Women's Coats And Jackets Market (2022 - 2028)

Report Overview

The global women’s coats and jackets market size was valued at USD 75.03 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2028. Increasing number of working women, rising per capita income, and purchasing power are attributing to the growth of the market. Additionally, rising corporate culture across the globe is contributing to the growth of the market. Moreover, manufacturers are adopting automatic machines to increase production and at the same time reducing the cost associated. The manufacturers are focusing on increasing their customer base by reaching them in different ways such as through e-commerce platforms and offering discount schemes.

The coats and jackets for women are outer garments and used for warmth or fashion. Coats and jackets are typically manufactured with long sleeves. Both coats and jackets have collars, lapels, and pockets. The fabric 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 includes casual, formal, and cocktail party. Both coats and jackets are available in long and short lengths which in turn will drive the industry demand.

The initial strict lockdowns imposed by the governments of various nations due to the COVID-19 pandemic, coupled with the strict travel restrictions affected the market. This led to the cancelation of various sports events, exhibitions, and other public events across the world. Moreover, corporate offices were functional but with less number of employees while most employees were advised to work 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.

The growing expenditure of independent women on stylish clothing across the globe is contributing to the market growth. The growing encouragement of online shopping platforms across emerging economies such as China, India, and others are driving the market. Additionally, the e-commerce platforms offer various designs with current trends that are surging the demand for the market.

The companies are providing various exciting offer discounts through online platforms to invite more customers to its online platform further accelerating the market growth. Additionally, vendors who are functioning as retail stores are mounting their business to online channels to reach a larger customer base to engendering sales. In addition, the key players are investing in the latest technology such as AI and AR to increase their customer satisfaction, through which they can quickly try and test the products without any personal touch. Therefore, these factors will be are expected to generate large sales during the forecast period.

Along with this, the rising number of working women, growing per capita income, and purchasing power are the other influencing factors in the market. Additionally, increasing corporate culture across the globe is contributing to the growth of the market. The apparel manufacturers are adopting advanced manufacturing machines to increase production that can further support the growth of the apparel industry.

Distribution Channel Insights

Offline distribution channel 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, and contribute to the market revenue.

Online distribution channel is forecast to register a faster growth of CAGR of 5.8% from 2022 to 2028. The major factors supporting the growth of this segment are authentic online shopping portals, increasing internet penetration, rising usage of smart devices, availability of economical products when compared to offline channels, and hassle-free payment options provided by e-commerce companies.

Weight Insights

Medium weight segment contributed to the largest revenue share of the global market of more than 40.0% in 2021 and is forecast to grow with a CAGR of 4.3% from 2022 to 2028. Medium weight segment ranges from 300 to 450 g/. It includes fabrics such as denser wool, cashmere, and jacquard. These are used to wear during demi-season and thus become popular among end-users.

Lightweight segment is forecast to grow with the highest CAGR of 5.7% from 2022 to 2028. Lightweight segment range is up to 300 g/. It includes fabrics such as tweed and boucle, thin wool fabrics, and velvet. Manufactures had increased budgets for the innovation of lightweight fabric for coats and jackets which becomes popular among the end-users. Thus this segment is anticipated to exhibit the highest growth rate.

Regional Insights

Asia Pacific is forecast to grow with the highest CAGR of 5.5% 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 apparels. Many multinational companies are expanding 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 forecasted to grow with the highest CAGR during the forecast period.

Europe contributed the largest market share of more than 30% in 2021. Well-developed economic countries such as Germany, the U.K., and France are positively contributing to the market revenue. A 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.

Key Companies & Market Share Insights

The women’s coats & jackets market 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 changing fashion consciousness. Additionally, vendors are trying to innovate new preservative techniques to increase the durability of the product. Moreover, vendors are expanding their reach across geographic. Such initiatives are expected to boost the adoption rate of the products among consumers. The vendors are aggressively following the organic as well as inorganic strategies to expand their footprints across the geography. Some of the prominent players in the global women’s coats and jackets market include:

• Dior

• 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.

Women’s Coats And Jackets Market