Womenswear Market - By Type, By Distribution Channel & Global Region - Market Size, Trends, Share & Forecast 2022-2032
Womenswear Market Highlights
Womenswear Market size was valued at $1597.1 billion in 2021, and is projected to reach $2591.8 billion by 2032, growing at a CAGR of 4.50% from 2022 to 2032.
Womenswear Market Definition and Overview
Women's wear refers to clothing specifically designed for women and is a subcategory of the broader fashion and clothing industry. It encompasses a wide range of styles, designs, materials, and sizes, and can be classified into several categories such as casual wear, formal wear, athletic wear, and lingerie, among others. The global women's wear market is characterized by the increasing demand for stylish and comfortable clothing, the growing popularity of online retail, and the rise of fast fashion.
Factors such as increasing consumer spending on fashion, changing lifestyles, and the influence of pop culture and social media have also had a significant impact on the growth of the women's wear market. In addition, the increasing number of working women and the rise of women's empowerment have led to an increase in the demand for work-wear and professional attire.
Report Scope : Womenswear Market
Base Year Valuation
Forecast Year Valuation
Womenswear Market Drivers
The women's wear market is driven by several factors, including:
- Rising consumer spending: Women are increasingly spending more on fashion, driven by their desire for stylish and comfortable clothing and the influence of popular culture and social media.
- Changing lifestyles: The rise of women's empowerment and the increasing number of women entering the workforce have led to a growing demand for work-wear and professional attire.
- Online retail: The growing popularity of online retail has made it easier for consumers to purchase women's wear, as they can browse and shop for clothing from the comfort of their homes.
- Fast fashion: The rise of fast fashion has led to an increase in the availability of affordable and trendy women's wear, appealing to cost-conscious consumers.
- Pop culture and social media: Pop culture and social media have had a significant impact on the women's wear market, as celebrities and influencers set fashion trends and promote new styles.
- Sustainable and eco-friendly fashion: Consumers are becoming more environmentally conscious and are demanding more sustainable and eco-friendly fashion options.
- Technological advancements: Technological advancements in materials and production processes have led to the development of new and innovative clothing materials and designs, which are becoming increasingly popular among consumers.
- Demographic trends: An aging population and a growing middle class are also driving demand for women's wear, as older women become more fashion-conscious and middle-class consumers have more disposable income to spend on clothing.
Womenswear Market Challenges
The women's wear market faces several challenges, including:
- Competition: The women's wear market is highly competitive, with both established brands and new entrants vying for market share.
- Saturation: In some regions, the women's wear market is becoming saturated, with limited opportunities for growth.
- Changing consumer preferences: Consumer preferences and trends change rapidly, making it difficult for companies to keep up and remain relevant.
- Supply chain disruptions: Supply chain disruptions, such as raw material shortages or transportation disruptions, can lead to delays in production and delivery, affecting the availability of women's wear.
- Quality concerns: Consumers are becoming increasingly concerned about the quality of clothing and are demanding more durable and long-lasting products.
- Intellectual property issues: Intellectual property issues, such as counterfeiting and plagiarism, can be a major challenge for companies operating in the women's wear market.
- Sustainability and ethics: Companies are facing increasing pressure to adopt more sustainable and ethical production practices, which can be costly and difficult to implement.
- Pricing pressure: Companies operating in the women's wear market face pressure to offer affordable prices, while also maintaining profitability. This can be a challenge, particularly in an environment of rising costs for raw materials and labor.
Womenswear Market Segmentation :
- Top Wear
- Bottom Wear
- Sports & Active Wear
- Intimates & Sleepwear
By Distribution Channel:
- Modern Trade
Womenswear Market Regional Outlook :
Europe is currently the dominator in the womenswear market. This can be attributed to the growing economic independence of the female population and augmented fashion consciousness prevalent among its crowd. Furthermore, the purchasing power in the region is comparatively higher than most others. Europe is home to the largest global brands such as Chanel, Dior, Lacroix, Gucci, Prada, Versace, and others. Thus, the region contributes majorly on the global sales of the womenswear products.
The Asia Pacific region is expected to witness the fastest growth in the near future as a result of the growing establishment of offline and online players in the market and also the increasing ability to pay for its requirements by the people.
Womenswear Market Key Players :
- ATT Clothing
- Good Clothing Company
- Giorgio Armani
- MANOLO BAHNIK
- DOLCE & GABBANA
- Guccio Gucci
- Gianni Versace
- LOUIS VUITTON
- Indie Source
- Other Players
Womenswear Market Recent Developments :
- In October 2020, ASOS launched a new-to-market womenswear label ‘As You’ with prices starting from just £8 and over 100 pieces to choose from and as a stand-alone brand.
- In November 2020, J.Jill Inc. , the struggling womenswear chain announced its reverse stock move where its board of directors approved a measure in which its shareholders were to receive one new share of its common stock for every five shares that they held prior to a date that was set.
- In November 2020, Cape Town-based international retail giant The Foschini Group (TFG) reportedly closed 148 outlets within TFG London, its European business which has been hardest hit in the wake of the global Covid-19 pandemic and related lockdowns.
Timeline Considered for Analysis:
- 2021: Base Year
- 2032: Estimated Year
- 2022 to 203: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global womenswear market by the following segments:
- Distribution Channel
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Womenswear Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?