Cashmere Clothing Market Size Worth $3,545.65 Million By 2030 | CAGR: 6.2%

The global cashmere clothing market size is expected to reach USD 3,545.65 million by 2030, according to a new study by Polaris Market Research. The report “Cashmere Clothing Market Share, Size, Trends, Industry Analysis Report, By Product (Sweaters & Coats, Pants & Trousers, Tees & Polo, and Others); By End-User; By Distribution Channel; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The ongoing digitalization of major countries and the ensuing internet penetration favor product adoption. According to the International Telecommunication Union, there were 1.8 Million internet users worldwide in 2009, but that number has grown to 4.0 Million people in 2019, representing 51% of the world's population. This growth is anticipated to continue in the near future. The expansion of 4G technology into remote areas and future 5G technology potential contribute to the rising internet penetration. Internet consumers are still driven by the costs of economic data in developing nations.

Further, the major players in the market are also focusing on digitization & adopting technology to drive market growth. For instance, in June 2022, On Burberry.com, Burberry introduced a new AR feature that enables users to virtually experience the brand's iconic bag within their surroundings. Therefore, the rising internet penetration, the increasing adoption of advanced technology, and the customer's focus on online shopping are the major factors bolstering the market growth over the forecast period.

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Additionally, in June 2021, The Prada & Ermenegildo Zegna groups teamed up to purchase a controlling interest in the Filati Biagioli Modesto, which specializes in the manufacture of cashmere and other pricey yarns. This alliance represents a significant attempt to safeguard Italy's distinctive supply chain. Thus, the collaborations among the major players for the development of cashmere clothing.

The COVID-19 epidemic compelled governments all over the world to enact stringent lockdowns, which severely disrupted the cashmere garment market's supply chain. Due to issues including social exclusion and stay-at-home restrictions, the pandemic impacted both the manufacturing and sale of cashmere throughout the world through both online and offline channels. For instance, the amount of online clothes sales made by more than 3000 merchants and direct-to-consumer brands was reduced by 20% month over month at ShipBob, a tech-enabled third-party logistics service provider, from February to April 2020.

Cashmere Clothing Market Report Highlights

• Tees and Polo segment is anticipated to grow at the fastest CAGR over the forecast period due to the increasing demand for it and the fact that they are far less expensive than high-end coats, jackets, and sweaters.
• Men's segment accounted for a considerable revenue share. This expansion is likely due to men's increasing desire for clothing items including coats, trendy clothing, and pants.
• North America is expected to grow at a significant CAGR over the projected period. This is a result of the growing desire for luxurious apparel in industrialized nations like the United States and Canada.
• The global players include Autumn Cashmere, Alyki - Felice De Palma, Brunello Cucinelli, Cashmere Holdings, Erdos Group, Ermenegildo Zegna Holditalia, Herms International, Huzhou Zhenbei Cashmere Products, Malo GmbH, Pringle of Scotland Limited, Ralph Lauren Corp., and SofiaCashmere Corp

Polaris Market Research has segmented the Cashmere Clothing market report based on end-user, product, distribution channel, and region:

Cashmere Clothing, Product Outlook (Revenue - USD Million, 2018 - 2030)

• Sweaters & Coats
• Pants & Trousers
• Tees & Polo
• Others

Cashmere Clothing, End-User Outlook (Revenue - USD Million, 2018 - 2030)

• Men
• Women
• Children

Cashmere Clothing, Distribution Channel Outlook (Revenue - USD Million, 2018 - 2030)

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
• Others

Cashmere Clothing, Regional Outlook (Revenue - USD Million, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa