Scotland Limited, Kinross Cashmere (Dawson Forté Cashmere), Repeat Cashmere (The Repeat Group), Autumn Cashmere, Inc., White + Warren, 360Cashmere, TSE Cashmere (Cashmere House Inc.) and Brunello Cucinelli S.p.A. |
By End-user (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
This Market size is expected to reach $4.2 billion by 2031.
Rapidly changing fashion trends are driving the Market in coming years, however, High cost of production restraints the growth of the Market.
Loro Piana S.P.A. (LVMH), That's Alyki, Pringle of Scotland Limited, Kinross Cashmere (Dawson Forté Cashmere), Repeat Cashmere (The Repeat Group), Autumn Cashmere, Inc., White + Warren, 360Cashmere, TSE Cashmere (Cashmere House Inc.) and Brunello Cucinelli S.p.A.
The expected CAGR of this Market is 6 % from 2023 to 2031.
The Sweaters & Coats segment is leading the Market by Product in 2023; thereby, achieving a market value of $1.9 billion by 2031.
The Europe region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.4 billion by 2031.
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