The Latin America, Middle East and Africa Cashmere Clothing Market would witness market growth of 8.4% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 1,132.9 thousand units, showcasing a growth of 8.3% (2024-2031).
Cashmere pants and trousers are prized for their softness, lightweight feel, and exceptional warmth, making them ideal for both casual and formal occasions. One of the key advantages of cashmere pants is their versatility. Thus, the Brazil market would utilize 117.2 thousand units of Cashmere pants and trousers by 2031.
The Brazil market dominated the LAMEA Cashmere Clothing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $81.4 million by 2031. The Argentina market is showcasing a CAGR of 9.7% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 9.2% during (2024 - 2031).
Despite its lightweight and airy texture, cashmere possesses excellent insulating properties, making it an ideal choice for all seasons. The unique structure of cashmere fibers traps air pockets, creating a thermal barrier that retains body heat in cooler temperatures.
Moreover, cashmere's breathability allows excess heat and moisture to escape, preventing overheating in warmer climates. This natural temperature regulation ensures that cashmere garments remain comfortable and adaptable to changing weather conditions year-round.
As disposable income rises, consumers tend to have more purchasing power. This may lead to an increased demand for luxury items like cashmere clothing. Nigerians with higher disposable incomes may seek to differentiate themselves through luxury purchases, driving demand for premium clothing materials like cashmere. According to the National Bureau of Statistics, the growth of national disposable income in Nigeria became positive since Q4 of 2021, showing a better performance in Q3 & Q4 of 2022 relative to Q3 and Q4 of 2021.
Free Valuable Insights: The Worldwide Cashmere Clothing Market is Projected to reach USD 4.2 Billion by 2031, at a CAGR of 6 %
Based on End User, the market is segmented into Women and Men. Based on Product, the market is segmented into Sweaters & Coats, Pants & Trousers, Tees & Polo and Others. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Chile, South Africa, Morocco, and Rest of LAMEA.
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 Country (Volume, Thousand Units, USD Billion, 2020-2031)
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