Wilmington, Delaware, United States, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global winter wear market was worth US$ 199.6 Bn in 2021. Market forecast estimates growth at a CAGR of 5.5% during the forecast period, from 2022 to 2031 and touch value of US$ 340.5 Bn by 2031. Rise in winter sports activities and tournaments across the globe is anticipated to drive growth of the global winter wear market during the forecast period. Increase in consumer demand for winter clothing made from eco-friendly materials such as fleece and wool are likely to open up attractive growth prospects for market players. Firms are stepping up their R&D efforts to develop novel products that can satisfy customers' growing demand.
Manufacturers of winter wear products, including thermal clothing, hoodies, sweaters, blazers, jackets, and cardigans, are projected to use innovative materials and technologies. Manufacturers are likely to take advantage of incremental opportunities to gain competitive advantage in the global winter wear market.
Procurement of materials, innovation, and fabric selection in winter dress ensembles are the primary areas of focus for winter clothing makers and suppliers. The surge in demand for winter apparel is compelling companies to leverage innovations in fabric and insulation technologies to enhance their product quality. Rise in usage of next-generation fabric with improved heat retention and insulation properties is anticipated to fuel the global winter wear market during the forecast period.
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Key Findings of Market Report
- In terms of product category, the scarves, shawls, wraps, stoles, and mufflers segment is anticipated to lead the global market during the forecast period. Growth of this segment is attributed to the fact that these products are available in various styles and designs. Products for winter apparel come in a variety of fabrics, including polyester, cotton, wool, and acrylic.
- Based on fabric type, the natural segment is anticipated to hold significant share in the global winter wear market. Even during the cold winter months, the body stays comfortable and warm by wearing natural fabrics. Moisture-resistant materials include cotton and wool.
Global Winter Wear Market: Growth Opportunities
- Market participants are focusing on making products that are soft, lightweight, as well as appealing by leveraging innovations in fabric technology. Global winter wear companies are making use of direct-to-consumer (DTC) marketing to attract customers.
- Usage of winter wear made using natural materials, including fur, down, merino wool, and fleece, is expected to rise in the near future, propelling market growth. Retailers usually offer steep discounts in the winter to attract new customers, which is anticipated to drive market demand in the next few years.
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Global Winter Wear Market: Regional Landscape
- Asia Pacific accounted for a sizable market share of the global winter wear industry in 2021. The region is expected to retain its dominant share during the forecast period, based on this winter wear market research study. Growth in cotton agriculture and an expanding customer base for winter clothing products are projected to drive industry growth in Asia Pacific. Furthermore, population expansion and a rise in consumer disposable income are anticipated to drive demand for winter wear. This factor is anticipated to accelerate market development in the near future.
Global Winter Wear Market: Key Players
- Fenix Outdoor International AG
- Wintergreen Northern Wear
- Amer Sports Corporation
- Eddie Bauer LLC.
- Canada Goose, Inc.
- VF Corporation.
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Global Winter Wear Market: Segmentation
Product
- Sweaters and Cardigans
- Jackets, Coats, and Blazers
- Scarves, Shawls, Wraps, Stoles, and Mufflers
- Sweatshirts, Hoodies, and Pullovers
- Thermals
- Gloves
- Accessories
Consumer Group
- Men
- Women
- Kids
Fabric
- Natural
- Man-made
Distribution Channel
- Online
- Offline
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