The global men’s coats and jackets market size was valued at USD 47.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. Rising acceptance of the corporate culture and the need for the protection of the body from the changing atmosphere are contributing to the growth of this market. Additionally, rising per capita income and increasing purchasing power are the key factors fueling the growth of this market. Moreover, manufacturers are adopting automatic machines to increase production and at the same time reducing the cost associated. They are focusing on expanding their customer base by offering discounts and reaching them via different ways, such as e-commerce platforms.
The coats and jackets for men are outer garments used for warmth or fashion. Coats and jackets are typically manufactured with long sleeves. Both coats and jackets have collars, lapels, and pockets. The fabrics used for coats and jackets are velvet, jacquard, wool, fur, and leather. These products are available in different styles, colors, and designs for multiple usages, which include casual, formal, and cocktail parties. Both coats and jackets are available in long and short lengths, which, in turn, will drive the industry demand.
During the COVID-19 pandemic and lockdown situation, the governments of various countries restricted the physical movement and citizens preferred to stay at home as a precautionary measure. Various sports events, exhibitions, and other public events were canceled across the world. Moreover, corporate offices are opened with a less number of employees while most of the employees are working from home. Due to the restricted production, disturbed supply chains, and reduced demand, the market experienced a shortfall in the sales of apparel. However, it is expected that the market will soon witness healthy growth in the upcoming years after COVID restrictions are eased.
Offline distribution channel held the largest share of more than 80.0% in 2020. The offline channel includes sports stores, distributors, and retail stores. Manufacturers and marketers use the traditional retail channel for more sales. The segment includes organized retail channels that are more customer-oriented and provide better services by selling a variety of apparel directly to the end users. Additionally, these stores provide a choice of physical verification and trial facility of the products to the end users. Thus, the offline segment contributes more to the market revenue.
The online distribution channel is estimated to register the highest CAGR of 6.5% from 2021 to 2028. The use of online shopping portals and mobile apps is getting popular among consumers for shopping due to the simplicity and convenience associated. Products are available at economic rates via online channels compared to offline channels. Moreover, end users choose the most believed shopping portals or mobile apps to purchase. Thus, the growth of this segment is observed to be more.
The polyester segment dominated the market and held a revenue share of more than 40.0% in 2020. Polyester is a synthetic type of fiber that contains compounds of the ester functional group. This fiber is obtained from petroleum and is one of the most popular fibers in the textile industry across the globe. This fiber is durable and a relatively more economic material used for manufacturing apparel products. Consumers prefer apparel made from polyester fiber as it is resistant to all types of environmental conditions. With all these benefits, polyester is consumed the most for making apparel in the textile industry.
The cotton segment is expected to register the second-highest CAGR from 2021 to 2028. Cotton is breathable and absorbent and is mostly used in the textile industry to keep the human body warm during cool weather and absorb sweat. Cotton is increasingly preferred in the textile industry over other synthetic and natural fibers as it does not have cause skin allergies and offers comfort.
The European region held the largest share of more than 30.0% in 2020. Well-developed economic countries such as Germany, the U.K., and France are positively contributing to the market revenue. Financially independent population, higher per-capita income, and changing fashion trends are major factors expected to impact the growth of the market in this region.
Asia Pacific is expected to expand at the highest CAGR of 6.5% from 2021 to 2028. China and India are positively contributing to the growth of the regional market. With a growing population, an increasing number of working women, and changing fashion trends, the region is witnessing high demand for apparel. Many multinational companies are expanding in this region due to the low labor cost and the easy availability of raw materials, resulting in low manufacturing costs.
The market for men’s coats and jackets is characterized by the presence of various well-established players and several small and medium players. Vendors are focusing on product launches to meet consumers’ expectations with the changing fashion consciousness. Such initiatives are expected to boost the adoption rate of the products among consumers. The vendors are aggressively following organic as well as inorganic strategies to expand their footprints across the globe. Some prominent players in the global men’s coats and jackets market include:
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 48.50 billion |
|
Revenue forecast in 2028 |
USD 68.60 billion |
|
Growth Rate |
CAGR of 5.1% from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2017 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Fiber, distribution channel, region |
|
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
|
Country scope |
U.S.; Germany; France, U.K.; China; India; Brazil; South Africa |
|
Key companies profiled |
Dior; H&M Hennes & Mauritz AB; CHANEL; Guccio Gucci S.p.A.; PRADA; Burberry Group Plc; Giorgio Armani S.p.A.; Dolce & Gabbana S.r.l.; Gianni Versace S.r.l.; Louis Vuitton, Inc. |
|
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global men’s coats and jackets market report on the basis of fiber, distribution channel, and region:
Sign up today.
Call us at +1-408-610-2300 to speak with a
representative.
All Reports
