The global Women’s Blazer Market size was valued at USD 61.9 billion in 2021 and is projected to reach USD 86.36 billion by 2030 at a CAGR of 3.77% from 2022 to 2030.
Women's Blazers is a broad category of products that includes formalwear, casualwear, and ethnic wear. Global demand for luxury and premium apparel has increased in recent years as disposable incomes and the influence of social media, celebrity endorsements, and fashion magazines have grown. As a result, leading brands offer fashion-conscious individuals exclusive high fashion clothing in various sizes and price ranges. The industry is also observing a shift in consumer preferences toward eco-friendly clothing due to changing lifestyles and the rising popularity of sustainable fashion.
Women's coats and blazers are outerwear worn for warmth and/or style. Typically, long sleeves are featured on coats and blazers. Coats and blazers share the same collars, lapels, and pockets. Velvet, jacquard, wool, fur, and leather are used to construct coats and blazers. These items are available in a variety of styles, hues, and patterns for multiple occasions, including informal, formal, and cocktail party attire. Coats and blazers are available in both long and short lengths, which will drive demand within the industry. Moreover, manufacturers are adopting automatic machines in order to increase production while simultaneously reducing associated costs.
Moreover, the increasing popularity of visual merchandising and fashion rental services contributes to the growth of branded apparel sales. In addition, the adoption of innovative strategies, such as mass customization and personalization, and 3D knitting machines, to reduce production costs and improve quality is anticipated to boost market growth over the next few years.
Contributing to the expansion of the market is the rising expenditure of independent women on fashionable apparel around the world. The market is being driven by the increasing acceptance of online shopping platforms in emerging economies like China, India, and others. In addition, e-commerce platforms provide a variety of designs that reflect the most recent market trends, thereby boosting market demand. In addition to this, the market is also influenced by the increasing number of women in the workforce, rising per capita income, and increased purchasing power. Increasing corporate culture throughout the world also contributes to market expansion. The apparel manufacturers are adopting advanced manufacturing machines to increase production, which will support the industry's continued expansion.
The market was negatively impacted by the initial strict lockdowns imposed by the governments of various nations due to the COVID-19 pandemic, as well as the strict travel restrictions. This resulted in the cancellation of numerous sporting events, exhibitions, and other public gatherings around the globe. In addition, corporate offices were functional despite having fewer employees, while the majority of employees were instructed to work from home. The market experienced a decline in apparel sales as a result of limited production, disrupted supply chains, and decreased demand. Even after the effects of the pandemic are over, many offices are still operating on a work-from-home culture. This disrupts the market growth.
For the purpose of attracting more customers to their online platforms and thereby accelerating the growth of the market, companies are providing a variety of attractive discount offers through online platforms. In addition, vendors operating as retail stores are expanding their operations to online channels in order to reach a greater number of customers and increase sales. In addition, the major players are investing in cutting-edge technologies, such as AI and augmented reality to increase customer satisfaction, allowing customers to quickly test products without human interaction. Consequently, it is anticipated that these factors will result in substantial sales throughout the forecast period.
| Study Period | 2018-2030 | CAGR | 3.77% |
| Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
| Base Year | 2021 | Base Year Market Size | USD 61.9 Billion |
| Forecast Year | 2030 | Forecast Year Market Size | USD 86.36 Billion |
| Largest Market | Asia Pacific | Fastest Growing Market | Europe |
From 2022 to 2030, the Asia-Pacific region is anticipated to experience the highest CAGR of 5.5%. China and India contribute to the market's expansion in a positive way. With the fastest-growing population and rising disposable income, the region is experiencing a substantial increase in clothing demand. Due to the low cost of labour and the availability of raw materials, many multinational corporations are expanding in this region, which will result in a larger labour force. Increasing information technology also positively influences market expansion. Consequently, it is anticipated that this region will experience the highest CAGR during the forecast period.
In 2021, Europe's market share was greater than 30 per cent, making it the largest contributor. Contributing positively to market revenue are economically developed nations such as Germany, the United Kingdom, and France. A financially independent population, a higher income per capita, and shifting fashion trends are anticipated to have a significant impact on the growth of this region's market.
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This market can be segmented on the basis of weight, distribution channel, regions and competitors. On the basis of distribution channels in 2021, offline distribution channels accounted for more than 75% of the market. Exclusive stores, hypermarkets and supermarkets, as well as retail stores, are examples of offline channels. For increased sales, manufacturers and marketers utilise the traditional retail channel. The segment consists of organized retail channels that are more customer-centric and offer superior service by selling a variety of apparel directly to end-users. In addition, these stores contribute to market revenue by providing end-users with the option of physical inspection and trials & facilities.
The online distribution channel is projected to grow at a faster rate of 5.8 per cent per year between 2022 and 2030. Authentic online shopping portals, increasing internet penetration, rising usage of smart devices, the availability of inexpensive products in comparison to offline channels, and hassle-free payment options offered by e-commerce companies are the primary factors driving the expansion of this market segment.
On the basis of weight, more than 40 per cent of the global market's revenue was generated by the medium weight segment in 2021, and it is expected to expand at a CAGR of 4.3% between 2022 and 2030. The segment of medium weight varies between 300 and 450 g/. It includes fabrics such as cashmere, jacquard, and wool with a higher density. These are worn during the transitional season and have become popular among end-users as a result.
From 2022 to 2030, it is anticipated that the lightweight segment will experience the highest CAGR of 5.7%. Up to 300 grammes is the range of the lightweight segment. It includes tweed, boucle, velvet, and thin wool fabrics. Manufacturers increased their budgets for the development of lightweight fabric for coats and blazers, which is gaining popularity among end-users. This segment is therefore anticipated to experience the highest growth rate.
