The global Winter Wear Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global winter wear market size was accounted for USD 268.3 billion, in 2018. It is projected to ascend with a CAGR of 4.3% from 2019 to 2025. Factors such as extreme low cold temperatures, increasing demand for lightweight winter wear apparels providing more warmth to the body and protection against frostbite are fueling the market growth. Moreover, changing fashion and customers’ preferences to travel to snowy destinations for vacations and the growth of snowboarding and other related sports are further projected to augment the demand for winter wear over the estimated period.
Key Players:
- Gap Inc.
- VF Corporation
- Columbia Sportswear Company
- The North Face, Inc.
- Patagonia
- Zara SA
- Arc’teryx Equipment, Inc.
- Recreational Equipment, Inc.
- American multinational corporation
- Crew Group, Inc.
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Growth Drivers:
Increasing global warming and greenhouse gases have led to a drop in temperature in various regions, thereby, supporting the demand for winter wear apparels. Other factors such as demand for branded and high-end winter apparel, increasing per capita income and expansion of distribution networks are further driving the demand for the product.
Further, changing weather conditions, due to environmental degradation, has supplemented the sales of winter wear apparels across different segments. Moreover, consumer inclination towards newly arrived fashionable clothing over conventional ones coupled with the tendency for lightweight winter wear is projected to boost the growth of the product over the estimated duration.
The rise in the frequency of buying winter clothing along with increasing spending on these products by the consumers particularly in emerging nations such as Brazil, India and China has augmented the sales of winter wear. Furthermore, the launch of smart technology equipped winter wear and product innovation have provided growth avenues for the manufacturers.
The winter wear sales are largely affected by dropping temperatures due to global warming. However, the winter season is quite shorter resulting in consumer preference for a lighter version and cost-effective winter wear apparel. The unorganized retails significantly enjoying a dominant position in various countries.
Product Outlook:
- Coats & Jackets
- Sweaters & Cardigans
- Shawls & Scarves
- Others
End User Outlook:
- Men
- Women
- Children
Regional Outlook:
In 2018, Asia Pacific led the winter wear market with a 35.2% share. Factors such as the growing preference for innovative winter wear apparels and increasing population in nations such as India and China are driving the growth of the regional market. Also, changing weather pattern in Southeast Asian countries leads to the growing demand for this apparel.
Middle East & Africa is projected to expand with a CAGR of 7.6% in the forecast duration. Nations such as UAE, South Africa and Saudi Arabia are the leading consumers of fashionable winter wear apparel. South Africa accounted for per person revenue of approx. USD 5.0 from winter wear in 2018. Further, drastic fall in temperature in the African nations is projected to contribute positively to the growth of the regional market in the upcoming years.
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