The global neckwear market size was valued at USD 3.96 billion in 2023 and is expected to grow at a CAGR of 4.4% during the forecast period. The rising trend of pairing neckwear with casual dressing is projected to boost the demand. The product gives a professional, poised, and elegant appearance. Increasing demand from the key consumers such as bankers, media professionals, and students is anticipated to further drive the growth of the market. Additionally, various business schools and universities have included neckties as part of their dress codes, further expanding the customer base of the product.
Organizations such as military regiments, clubs, and professional associations, among others use specific colored and patterned neckties as a sign of membership. This factor is anticipated to further fuel the product demand.
Many neckwear manufacturers focus on product innovation in terms of colors, patterns, materials, and designs to attract newer consumers. The rising trend of pairing ties with casual wear is anticipated to positively influence market growth. Manufacturers have introduced neckwear with floral and deco design, soft-touch fabric such as brushed flannel, heathered yarns, Donegal wools, knits, and chambray ties for different occasions.
Self-tied neckwear dominated the market by capturing 72.1% share in 2023. As these products are versatile and easy to use, consumers prefer self-tied neckwear products extensively. Also, as these can be tied with several knot methods, offer different looks. These utility features are favoring the segment growth positively.
The pre-tied neckwear segment, on the other hand, is estimated to register the fastest CAGR of 5.0% over the forecast period. Consumers prefer pre-tied neckwear to save time. Children, students, and beginners are some of the major consumers of the pre-tied or clip-on neckwear.
Neckties segment held the largest revenue share of 81.1% globally in 2023. The increasing usage of neckwear as part of formal dress code in corporate offices, colleges, hotels are shaping the neckties market. Also, as these products are available in several sizes, widths and patterns matching the latest trends in the clothing, the demand is anticipated to be high over the forecast period. ‘
The bow tie segment is estimated to witness the fastest CAGR during the forecast period. The growth is attributed to the rising adoption of bow ties as casual wear accessories, especially among millennials. Bow ties are preferred for ball events owing to their elegant appearance and attractive color and shape. Consumers prefer cotton bow ties for an informal look and dark silk variants for a formal look.
Bow ties are preferred for ball events owing to their elegant appearance and attractive color and shape. Consumers prefer cotton bow ties for an informal look and dark silk variants for a formal look. Bow ties are also used in weddings as formal dress codes are followed in such functions. These factors are expected to boost the segmental growth.
The offline distribution of neckwear products dominated the market by capturing 78.5% share in 2023. As customers can physically check and feel the product experience, the offline stores are still the most preferred choice. Also, customers tend to buy accessories with the main attire from the store, so that the entire look in be tried.
Online distribution channel emerged as the fastest growing segment with a CAGR of 5.7% during 2024 to 2030. The presence of various popular brands on e-commerce sites, availability of wide range of products and convenient shopping experience in terms of delivery, payments and returns are the drivers expanding segment growth in coming years.
North America held a market share of 24.9% in 2023. Appearance of celebrities wearing the neckwear products in public events has boosted the trend in the region. Additionally, deploying the dress code policy in banks, corporate offices and formal occasions has raised the demand of neckwear products. The increasing number of employees is augmenting the regional market as well. In U.S. the neckties have been part of dress code in formal occasions and wedding functions traditionally.
APAC dominated the global market by capturing 42.3% of revenue in 2023 and is expected to grow at the fastest CAGR of 4.9% over the forecast period. The presence of high working populations in countries such as China and India are contributing significantly to the market growth. The growing corporate sector, awareness about dress traits and influence of western lifestyle are expected to further drive the regional market. Also, the high number of colleges and universities propel the textile market including neckwear products market in the Asia pacific region.
Prominent companies in the neckwear market include Brooks Brothers Group, Giorgio Armani, Ralph Lauren Corporation, PVH Corp, LVMH and others. Manufacturers aim to offer customized service through products suitable for different occasions, fabric, type, size and colors as well. Introducing innovative fashion trends to attract young and working population is the prime focus by key fashion companies.
Ralph Lauren Corporation is a global design, marketing and distribution company of luxury lifestyle products in clothing and accessories. Company offers a wide range of products with innovative designs and lifestyle trends.
Brooks Brothers Group is a luxury clothing brand and the product array includes neckties, original button-down collar, accessories and the non-iron shirt. The brand caters clothing solutions for both men and women and has over 500 stores worldwide.
The following are the leading companies in the neckwear market. These companies collectively hold the largest market share and dictate industry trends.
Report Attribute |
Details |
Market size value in 2024 |
USD 4.06 billion |
Revenue forecast in 2030 |
USD 5.27 billion |
Growth Rate |
CAGR of 4.4% from 2024 to 2030 |
Base year for estimation |
2023 |
Historical data |
2020 - 2023 |
Forecast period |
2024 - 2030 |
Quantitative units |
Revenue in USD Million and CAGR from 2024 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Wearing type, product, distribution channel and region |
Regional scope |
North America, Europe, Asia Pacific, Latin America, MEA |
Country scope |
U.S., Germany, UK, India, China , Brazil, Nigeria |
Key companies profiled |
Brooks Brothers Group, Giorgio Armani, Ralph Lauren Corporation, PVH Corp, LVMH, Brackish Brand, Vineyard Vines, The Tie Bar, Turnbull & Asser, Battistoni |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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 2020 to 2030. For this study, Grand View Research has segmented the global neckwear market report based on product, distribution channel, and region.
Wearing Type Outlook (Revenue, USD Million, 2020 - 2030)
Neckties
Bow Ties
Others
Product Outlook (Revenue, USD Million, 2020 - 2030)
Self-Tied
Pre Tied
Distribution Channel (Revenue, USD Million, 2020 - 2030)
Online
Offline
Regional Outlook (Revenue, USD Million, 2020 - 2030)
North America
U.S.
Europe
Germany
UK
Asia Pacific
India
China
Latin America
Brazil
Middle East and Africa (MEA)
Nigeria
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