USD 3.9 billion
Global Neckwear Market Size, Share, Growth Analysis, By Product(Neckties, Bowties), By Wearing Type(Self-tied, Pre-tied) - Industry Forecast 2024-2031
Report ID:
SQSG30L2033 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|
Tables:
62 |
Figures:
75
Global Neckwear Market Insights
Neckwear Market size was valued at USD 3.9 billion in 2019 and is poised to grow from USD 4.13 billion in 2023 to USD 6.3 billion by 2031, growing at a CAGR of 5.87% in the forecast period (2024-2031).
Demand is expected to increase as a result of the growing fashion for wearing a neckpiece with casual attire. The item exudes a polished, poised, and sophisticated appearance. It is projected that rising demand from important consumers including bankers, media professionals, and students would further fuel market expansion. In order to draw in new customers, many producers concentrate on product innovation in terms of colours, patterns, materials, and designs. The growing practise of wearing ties with casual attire is projected to have a beneficial impact on market expansion. For various occasions, manufacturers have created it with floral and art deco patterns, soft-touch materials like brushed flannel, heathered yarns, Donegal wools, knits, and chambray ties.
US Neckwear Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Neckties
Fastest Growth
Neckties
Growth Rate
5.87% CAGR
Global Neckwear Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Neckwear Market Size by Product 2021-2028 ($ Mn)
Global Neckwear Market Size by Product 2021-2028 (%)
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Global Neckwear Market Segmental Analysis
The global Neckwear market is segmented based on Product, wearing type and Region. Based on Product Neckwear Market is segmented into neckties, bowties, other. Based on wearing type Neckwear Market is bifurcated into self-tied and pre-tied. Based on region Neckwear Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Neckwear Market Analysis by Product
The market is divided into neckties, bowties, and other segments depending on the type of product. The market's highest share was held by the necktie category in 2021, and this trend is anticipated to continue throughout the forecast period. The widespread usage of neckwear by customers in a variety of occupations, including banking, hospitality, law, psychiatry, aviation, and corporate settings, is what is fueling the expansion of this market.
The demand is expected to be fueled by neckties' ability to convey exclusivity, power, authority, and professionalism. The dress code for many elementary schools, business schools, and universities includes neckties. Specific colored and patterned neckties are used by groups including clubs, professional associations, and military units among others as a show of membership. This element is expected to increase the demand for the goods.
Over the projected period, the bow tie sector is anticipated to continue to experience the quickest CAGR. Bow ties are becoming increasingly popular as accessories for casual clothing, especially among millennials, which is why the market is expanding. Due of their exquisite appearance and appealing color and shape, bow ties are chosen for ball events. Customers favor cotton bow ties for a more casual appearance and black silk bow ties for a more formal appearance. These elements are anticipated to accelerate the segment's growth.
Neckwear Market Analysis by Wearing Type
The market is divided into self-tied and pre-tied segments based on the type of wearing. Adults want to wear various knots of varying lengths, therefore the self-tied dominates the market. In addition, self-tied neckwear is the segment with the fastest rate of growth because children, students, and beginners are among the main users of pre-tied or clip-on neckwear. These numerous pre-tied consumers are accelerating the segment's growth over the course of the projection period.
Global Neckwear Market By Product, 2021 (%), 2023 (%)
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Global Neckwear Market Regional Insights
Asia Pacific held the greatest global Neckwear market share. Due to the large increase in the working population, the regionis predicted to grow at the quickest CAGR during the forecast period. The use of bow ties in the area is being aided by the growing western cultural impact. In the upcoming years, it is anticipated that factors including increasing disposable income, fashion consciousness, and the commercial sector would propel regional growth. A growing population, a multitude of private schools and colleges, and a thriving economy are all contributing to the rise of the area in nations like China, India, Japan, and Korea.
Over the forecast period, North America is anticipated to experience significant expansion. It is believed that celebrities wearing neckwear more frequently will have a favorable impact on consumer purchasing decisions. Additionally, the existence of a dress code for professionals like bankers, lawyers, therapists, and psychiatrists is likely to increase demand for regional goods. The majority of bankers whose customary dress code includes neckwear are found in the United States alone.
Global Neckwear Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Neckwear Market Dynamics
Neckwear Market Driver
- Over time, there has been an increase in the demand for neckwear. By giving the wearer a sense of professionalism, confidence, and authority, it improves the entire appearance of a person's attire. Among the top buyers of neckwear are people in the media, the hotel industry, the court system, students, bankers, and other occupations.
- Companies that make them are concentrating on producing items with unique designs, forms, and colors as well as finer textiles. In the future, it is anticipated that the availability of innovative and more customized neckwear products would significantly fuel market expansion. Some of the unique materials being provided are chambray, knits, heathered yarns, chambray, and brushed flannel.
Neckwear Market Restraint
- Many businesses in several nations allow staff to wear casual attire without a necktie. Senior medical personnel used to frequently wear neckties, however due to cleanliness and safety concerns, this practice has been discontinued recently.
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Global Neckwear Market Competitive Landscape
The existence of several international players defines the global neckwear market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our Neckwear market reports, some of the leading quality Neckwear manufacturers are as follows: Brooks Brothers Group, Inc. (US), Giorgio Armani S.p.A. (Italy), Ralph Lauren Corporation (US), PVH Corp. (US), LVHM (France), Brackish Brand (US), Vineyard Vines (US), The Tie Bar (US), Turnbull & Asser (UK), Battistoni (US).
Neckwear Market Top Players Company Profiles
- Armani
- Burberry
- Calvin Klein
- Dior
- Gucci
- Hermes
- Hugo Boss
- Louis Vuitton
- Prada
- Ralph Lauren
- Tommy Hilfiger
- Versace
- Yves Saint Laurent
- Brooks Brothers
- J.Crew
- Kenneth Cole
- Michael Kors
- Paul Smith
- Ted Baker
- Zara
Neckwear Market Recent Developments
- In August 2022, According to a webpage from the jewellery company, Tiffany & Co. wants to join the luxury trend by releasing a collection of 250 non-fungible tokens on Friday. Buyers can exchange these tokens for a necklace called an NFTiff.
- In August 2022, the Lovisa jewellery company will soon have a store in Lehigh Valley Mall between Francesca's Collections and the PINK store on the first level of the Whitehall shopping centre will be the cost-conscious retailer. This will be Lovisa's first regional location.
Global Neckwear Key Market Trends
- Companies that make neckwear are concentrating on producing items with unique designs, forms, and colours as well as finer textiles. In the future, it is anticipated that the availability of innovative and more customised neckwear products would significantly fuel market expansion. Some of the unique materials being provided are chambray, knits, heathered yarns, chambray, and brushed flannel.
Global Neckwear 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 by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Neckwear Market analysis, over the anticipated term, it is anticipated that self-tied neckwear will continue to maintain the biggest market share. Self-tied neckwear is more popular among consumers since it is convenient and adaptable. Over the next ten years, the necktie segment is anticipated to have the biggest revenue share among the wearing type segments. Neckties are more frequently worn in corporate settings thanks to their acceptable and understated styles, and in some places, neckties are even part of the standard dress code. Over the course of the projected period, the Asia Pacific market is anticipated to keep holding a sway over the global market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.9 billion |
| Market size value in 2031 | USD 6.3 billion |
| Growth Rate | 5.87% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 | |
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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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 Neckwear 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Neckwear 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Global Neckwear 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 Neckwear 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 Neckwear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Neckwear 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.
Global Neckwear Market Report Snapshots
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