The obvious function of clothing has changed from protecting the wearer from heat and cold and the pollutants to the expression of one’s distinct personality and is a style statement. The same holds true for the women’s wear market. Due to the increasing exposure to various forms of mass media such as the internet, television and the smart phone, women are becoming more aware of the latest fashion trends in the market and are increasingly changing their wardrobe as per the latest trends. This is being aided by the proliferation in the numbers of the working women and besides, the fact that disposable incomes are rising in the world, and this is especially true for the countries of the Asia-Pacific excluding Japan (APEJ) region. This, coupled with increasing materialistic desires and rapid urbanization and industrialization, is fuelling the global women’s wear market. The global women’s wear market is also gaining traction due to the fact that more and more working women are independent and have started to assert their personality, which results in the manifestation of ever changing fashion trends that women are readily accepting and following.
The global women’s wear market is slated to touch a value of US$ 829,628 Mn in the year 2022 and grow at a moderate CAGR during the assessment period.
4 Forecast Highlights on Global Women’s Wear Market
- As per the forecast of Fact.MR, the innerwear segment is slated to touch a value of US$ 10,256.2 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The innerwear segment is estimated to account for more than one-tenth of the revenue share of the category type segment by the year 2017 end and is expected to gain in market share by the year 2022 end.
- As per the forecast of Fact.MR, the 26-35 years demographic segment will reach a value of US$ 19,140 Mn in the year 2017. This represents a steady CAGR growth during the forecast period. The 26-35 years demographic segment is estimated to account for more than one-fourth of the revenue share of the demographics segment in the year 2017 end and is expected to gain market share by the end of the year 2022.
- As per the forecast of Fact.MR, the economy segment is slated to reach a value of US$ 35,754.8 Mn in 2022. The economy segment is expected to lose some market value by the end of the year 2022. The largest share is contributed by the APEJ region in the economy segment.
- Fact.MR forecasts that the modern trade segment will exhibit a CAGR of 4.9% from 2017 to 2022. Modern trade segment is estimated to account for more than one-third of the revenue share of the sales channel segment by 2017 end and is expected to gain some market share by the end of the year 2022.
The report has also profiled leading players in the global market for women’s wear, which will remain active through 2022. These include companies such as BENETTON GROUP, Eroglu Holding, The TJX Companies, Inc., Esprit Holdings Limited, Arcadia Group, Gap Inc., Hanes Australasia Limited, H & M Hennes & Mauritz AB, Etam Developpement and Marks and Spencer Group plc.
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