Winter Wear Market Analysis By Product, By End Use, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global winter wear market size was accounted for USD 268.3 billion, in 2018. It is projected to ascend with a CAGR of 4.3% from 2019 to 2025. Factors such as extreme low cold temperatures, increasing demand for lightweight winter wear apparel providing more warmth to the body, and protection against frostbite are fueling the market growth. Moreover, changing fashion and customers’ preferences to travel to snowy destinations for vacations and the growth of snowboarding and other related sports are further projected to augment the demand for winter wear over the estimated period.

Increasing global warming and greenhouse gases have led to a drop in temperature in various regions, thereby, supporting the demand for winter wear apparel. Other factors such as demand for branded and high-end winter apparel, increasing per capita income, and expansion of distribution networks are further driving the demand for the product.

Further, changing weather conditions, due to environmental degradation, has supplemented the sales of winter wear apparel across different segments. Moreover, consumer inclination towards newly arrived fashionable clothing over conventional ones coupled with the tendency for lightweight winter wear is projected to boost the growth of the product over the estimated duration.

The rise in the frequency of buying winter clothing along with increasing spending on these products by the consumers particularly in emerging nations such as Brazil, India, and China has augmented the sales of winter wear. Furthermore, the launch of smart technology equipped winter wear and product innovation have provided growth avenues for the manufacturers. For example, a leading player in Boston named Ministry of Supply, in 2018, introduced a winter wear jacket having an automatic temperature control mechanism along with Alexa control features through the app.

Winter wear sales are largely affected by dropping temperatures due to global warming. However, the winter season is quite shorter resulting in consumer preference for a lighter version and cost-effective winter wear apparel. Unorganized retail significantly enjoying a dominant position in various countries. On the other hand, luxury products are also preferred by various users, resulting in the growing penetration of organized retail in the market.

Product Insights

Coats and Jackets segment led the winter wear market with a 52.5% of market share in 2018. Growing preference for jackets for various purposes such as travel, bike riding, armors, and trekking, resulting in the rise in demand for the product. Further, jackets are lightweight, comfortable, durable, and fashionable. This product is also popular in the premium category owing to its tear-resistant and tough look, making it more acceptable among customers. Coats are used for corporate purposes resulting in growing demand among working professionals. Further, they are also widely used with casual attire to give an aesthetic look, therefore, proliferating the sales of the product.

The sweaters and cardigans segment is expected to grow at a CAGR of 5.6% over the forecast period. Sweaters are cost-effective and are widely used during low temperatures by customers. Woolen materials are stretchable and easily fit any body shape, making them more convenient for users. Cardigan is witnessing increased adoption among women, which, in turn, bodes well for the market growth.

End-User Insights

The men segment dominated the market which accounted for 45.0% of the share in 2018. Factors such as the availability of fashionable clothing options and trendy lifestyles are driving the market growth. Men’s segment extensively prefers hoodies, round neck cardigans, and V necks. Also, coats and jackets are widely used for business and casual wear, resulting in high demand for winter wear products over the forecast years.

The women division is projected to ascend with a CAGR of 4.8% from 2019 to 2025. Wide acceptance of products such as scarfs, sweaters, and shawls is proliferating segment growth. Also, these products are used as casual wear in various celebrations and festive occasions, thereby, creating a further growth opportunity for winter wear products in the coming years.

Manufacturers are focusing on the introduction of the new product due to the growing trend of fashionable products in the women's wear segment. For example, in the jacket division, sleeveless products are highly demanded in the form of both casual and formal attire.

Regional Insights

In 2018, Asia Pacific led the winter wear market with a 35.2% share. Factors such as the growing preference for innovative winter wear apparel and increasing population in nations such as India and China are driving the growth of the regional market. Also, changing weather pattern in Southeast Asian countries leads to the growing demand for this apparel.

The Middle East & Africa is projected to expand with a CAGR of 7.6% in the forecast duration. Nations such as UAE, South Africa, and Saudi Arabia are the leading consumers of fashionable winter wear apparel. South Africa accounted for per person revenue of approx. USD 5.0 from winter wear in 2018. Further, a drastic fall in temperature in the African nations is projected to contribute positively to the growth of the regional market in the upcoming years.

Winter Wear Market Share Insights

There is continuous product development & innovation in the market due to growing demand from developing nations such as India and China. Manufacturers are using various strategic initiatives such as capacity expansions, M&A, and product innovation in order to strengthen their dominance in the market.

Leading players in this industry include Zara SA; Recreational Equipment, Inc.; Columbia Sportswear Company; Gap Inc.; Crew Group, Inc.; VF Corporation; Patagonia, Inc.; Arc'teryx Equipment, Inc.; American Multinational Corporation Gap Inc.; and The North Face, Inc. These players are emphasizing on expanding their geographical presence to garner a large consumer base. For example, a company named Eddie Bauer, in 2018, LLC established a new production plant in Austria for winter wears.  

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global winter wear market report on the basis of product, end-user, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Coats & Jackets
    • Sweaters & Cardigans
    • Shawls & Scarves
    • Others

• End User Outlook (Revenue, USD Billion, 2015 - 2025)
    • Men
    • Women
    • Children

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa