USD 48.5 billion
Report ID: SQMIG25K2059 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 61 | Figures: 75
Global Men’s Coats and Jackets Market size was valued at USD 48.5 billion in 2021 and is poised to grow from USD 50.97 billion in 2022 to USD 75.89 billion by 2030, growing at a CAGR of 5.1% in the forecast period (2023-2030).
The market is driven by a number of factors, including changing fashion trends, seasonal weather patterns, and consumer preferences for particular styles and brands. There has been a growing trend toward sustainability and ethical fashion in the men's coats and jackets market in recent years. Many consumers seek out products made from eco-friendly materials or produced using fair labor practices. This has led to the emergence of a number of new brands and companies that specialize in sustainable and ethical men's outerwear. The market is expanding due to rising per capita income and purchasing power. Also, manufacturers are using more automatic equipment, which boosts coat and jacket output while lowering costs. The companies' emphasis on growing their clientele through discount programs and other contact methods, such as e-commerce platforms, is anticipated to hasten the market's expansion.
US Men’s Coats and Jackets Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 48.5 billion
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Global Men’s Coats and Jackets Market is segmented on the basis of Fiber Outlook, Distribution Channels, and region. By Fiber Outlook, the Men’s Coats and Jackets Market is segmented into, Polyester, Cotton, Cellulosic and others. By Distribution Channels, Men’s Coats and Jackets Market is segmented into Offline and Online. By region, the Men’s Coats and Jackets Market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Men’s Coats and Jackets Market Analysis by Fiber Outlook
The Polyester segment dominated the Global Men’s Coats and Jackets Market. Compounds with the ester functional group are present in polyester, a form of synthetic fiber. One of the most widely used fibers in the textile industry in the world, this fiber is made from petroleum. For the production of garments, this fiber provides a reliable and economically advantageous material. Since polyester fiber is resistant to a variety of external factors, consumers choose clothing produced from it.
The Cotton segment is expected to grow at the fastest CAGR. Because it is permeable and absorbent, cotton is primarily used in the textile industry to keep people comfortable in cool weather and absorb sweat. As cotton has no negative effects on the skin and is comfortable, it is one of the top favorites in the business compared to other synthetic and natural fibers. The market revenue has grown at a high rate as a result of this.
Men’s Coats and Jackets Market Analysis by Distribution Channel
The Offline segment dominated the Global Men’s Coats and Jackets Market. Almost 80% of the market in 2021 was distributed through offline distribution channels. Sports shops, wholesalers, and retail establishments are examples of offline channels. To physically inspect the goods they are buying, consumers prefer to purchase consumer goods, clothing, coats and jackets, and other products offline.
The Online growing segment is expected to grow at the fastest CAGR. To increase product sales, several manufacturers of these goods are selling their goods online and through e-commerce platforms. For the past few years, the percentage of people using the internet has seen a profitable increase. The e-commerce industry has grown significantly as a result, which has fuelled the expansion of this market segment
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Europe dominated the global market. The market income benefits from the economies of industrialized nations like Germany, the U.K., and France. Significant variables anticipated to impact the market's growth in this region include the population's financial independence, increased per capita income, and shifting fashion trends.
Asia Pacific market is expected to grow at the fastest CAGR. The regional market is expanding thanks in part to China and India. The region is seeing significant demand for clothing due to the expanding population, rising numbers of working women, and shifting fashion trends. Due to the affordable labor prices and easy access to raw materials, which leads to low production costs, many international corporations are developing in this region.
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Men’s Coats and Jackets Market Drivers
Growing e-commerce industry
Men’s Coats and Jackets Market Restraints
Rising production costs
Difficulty in sourcing materials
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The Global Men’s Coats and Jackets Market is distinguished by the existence of numerous well-established players as well as numerous small and medium-sized players. Companies are putting a lot of effort into new product introductions to keep up with consumer expectations as fashion consciousness changes. These programmes should increase the pace at which consumers accept the products. The suppliers are aggressively using organic and inorganic methods to spread their footprints worldwide.
Men’s Coats and Jackets Market Top Player’s Company Profiles
Men’s Coats and Jackets Market Recent Developments
Men’s Coats and Jackets Market Sustainability
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 by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Men’s Coats and Jackets Market analysis, the market is influenced by various factors, including fashion trends, technological innovations, and consumer preferences. The market is competitive, with many top players operating globally. One significant trend in the market is the growing focus on sustainability. Consumers are increasingly interested in environmentally friendly products, and many brands are responding by using sustainable materials, adopting sustainable practices, seeking certification, and implementing circular economy initiatives. Another trend is the rise of e-commerce, which has significantly impacted the market. The global men's coats and jackets market is expected to grow in the coming years, driven by fashion trends, technological innovations, and consumer preferences. Brands that can differentiate themselves by offering high-quality, sustainable products and effective online sales strategies are likely to succeed in this competitive market.
|Market size value in 2021||USD 48.5 billion|
|Market size value in 2030||USD 50.97 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
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For the Global Men’s Coats and Jackets 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 Men’s Coats and Jackets 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.
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