Newark, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The brainy Insights estimates that the USD 2.4 billion in 2022 cashmere clothing market will reach USD 3.8 billion by 2030. The market for cashmere clothing is growing owing to the increasing preference for attractive luxury clothes as a symbol of status and the inclination toward flaunting style and class in society. Furthermore, the rising demand for excellent wool garments adds impetus to the market’s growth. Cashmere yarn is used to create cashmere clothing products. This product is stronger, softer, lighter, and finer than other varieties of wool. Because of its high moisture content and ease of temperature adjustment, it also improves visual appeal. Therefore, it is anticipated that all of these factors will increase product demand during the forecast period.
Download Free Sample - https://www.thebrainyinsights.com/enquiry/sample-request/13195
Key Insight of the Cashmere Clothing Market
Europe to account for the largest market size during the forecast period.
Europe is expected to have the largest cashmere clothing market share. The European market is being driven by an increase in demand for various types of cashmere clothing in nations like Germany, Italy, and the United Kingdom. Furthermore, the increasing number of prominent brands manufacturing cashmere clothing in the region also adds to the market growth.
The sweaters and coats segment is expected to augment the cashmere clothing market during the forecast period.
The sweaters and coats segment is anticipated to dominate the market over the forecast period. The demand for sweaters and coats has been increasing owing to the increasing use of premium sweaters and coats, such as casual and formal wear.
The men's segment market size is 1.0 billion in 2022
The men's segment held the largest market share in 2022 and is expected to continue during the forecast period. Demand for cashmere apparel, including jackets and pants, and rising living standards are expected to propel the segment’s growth.
Advancement in market
In October 2022, the New cashDenim series was introduced by Loro Piana S.P.A. 60 per cent denim, and 40 per cent cashmere are blended and slowly woven on traditional looms by Loro Piana S.P.A. for the CashDenim line.
In October 2022, The first collection of luxurious cashmere basics for ladies was unveiled by Autumn Cashmere. Each item, from plain cardigans to striped sweaters, struck the ideal mix between femininity and comfort.
Market Dynamics
Driver: Increasing popularity on social media
Social media websites have developed into a great platform for spreading awareness about cashmere clothing in some regions where the market was not sufficiently developed. This has developed drastically in the past few years due to the ongoing digitalization of major countries and the ensuing internet usage. Thus, the increasing advertisement of cashmere clothing on social media platforms drives the market’s growth.
Restraint: High cost
The high production and raw material cost of cashmere clothing increase the overall cost of cashmere clothes. The high cost of the product is expected to hinder the market’s growth as most people from low and middle-income families will not be able to afford these clothes.
Opportunity: Increasing awareness
There is an increasing awareness regarding cashmere clothing in several regions. Furthermore, there is an increasing awareness about the benefits of cashmere clothing, which is expected to provide growth opportunities for the market over the forecast period.
Challenge: Ban In Techniques
Some nations, notably the United States, have banned using cashmere yarn because of alleged practices employed in cultivating Tibetan wild goats for yarn. The goats are supposedly captured, maltreated as adults, and killed. This factor is expected to challenge the market growth.
Interested to Procure the Research Report? Inquire Before Buying – https://www.thebrainyinsights.com/enquiry/buying-inquiry/13195
Some of the major players operating in the cashmere clothing market are:
● Loro Piana S.P.A.
● Brunello Cucinelli S.p.A.
● Alyki - Felice De Palma & Co.
● Pringle of Scotland Limited
● Ermenegildo Zegna Holditalia S.p.A.
● SofiaCashmere
● Autumn Cashmere
● Malo
● Corso Italia S.p.A.
● TSE Cashmere
Key Segments cover in the market:
By Product:
● Pants and Trousers
● Tees and Polo
● Sweaters and Coats
● Others
By End-User:
● Women
● Men
● Children
By Region
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Procure The Research Report - https://www.thebrainyinsights.com/report/cashmere-clothing-market-13195
About the report:
The market is analyzed based on value (USD billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
