Cashmere Clothing Market Share, Size, Trends, Industry Analysis Report, By Product (Sweaters & Coats, Pants & Trousers, Tees & Polo, and Others); By End Use; By Distribution Channel; By Region; Segment Forecast, 2022-2030
- Published Date:Dec-2022
- Pages: 118
- Format: PDF
- Report ID: PM2929
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global cashmere clothing market was valued at USD 2,068.63 million in 2021 and is expected to grow at a CAGR of 6.2% during the forecast period.
Cashmere yarn is used to make cashmere clothing products due to its properties such as being stronger than some other wool, lighter, smoother, and finer than some other wool. It is also more easily adapted to various temperatures due to its high water content, and it also contributes to the aesthetic appeal of the product. All of these characteristics have contributed to the expansion of cashmere products.
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Cashmere is regarded as the best yarn, and when it is woven into clothing, the results are soft, opulent, and long-lasting while also costing more than other types of clothing. T-shirts, polo shirts, trousers, sweaters, coats, and other items are typically made with them.
The flexible nature of this product, which is the main reason fueling the expansion of this cashmere clothing market, has led to an increase in its appeal. Additionally, the rising demand for luxury clothing and its propensity to enhance aesthetically pleasing clothing are the elements promoting the expansion of this industry.
Clothing made of cashmere is becoming much more popular and in demand. Urban consumers in affluent India are becoming more concerned with their appearance, a trend fueled by rising disposable incomes, corporate positions, and the impact of Bollywood and Hollywood. Some of the customers are also well-traveled and knowledgeable about global fashion trends.
These wealthy men and women are prepared to splurge and treat themselves to high-end apparel. The number of working women in Indian society is also increasing as a result of shifting social standards. This consumer base, which enjoys financial freedom and the ability to make judgments, will be essential to the expansion of the fashion sector.
However, the expensive cost of the product due to the substantial manufacturing costs is impeding the growth of this market, and the scarcity of raw materials is also posing problems for the cashmere clothing industry.
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Industry Dynamics
Growth Drivers
The market is anticipated to increase as a result of new markets opening up, major players focusing on launch or trending clothes, and rising demand for items like coats and t-shirts made of cashmere. For instance, in October 2022, the fall cashmere clothing collection from QUINN has just been released. The newly introduced line aims to provide a distinct selection of cashmere clothing that is elegant, sophisticated, and perfect for both men and women. Men's and women's cashmere turtlenecks, sweaters, shirts, and tops are all available in the QUINN cashmere clothing range.
Furthermore, in October 2022, the New cashDenim series was introduced by Loro Piana S.P.A. 60 percent denim and 40 percent cashmere are blended and slowly woven on conventional looms by Loro Piana S.P.A. for the CashDenim line. The Italian house, known for using some of the world's rarest and most valuable raw materials, combines ancestor tradition with cutting-edge technology to provide a discerning clientele with masterpieces of unmatched excellence. Thus, the rising product launches based on cashmere for men, women, and children are boosting the growth of the market over the forecast period.
Report Segmentation
The market is primarily segmented based on end-user, product, distribution channel, and region.
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By Product |
By End-User |
By Distribution Channel |
By Region |
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The women segment is expected to witness the fastest growth
The end-user group for women held the fastest-growing market share globally. This is related to women's increasing desire for scarves and shawls. To engage consumers, manufacturers have begun releasing products with a range of patterns and designs. In September 2022, Oasi Cashmere, a completely traceable line of cashmere from Zegna, has been introduced as a new paradigm of ecological and commercial awareness. Additionally, they have begun creating distinctive ornaments from this fabric. Because there is such a strong demand for cashmere shawls and scarves around the world, and because many designers are releasing new designs and patterns on cashmere items, the market for women's end-users is anticipated to account for the greatest proportion of the overall market.
The sweaters and Coats segment industry accounted for the highest market share in 2021
The Sweaters & Coats category is anticipated to have the highest share during the forecasted period due to the rising demand for various types of luxury sweaters and coats, comprising casual and formal wear. The major players are also focusing on the launches of products such as sweaters and coats bolstering the market growth over the forecast period. For instance, in November 2019, Duke introduced a large selection of classic-styled sweaters and jackets.
The demand in Europe is expected to witness significant growth
The rising demand for such cashmere garments in nations like the United Kingdom, Italy, and Germany is responsible for this growth. Additionally, the expansion of the fashion industry and the existence of numerous upscale companies in this region are anticipated to promote market expansion.
Furthermore, due to rising brand consciousness and consumer awareness among consumers in the region, the Asia Pacific has been witnessing rapid growth. The countries with the highest levels of luxury clothing penetration are China, Hong Kong, and India. Due to the increasing demand, several brands are opening their outlets and exploring the region's undiscovered markets. Some businesses are attempting to break into the market for upscale children's clothing after looking into its potential.
Also, the top five cashmere wool producers are China, Mongolia, Afghanistan, Iran, and Turkey. Although not all cashmere clothing is similarly expensive, it is frequently seen as a luxury item. increased demand for high-end clothing and the influence of fashion as a global culture are the two main factors driving the market for Asia-Pacific. Increased disposable income and global media and internet adoption are all factors that support the market for cashmere garments.
Competitive Insight
Some of the major players operating in the global market include Autumn Cashmere., Alyki - Felice De Palma, Burberry Group, Brunello Cucinelli, Cashmere Holdings, Corso Italia, Dolce & Gabbana, Erdos Group, Ermenegildo Zegna Holditalia, Giorgio Armani, Herms International, Huzhou Zhenbei Cashmere, Kering S.A., Loro Piana, Maiyet Corp., Malo GmbH, Ralph Lauren Corp., and SofiaCashmere Corp.
Recent Developments
In September 2019, Pringle of Scotland, a supplier of upscale knitwear in Scotland, partnered with H&M. The partnership also includes variations of Pringle's well-known argyle sweater. The collaboration will boost the designs for cashmere clothes.
In October 2021, Loro Piana has partnered with Japanese streetwear artist Hiroshi Fujiwara. The company is well renowned for its traditional tailoring and the creation of quality fabrics.
Cashmere Clothing Market Report Scope
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Report Attributes |
Details |
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Market size value in 2022 |
USD 2,191.30 million |
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Revenue forecast in 2030 |
USD 3,545.65 million |
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CAGR |
6.2% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
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Segments Covered |
By Product, By End-User, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Autumn Cashmere Inc., Alyki - Felice De Palma & Co., Burberry Group plc., Brunello Cucinelli S.p.A., Cashmere Holdings Company, Corso Italia S.p.A., Dolce&Gabbana, Erdos Group, Ermenegildo Zegna Holditalia S.p.A., Giorgio Armani S.p.A., Herms International S.A., Huzhou Zhenbei Cashmere Products Co., Ltd., Kering S.A., LVMH Moet Hennessy Louis Vuitton SE, Loro Piana S.P.A, Maiyet Corp., Malo GmbH, Pringle of Scotland Limited, Ralph Lauren Corporation, and SofiaCashmere Corp |
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