Global Cashmere Clothing Market

Global Cashmere Clothing Market Size, Share, Growth Analysis, By Product(Sweaters, Coats), By Distribution channel(Supermarkets, Hypermarkets), By Category(Men, women) - Industry Forecast 2023-2030


Report ID: SQSG25K2019 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 95 | Figures: 76

Global Cashmere Clothing Market Insights

Cashmere Clothing Market size was valued at USD 3.07 billion in 2021 and is poised to grow from USD 3.2 billion in 2022 to USD 4.44 billion by 2030, growing at a CAGR of 4.2% in the forecast period (2023-2030).

The market for cashmere clothing is predicted to increase due to the rising popularity of goods like quality and perfect woollen apparel, which is boosting demand and fostering market expansion. Cashmere yarn is used to create clothes made of the material. Compared to other varieties of wool, this kind is stronger, softer, lighter, and finer. Because of its high moisture content and ease of temperature adjustment, it also contributes to the improvement of visual appeal.

Therefore, it is anticipated that all of these factors would increase product demand during the projection period. 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.

Consumers today are more aware of their spending patterns and choose to either avoid buying expensive, non-essential items like cashmere or make the most of what they already have. One of the main causes of a decline in product demand has been this aspect. According to entrepreneur.com, the U.K. garment industry is anticipated to suffer due to a projected more than 41% reduction in consumer expenditure after the COVID-19 epidemic.

The need for high-end apparel and the rising popularity of the products due to rising disposable income levels are also anticipated to contribute to the market's expansion. On the other side, a pricey manufacturing procedure along with a finite quantity of raw resources may limit market expansion. The three main categories of cashmere clothes are sweaters and coats, slacks and trousers, and t-shirts and polo shirts. These items are regarded as luxury clothing since they are relatively expensive. Due to the rising sales of these items, North America is anticipated to have the quickest regional market growth over the projection period.

US Cashmere Clothing Market  is poised to grow at a sustainable CAGR for the next forecast year.

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Global Cashmere Clothing Market Segmental Analysis

Global cashmere clothing market is segmented on the basis of product, distribution channel, category, and region. By product, the Cashmere Clothing Market is segmented into sweaters and coats, trousers, shirts and t-shirts, others. By distribution channel, global cashmere clothing market is classified into supermarkets and hypermarkets, specialty stores, online retail, others. On the basis of category, the Cashmere Clothing Market is segmented into men, women, and unisex. In terms of region, global cashmere clothing market is classified into North America, Europe, Asia Pacific, and Rest of the world

Cashmere Clothing Market Analysis by Product

The coats segment is predicted to represent a sizeable percentage of the global cashmere clothing market for stylish luxury cashmere clothing during the forecasting period. The coat segment generated around USD 94.5 billion in retail sales in 2021. High demand from both men and women in various geographic areas is one of the key factors to drive demand for coats. The trousers segment will experience significant growth in the coming years because of the significant demand from all age groups.

The sweaters segmented is expected to hold the largest share during the forecasted period, owing to increasing demand for different types of premium sweaters. The sweater segment is estimated to generate USD 104.8 billion in retail sales. The tees & polo segment is estimated to show continuous significant growth as they are a lot cheaper than premium coats, jackets, and sweaters which people buy on regular basis.

Cashmere Clothing Market Analysis by Distribution Channel

Specialty stores focuses on single class of products, buying advices along with facilities for inspection where people prefer to buy products offline which positively influence the growth of the market. As the online retail segment is also dominating the market owing to ongoing digitalization in major countries and the consequent internet penetration that made social media websites an ideal channel for increasing awareness about cashmere clothing in several regions where the market was not sufficiently large. Supermarkets and hypermarkets has most of the demanding section of clothing while buying daily products.

Cashmere Clothing Market Analysis by Category

The women segment is expected to hold the largest share of this market. Owing to high demand for cashmere shawls and scarfs over the globe. Various designers are introducing many designs and patterns on cashmere products, which is likely to boost the growth of global cashmere clothing market. Manufacturers have started producing unique accessories that are being made from this fabric. The men's end-user segment is expected to witness the fastest CAGR of 4.51% over the forecast period attributed to the improving standards of living and increasing demand for cashmere clothing, such as coats and trousers, as fashion apparel.

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Global Cashmere Clothing Market Regional Insights

Europe held the largest share of the global cashmere clothing market owing to the increasing demand for different types of cashmere products in countries like Germany, Italy, and the UK. Furthermore, Europe is considered as the world’s fashion hub because of the presence of several luxury brands in this region, which is also propelling growth of the market.

North America is estimated to show lucrative growth over the forecast period, due to increased sales of these products and increasing disposable income in emerging economies in the region. The U.S. is the major market in this region due to high demand for luxury clothing. China is the largest cashmere supplier in Asia Pacific, accounting for nearly 70% of market demand. Although China has numerous manufacturing units for leading brands, consumption is extremely low.

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Global Cashmere Clothing Market Dynamics

Cashmere Clothing Market Driver

  • As popularity and demand for cashmere apparel products have risen, many industrialized countries import these products, which are considered premium. Globally, factors such as rising demand for high-quality clothes and the adoption of fashionable and luxury garments are expected to fuel market expansion.
  • The demand and rapid surge of cashmere clothing has attributed to rising disposable income among the working population and a trending predisposition of millennia’s to spend on luxury and premium products.

Cashmere Clothing Market Restraint

  • High cost further hinder customer affordability, which restrains the expansion of the global cashmere clothing market as there are several methods implemented for procedure to rear wool of Tibetan wild goats for yarn.
  • As there is ban on techniques where goats are allegedly caught, mistreated while being grown, and then slaughtered. This is expected to pose a challenge to the global cashmere clothing market growth rate. This is the major factor have led to the prohibition of cashmere yarn products in some countries, including the United States.

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Global Cashmere Clothing Market Competitive Landscape

Global cashmere clothing market is disintegrating and is highly competitive owing to the presence of major players and regional players. Collaboration, mergers, acquisitions and new product launches have adopted these strategies by companies to enhance the growth of the business. All the dominant players are performing better than one another in specific parameters and in this way, the competition in the global cashmere clothing market is intensifying.

Top Players in the Global Cashmere Clothing Market

  • Loro Piana
  • Brunello Cucinelli
  • The Elder Statesman
  • The Cashmere Shop
  • N.Peal
  • White + Warren
  • Pure Collection
  • TSE
  • Goat Fashion
  • Autumn Cashmere
  • Alanui
  • Sofia Cashmere
  • Eric Bompard
  • Malo
  • Barrie
  • Chinti and Parker
  • Christopher Fischer
  • Johnstons of Elgin
  • Begg & Co
  • Madeleine Thompson

Cashmere Clothing Market Recent Developments

  • In October 2021, Loro Piana, a clothing company and Italian textile commonly known for its classical and sumptuous garments, teams up with a Japanese visual artist and streetwear designer Hiroshi Fujiware for their first-ever creative collaboration.
  • In April 2022, H& M collaborated with Pringle of Scotland, which is known for its luxurious knitwear. There is a strong athleisure throughout the brand’s historic links to the world.

Global Cashmere Clothing Key Market Trends

The ERDOS Group has opened ERDOS Cashmere Care Centers in Beijing and other major cities to provide cleaning, maintenance, and repair services to their member customers. Centralised and specialized care services can help to reduce environmental impact by reducing water and detergent consumption. Many cashmere garments that had been worn for more than 20 or even 30 years were sent for care. Customers can place an order online or in-store to have an adult cashmere item transformed into a children's cashmere item by professional crafters. It is intended for customers who want to turn their cashmere sweater into a new one for their children. This innovative alteration service not only allows for the reuse of old cashmere clothing, but also gives it a strong sense of heritage, demonstrating the emotional connection between generations.

Global Cashmere Clothing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global cashmere clothing market analysis, popularity and demand for cashmere clothing has skyrocketed. Many industrialized countries import these goods. Globally, factors such as rising demand for high-quality clothing and the acceptance of fashionable and luxury garments are expected to drive market growth. With the continued digitalization of major countries and the resulting internet penetration, social media websites have become an ideal outlet for raising awareness about cashmere garments in some areas where the market was insufficient.

Report Metric Details
Market size value in 2021 USD 3.07 billion
Market size value in 2030 USD 4.44 billion
Growth Rate 4.2%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Sweaters, Coats, Trousers, Shirts, T-Shirts, Others
  • Distribution channel
    • Supermarkets, Hypermarkets, Specialty Stores, Online Retail, Others
  • Category
    • Men, women, unisex
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Loro Piana
  • Brunello Cucinelli
  • The Elder Statesman
  • The Cashmere Shop
  • N.Peal
  • White + Warren
  • Pure Collection
  • TSE
  • Goat Fashion
  • Autumn Cashmere
  • Alanui
  • Sofia Cashmere
  • Eric Bompard
  • Malo
  • Barrie
  • Chinti and Parker
  • Christopher Fischer
  • Johnstons of Elgin
  • Begg & Co
  • Madeleine Thompson
Customization scope

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  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Cashmere Clothing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Cashmere Clothing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Cashmere Clothing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cashmere Clothing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cashmere Clothing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Cashmere Clothing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

The cashmere clothing market on the basis of distribution Channel is segmented into Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others.

The cashmere clothing market showed growth of CAGR 3.93% during 2022-2028.

Cashmere Clothing Market size was valued at USD 3.07 billion in 2021 and is poised to grow from USD 3.2 billion in 2022 to USD 4.44 billion by 2030, growing at a CAGR of 4.2% in the forecast period (2023-2030).

Global cashmere clothing market is disintegrating and is highly competitive owing to the presence of major players and regional players. Collaboration, mergers, acquisitions and new product launches have adopted these strategies by companies to enhance the growth of the business. All the dominant players are performing better than one another in specific parameters and in this way, the competition in the global cashmere clothing market is intensifying. 'Loro Piana', 'Brunello Cucinelli', 'The Elder Statesman', 'The Cashmere Shop', 'N.Peal', 'White + Warren', 'Pure Collection', 'TSE', 'Goat Fashion', 'Autumn Cashmere', 'Alanui', 'Sofia Cashmere', 'Eric Bompard', 'Malo', 'Barrie', 'Chinti and Parker', 'Christopher Fischer', 'Johnstons of Elgin', 'Begg & Co', 'Madeleine Thompson'

As popularity and demand for cashmere apparel products have risen, many industrialized countries import these products, which are considered premium. Globally, factors such as rising demand for high-quality clothes and the adoption of fashionable and luxury garments are expected to fuel market expansion.

Europe held the largest share of the global cashmere clothing market owing to the increasing demand for different types of cashmere products in countries like Germany, Italy, and the UK. Furthermore, Europe is considered as the world’s fashion hub because of the presence of several luxury brands in this region, which is also propelling growth of the market.

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Global Cashmere Clothing Market

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