Research Support Specialist, USA
The global men’s coats and jackets market size is expected to reach USD 68.60 billion by 2028, according to a new report by Million Insights. It is expected to expand at a 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 is 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. Manufacturers are focusing on expanding their customer base by offering discounts and reaching them via different ways, such as e-commerce platforms.
The cellulosic fiber segment is estimated to register the highest CAGR of 7.1% from 2021 to 2028. Cellulosic fiber is obtained after the chemical processing of cotton linters and wood pulp. The segment is used to create a variety of fabrics, such as denim, corduroy, muslin, linen, and organza. With the increasing popularity of these fabrics among consumers, it is expected that the segment will witness momentous growth over the forecast period.
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.
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 report “Men’s Coats And Jackets Market Size, Share & Trends Analysis Report By Fiber (Polyester, Cellulosic, Cotton), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global men’s coats and jackets market on the basis of fiber, distribution channel, and region: