The women's coats and jackets market size was valued at USD 74.93 billion in 2021 and is expected to expand to reach USD 107.04 billion at a compound annual growth rate (CAGR) of 4.56% from 2022 to 2030. An increasing number of working women increased per capita income, and purchasing power is adding to the expansion of the market. Additionally, developing a corporate culture around the globe is adding to the growth of the market. Moreover, businesses are implementing automatic machinery to enhance output while at the same time reducing cost-related. The manufacturers are working on boosting their consumer base by engaging them in numerous methods such as through e-commerce platforms and giving discount schemes.
Coats and jackets are examples of outerwear that can be worn for either practical or aesthetic reasons. Long sleeves are frequently included as a standard manufacturing option for coats and jackets. Coats and jackets share characteristics such as collars, lapels, and pockets. Velvet, jacquard, wool, fur, and leather are some of the fabrics that are used to make coats and jackets. These items are offered in a wide variety of silhouettes, hues, and patterns to accommodate a variety of settings and occasions, including cocktail parties, business meetings, and more. The fact that coats and jackets may be purchased in both long and short lengths contributes to the flexibility offered by the business to meet customer preferences.
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An increasing number of working women increased per capita income, and purchasing power is adding to the expansion of the market. Additionally, developing a corporate culture around the globe is adding to the growth of the market. Moreover, businesses are implementing automatic machinery to enhance output while at the same time reducing cost-related. The manufacturers are working on boosting their consumer base by engaging them in numerous methods such as through e-commerce platforms and giving discount schemes.
The expansion of the market is helped along by the rising proportion of self-sufficient women throughout the world who spend money on fashionable apparel. The industry is being driven by the increasing acceptance of online shopping platforms in developing economies such as China, India, and others. In addition, the e-commerce platforms offer a variety of designs that are up to date with the most recent trends, which is driving up the demand in the market.
To attract more clients to their online platforms and further accelerate the expansion of the industry, the businesses are offering a variety of enticing discounts and offers that are made available through those platforms. In addition, suppliers that also operate as retail establishments are expanding their businesses using online platforms to attract a broader consumer base and generate more sales. In addition, the leading companies are investing in the most cutting-edge technologies, such as AI and AR, to boost the level of customer pleasure they provide. This will allow customers to swiftly sample and test items without the need for a personal touch. As a result, it is anticipated that substantial sales will result from these variables throughout the time under consideration.
The market was impacted negatively as a result of the first stringent lockdowns that were enforced owing to the COVID-19 epidemic by the governments of numerous nations, as well as the stringent travel restrictions. Because of this, a number of sporting events, exhibits, and other types of public events had to be postponed or cancelled throughout the world. Additionally, corporate offices remained functioning despite having a smaller number of employees since the majority of workers were directed to perform their duties from the comfort of their own homes. As a consequence of this, the industry as a whole witnessed a decrease in sales of clothing as a consequence of reduced production, disrupted supply chains, and lower levels of demand.
The women's coats and jackets market is segmented into the following categories: Weight, Distribution Channel and Region.
The medium-weight segment was responsible for the biggest revenue contributor to the worldwide market in 2021, amounting to more than 40.0 %, and it is anticipated to increase at a compound annual growth rate of 4.3 % from 2022 to 2028. The medium weight section has a weight range of between 300 and 450 g/. Jacquard, denser wool, and cashmere are some of the textiles that are included in this category. Because they are worn throughout the transitional period between seasons, they have gained a lot of popularity among end-users.
A compound annual growth rate (CAGR) of 5.7 % is anticipated for the Lightweight sector between the years 2022 and 2028. Up to 300 grammes is the range for the lightweight class. Velvet, tweed, and boucle, as well as other delicate wool textiles and velvet, are included in this category. The growth in demand for lightweight coats and jackets among end users led to an increase in budget allocations for lightweight fabric research and development by manufacturers. As a result, it is projected that this sub-segment would show the highest growth rate.
Based on distribution channel the market is divided into the following: Offline and Online. In 2021, the offline distribution channel was responsible for contributing to a bigger market share of more than 75 %. Retail stores, hypermarkets and supermarkets, and exclusive shops are all examples of offline distribution methods. The conventional retail channel is utilised by manufacturers and marketers in order to generate greater sales. This sector includes structured retail channels, which are characterised by a heightened focus on the needs of the end-users they serve and an improvement in the quality of the services they offer as a result of doing so. In addition to this, these stores provide a selection of physical verification and trials & facilities of items to the customers, which helps contribute to the overall income of the industry.
It is anticipated that the online distribution channel would record a quicker growth rate of the compound annual growth rate of 5.8 % between the years 2022 and 2028. Authentic online shopping portals, an increase in internet penetration, an increase in the use of smart devices, the availability of inexpensive products in comparison to those sold through offline channels, and the availability of hassle-free payment options provided by e-commerce companies are the primary factors that are supporting the growth of this market segment.
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From 2022 to 2028, it is anticipated that Asia Pacific would expand at the greatest CAGR, which will be 5.5 %. Both China and India are making significant contributions to the development of the industry. The region is seeing a significant increase in the demand for clothes as a result of its rapidly expanding population and rising per capita income. Due to the low cost of labour and the ease of obtaining raw materials, many international firms are expanding their operations in this region. This will result in an increase in the number of people who are employed. The development of more advanced information technologies is also making a favourable contribution to the expansion of the industry. As a result, the area would see growth at a rate equivalent to the greatest CAGR throughout the period covered by the forecast.
In 2021, Europe was the region that supplied the biggest market share, which was greater than 30 %. Revenue on the market is being bolstered by the favourable contributions of economically developed nations such as Germany, the United Kingdom, and France. A population that is financially independent, a greater income per capita, and shifting fashion trends are prominent variables that are likely to have a significant influence on the expansion of the industry in this region.