The North America Cashmere Clothing Market would witness market growth of 5.6% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 1,929.6 thousand units, showcasing a growth of 17.9% (2020-2023).
Women utilize cashmere clothing across various occasions and settings, including casual outings, formal events, and professional environments. Cashmere sweaters are favored for their elegance and comfort, offering a sophisticated yet cozy option for everyday wear or special occasions. Thus, the Canada market would utilize 717.2 thousand units of cashmere clothing by 2031.
The US market dominated the North America Cashmere Clothing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $833.5 million by 2031. The Canada market is experiencing a CAGR of 8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.1% during (2024 - 2031).
Traditionally synonymous with luxury and exclusivity, cashmere remains a cornerstone of high fashion and luxury apparel. Renowned fashion houses and designers incorporate cashmere into their collections, elevating its status as a symbol of refined elegance and sophistication.
Additionally, from iconic cashmere sweaters by brands like Burberry and Ralph Lauren to luxurious cashmere coats and accessories by Chanel and Loro Piana, high-end fashion continues to showcase the timeless allure of cashmere.
The growth of the apparel industry in Canada expands the market. Consumers can access a wider range of cashmere products through domestic retailers, online platforms, and international brands entering the Canadian market. This increased availability stimulates demand for it among Canadian consumers. As per the Department of Commerce, Sri Lanka, valued at 23.85 billion Canadian dollars in 2020, the apparel industry in Canada is expected to reach 28.53 billion Canadian dollars by the end of 2024.
Free Valuable Insights: The Cashmere Clothing Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
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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