Women Wear Market Analysis Report By Type, By Distribution Channel And Segment Forecasts From 2019 To 2025

Industry Insights

The global women's wear market size was USD 1,386.1 billion in 2018. It is estimated to grow at 4.7% CAGR over the forecast period, 2019 to 2025. Increasing demand is driven by factors such as the rise in the female population, high spending on clothing products, and changing fashion trends. Owing to the growing social media influence and celebrity promotion, manufacturers are introducing innovative designs. In addition, the rise in online sales has supplemented the product demand.

Over the past few years, there has been significant growth in the working female population. As reported by the World Bank, women's share in the overall workforce is around 39%. Further, this number is anticipated to increase in the coming years. With the rise in the working women population, their spending on women wear has also increased considerably, which in turn, has bolstered the market growth.

Continuous innovation, celebrity endorsement, dedicated articles, magazines, and changing trends of fashion are bolstering the growth of the market. In addition, manufacturers are focusing on introducing various apparel, accessories, and footwear that are worn on special occasions. Moreover, the trend at different places such as workout look, airport look and are gaining traction, especially because of celebrity endorsement.

The rapidly growing e-commerce sector has worked as a catalyst in the development of the women's wear market. The top-notched brands, which were limited once to the upper class of the society, are now available to all classes following the rise in e-commerce. In addition, benefits such as easy return, availability of different brands, and cashback & discounts are further supplementing the e-commerce growth. Women from all communities of society are adopting fashion.

Type Insights

Based on type, in 2018, the top wear segment accounted for the largest share in the market of nearly 35%. The availability of a variety of products in the segment is driving the segment growth. Both retailers and e-commerce websites offer a huge variety of products in this segment. These varieties are polo, wraps, asymmetric, crops, tanks, and ruffle & frills. Moreover, these products are available in different fabrics such as denim, chiffon, rayon, faux, shear, and cotton among others.

Clothing products are available in the form of floral, checks, stripes, solids, and prints among others. Further, the trend of mix and match with these varieties is supplementing the market growth. In addition, millennials are increasingly trying new variants, which in turn, offers a huge opportunity for the market players.

Distribution channel Insights

Among distribution channels, the offline category accounted for over 56% share in the market in 2018. The presence of a large number of market players is driving the growth of this segment. Online clothing is not so popular among Generation X and they tend to prefer buying from retail stores. Further, a large number of women, especially in rural areas, are not aware of the benefits of e-commerce buying, therefore, leading to the growth of the offline distribution channel. In addition, offline stores provide the trial option and instant availability of apparel.

On the other hand, the online segment is projected to witness the highest growth rate of 5.0% over the forecast duration. Factors such as the availability of rarest brands, affordable prices, and newest arrival are attributing to the growth of the online segment. In addition, online shopping is convenient and it provides a variety of options for product selection. Thus, owing to these above-mentioned benefits, the online segment is projected to witness significant traction in the next few years.

Regional Insights

In 2018, Europe held the highest share in the women’s wear market owing to the rise in the number of independent women and increasing awareness about changing fashion trends. In addition, the region has witnessed significant growth in purchasing power. Further, the presence of several leading brands such as Parda, Dior, Gucci, and Versace in the region is driving the growth.

On the other hand, APAC is estimated to grow with a 5.5% CAGR over the next six years. The increasing number of retail stores and a rapidly growing e-commerce sector in the region is attributing to its growth. Moreover, countries such as India, Japan, and China have witnessed significant growth in the number of working women population.

Impact of COVID-19

The outbreak of COVID-19 has negatively affected the growth of the market. The retail apparel stores were forced to shut down in the first and second quarters of 2020, which saw a steep decline in the sales of women's wear. However, the e-commerce segment witnessed significant growth during this period.

On the other hand, in the third quarter of 2020, governments across the globe are reopening the economy gradually. Offline women wear shops opened in the different parts of the world, however, they witnessed low turnout. With the decreasing number of COVID-19 cases in some parts of the world, it is estimated that the industry would recover sooner than later.

Women Wear Market Share Insights

Key players in the market include Burberry¸ MANOLO BAHNIK, LOUIS VUITTON, DIOR, and Chanel. These players are emphasizing the development of new products and expanding their geographical presence across the globe. Further, they are focusing on the integration of their retail stores with online stores to strengthen their sales. Some of the leading e-retailers are Shein, Ajio, Shein, Asos, and FabAlley.

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 this study, Million Insights has segmented the global women wear market report based on type, distribution channel, and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Top Wear
    • Bottom Wear
    • Sports & Active Wear
    • Intimates & Sleepwear
    • Footwear
    • Accessories
    • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Offline
    • Online

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