Cashmere Clothing Market Size, Share, Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Cashmere Clothing Market


The global Cashmere clothing market size was valued at USD 2.66 billion in the year 2018. The market is estimated to expand at a CAGR of 3.96% during the forecast period of 2019 to 2025. Rising popularity of these products as fine and ideal woolen clothing is driving their demand, thereby supporting market growth.
Cashmere clothing products are made using Cashmere yarn. This type of wool is finer, softer, lighter, as well as stronger than other wool types. It also has a high moisture content and hence it is easily adjustable to different temperatures. Moreover, it helps enhance the aesthetic appeal. These factors are expected to augment the product demand.
 

Rising product popularity and demand for premium quality clothing across the globe due to increased disposable income levels are also estimated to spur the market growth. On the other hand, costly production process coupled with limited supply of raw materials may have a negative impact on the market growth. Sweaters & coats, pants & trousers, and tees & polo are the major types of Cashmere clothing.
These products are comparatively costly and thus are considered as luxury clothing apparels. North America is expected to be the fastest-growing regional market from 2019 to 2025 due to increased sales of these products. Europe being the fashion hub of the world is estimated to account for the largest market share by 2025. Moreover, presence of several prominent global luxury brands in Europe will drive the regional market.
                                                                
Product Insights of Cashmere Clothing Market

On the basis of product, the market has been divided into Sweaters & coats, pants & trousers, tees & polo, and others. The sweaters and coats product segment accounted for the largest share of the global market of more than 52% in the year 2018. The segment is anticipated to expand further at a steady CAGR over the forecast period.
This growth can be attributed to the rising demand for different types of premium sweaters and coats, such as casual and formal wear. The tees and polos product type segment is projected to register the fastest growth rate of 5.67% from the year 2019 to 2025. The segment foresees a growth due to high demand for tees and polos as they are cheaper as compared to the premium coats, jackets, and sweaters.

End User Insights

On the basis of end user, the market is bifurcated into men and women segments. The men end-user segment is expected to witness the fastest CAGR of 4.51% over the forecast period of 2019 to 2025. The growth is attributed to the improving standards of living and increasing demand for Cashmere clothing, such as coats and trousers, as fashion apparels.
 

The women end-user segment, on the other hand, is estimated to account for the largest share of the global industry. This is mainly due to high demand for Cashmere shawls and scarves across the globe. Various manufacturers are introducing innovative designs and patterns, which will boost the growth further. In addition, companies are also introducing unique accessories made from this fabric.

Regional Insights of Cashmere Clothing Market

Europe was the largest regional market in 2018 and accounted for more than 38% of the global share. The market is driven by rising demand for different types of Cashmere clothing in countries, such as Germany, Italy, and U.K. Moreover, Europe is considered as the world’s fashion hub due to strong presence of a number of luxury brands in the region, which also drives the market growth. However, North America is expected to be the fastest-growing regional market at a CAGR of 5.06% over the forecast period. U.S. is the major market in this region due to high demand for luxury clothing.

Market Share Insights of Cashmere Clothing Market

Some of the key companies in the global market are Loro Piana S.p.A, Ermenegildo Zegna Holditalia S.p.A., Brunello Cucinelli S.p.A., SofiaCashmere, Autumn Cashmere, Alyki - Felice De Palma & Co., and Pringle of Scotland Ltd. Many luxury brands are also entering the market owing to increasing product demand and high growth potential.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Cashmere Clothing Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global Cashmere clothing market report on the basis of product, end user, and region:


Product Outlook (Revenue, USD Billion, 2019 - 2030)


Sweaters & Coats


Pants & Trousers


Tees & Polo


Others


End User Outlook (Revenue, USD Billion, 2019 - 2030)


Men


Women