The global women’s suits and ensembles market size is estimated to reach USD 16.01 billion by 2028 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2028, according to a new report by Grand View Research, Inc. This can be attributed to the factors such as the increasing number of working women, rising per capita income, and purchasing power. Additionally, rising corporate culture across the globe is contributing to the growth of this market. Moreover, apparel manufacturers adopt automatic machines to increase production and reduce the cost associated with it.
The cotton segment contributed the second-largest revenue share to the global market of more than 30.0% in 2021 and is forecast to expand with a CAGR of 5.1% from 2022 to 2028. Cotton is breathable and absorbent and is mostly used in the textile industry to make the human body warm during cool weather and absorb sweat. Cotton is one of the important preferences of the industry compared to other synthetic and natural fibers, as it does not have side effects on the skin and offers comfort. This contributes to the market revenue.
Offline distribution channels contributed to a larger market share of more than 75% in 2021. Offline channels include exclusive stores, hypermarkets and supermarkets, and retail stores. Manufacturers and marketers use the traditional retail channel for more sales. The segment includes organized retail channels which 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 trials & facility of products to the end-users, thus contributing to the market revenue.
Asia Pacific is forecast to expand with the highest CAGR of 5.8% from 2022 to 2028. China and India are positively contributing to the growth of the market. With the largest growing population and increasing disposable income, the region is witnessing huge demand for apparel. Many multinational companies are expanding their foothold in this region due to low labor costs and easy availability of raw materials, which will lead to a more working population. Rising information technology is also positively contributing to the growth of the market. Thus, the region is forecast to grow with the highest CAGR during the forecast period.
The governments of various countries restricted movement or restricted citizens from going out due to the COVID 19 pandemic. There were numerous canceled events around the world, including sports matches and exhibitions. Moreover, corporate offices are opened with fewer employees while others are working from home. Due to this, the market experienced a shortfall in the sales of apparel due to restricted production, disturbed supply chains, and reduced demand. Considering this short slack in market revenue, it is expected that the sector will soon witness healthy growth in the upcoming years after COVID-19 restrictions.
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Asia Pacific is forecast to expand with a CAGR of 5.8% from 2022 to 2028. The low labor costs and easy availability of raw materials in this region attract many multinational firms, which leads to more job opportunities
The cotton segment contributed the second-largest revenue share to the global market of more than 30.0% in 2021. In comparison with other synthetic and natural fibers, cotton is one of the most preferred fabrics in the industry since it is comfortable and has minimal side effects on the skin
Offline distribution channels contributed to a larger market share of more than 75% in 2021. The segment includes organized retail channels which are more customer-oriented and provide better services by selling a variety of apparel directly to the end-users
Grand View Research has segmented the women’s suits and ensembles market based on Fiber, Distribution Channel, and region:
Women’s Suits And Ensembles Fiber Outlook (Revenue, USD Million, 2017 - 2028)
Women’s Suits And Ensembles Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
Women’s Suits And Ensembles Regional Outlook (Revenue, USD Million, 2017 - 2028)
Central & South America
Middle East & Africa
List of Key Players in the Women’s Suits And Ensembles Market
Guccio Gucci S.p.A.
Giorgio Armani S.p.A.
Burberry Group Plc
Dolce & Gabbana S.r.l.
Gianni Versace S.r.l.
Louis Vuitton, Inc.
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