Market Analysis and Insights:
The market for Global Cashmere Clothing was estimated to be worth USD 3.21 billion in 2022. The market is projected to grow from USD 3.34 billion in 2023 to USD 4.45 billion by 2030, exhibiting a CAGR of 4.21% during the forecast period.
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"The Global Cashmere Clothing Market 2020-2030 (USD Billion)")
The growth and popularity of the Cashmere Clothing Market are propelled by various significant factors. One key contributor is the increasing disposable income of consumers globally, leading to a ened demand for cashmere apparel. With greater financial resources, individuals are more inclined to invest in cashmere garments renowned for their exceptional softness, comfort, and long-lasting quality. Furthermore, the escalating awareness of sustainability and ethical fashion practices has fostered a surge in the preference for eco-friendly and sustainable materials such as cashmere. This natural fiber can be sourced without causing harm to animals, making it a sought-after option for ethically conscious buyers.
The expansion of e-commerce platforms and online retail outlets has also played a pivotal role in enhancing accessibility to cashmere clothing, thereby broadening its consumer base and consequently accelerating market growth. Additionally, the continuous evolution of design trends and innovations within the fashion industry serves to maintain the allure of cashmere as a desirable choice for individuals seeking fashionable yet timeless attire. Collectively, these driving forces underpin the sustained growth and promising market prospects of the Cashmere Clothing Market.
Cashmere Clothing Market Scope :
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 4.45 billion |
| Growth Rate | CAGR of 4.21% during 2023-2030 |
| Segment Covered | By Product,By Demography ,By Distribution Channel,By Region . |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Loro Piana, Brunello Cucinelli, Inner Mongolia Erdos Group, Autumn Cashmere, Consinee Group, Kingdeer, Tianshan Wool, Erdos Cashmere Group, Gobi Corporation, and Dongrong Group. |
Market Definition
Cashmere apparel pertains to attire crafted from the exquisite and opulent fiber sourced from the undercoat of cashmere goats. Renowned for its luxurious texture, exceptional warmth, and adaptability, cashmere garments are greatly coveted for their premium caliber and modern flair.
Clothing made from cashmere is highly valued for its luxurious and distinctive qualities. Originating from the delicate and fine fibers of the cashmere goat, this material is renowned for its exceptional warmth, softness, and insulating characteristics, rendering it highly sought-after in chilly environments and winter seasons. Moreover, cashmere apparel is esteemed for its robustness, owing to the durability of its fibers. Beyond providing superb insulation, it is light and breathable, ensuring comfort in various climates. Additionally, cashmere is a premium fabric epitomizing quality and sophistication, which accounts for its popularity in high-end fashion. Its timeless elegance and adaptability make it a prized asset in any wardrobe. All in all, cashmere outfits combine style and practicality, embodying an essential and worthwhile investment for individuals who value both comfort and aesthetics.
Key Market Segmentation:
Insights On Key Product
Sweaters and Coats:
The part of Sweaters and Coats is projected to dominate the Global Cashmere Clothing market. Cashmere sweaters and coats offer a combination of luxury, comfort, and warmth, making them highly desirable among consumers. Additionally, these products are versatile and can be worn in various settings, from casual to formal. The increasing demand for premium and high-quality clothing, coupled with the growing disposable income of consumers, contributes to the dominance of this part in the market.
Bottom wear:
Among the other parts of Cashmere Clothing, Bottom wear holds significant potential in the market. Cashmere bottoms, like trousers and skirts, merge sophistication with comfort, appealing to fashion-forward consumers seeking luxury and style in their daily wear. The increasing awareness of sustainable and eco-friendly clothing options further fuels the demand for cashmere bottom wear.
Shirts & T-shirts:
While Sweaters and Coats dominate the market, Shirts & T-shirts part also holds a notable share in the Global Cashmere Clothing market. Cashmere shirts and T-shirts provide a luxurious yet casual appeal, making them suitable for various occasions. The softness and lightweight nature of cashmere fabric make it a preferred choice for consumers looking for comfortable yet refined clothing options. Moreover, the increasing adoption of cashmere clothing as a fashion statement further drives the demand for cashmere shirts and T-shirts.
Others:
The part of Others within Cashmere Clothing encompasses a range of products such as dresses, jumpsuits, and accessories like scarves and gloves. While this part offers diverse choices for consumers, it is expected to hold a smaller share compared to Sweaters and Coats, Bottom wear, and Shirts & T-shirts. However, the demand for cashmere dresses and jumpsuits as occasional wear, along with the popularity of cashmere accessories for their warmth and elegance, contributes to the overall growth of this part in the Global Cashmere Clothing market.
Insights On Key Demography
Women
The women's is expected to dominate the global cashmere clothing market. The popularity of cashmere clothing among women can be attributed to factors such as the availability of a wide range of styles, designs, and colors that suit women's fashion preferences. Additionally, women are more inclined towards luxury and high-end fashion, making them a key target market for cashmere clothing brands. The rising disposable income of women, especially in developing countries, is also contributing to the growth of this .
Men
The men's in the global cashmere clothing market is expected to witness significant growth. Increasing fashion consciousness among men, along with a growing preference for comfortable and high-quality clothing, is driving the demand for cashmere clothing in this . Additionally, the rising disposable income of men and changing perceptions of fashion have led to a greater acceptance of luxury clothing materials like cashmere.
Kids
Although the kids' in the global cashmere clothing market is relatively smaller, it is witnessing steady growth. Parents are becoming increasingly conscious about providing the best quality clothing for their children, which includes garments made from premium materials such as cashmere. The rising trend of dressing kids in stylish and fashionable clothing is further contributing to the growth of this.
Others
The others includes demographics such as teenagers, elderly individuals, and people with specific fashion preferences. While this may have a niche market, it contributes to the overall growth of the cashmere clothing market. Factors such as the demand for unique and trendy clothing options by teenagers, the preference for comfortable clothing by the elderly, and the fashion preferences of individuals with specific tastes and styles contribute to the growth of this .
Insights On Key Distribution Channel
Online
The dominant part among the By Distribution Channel (Online, Offline) in the Global Cashmere Clothing market is the Online distribution channel. Online retail has gained significant traction in recent years, driven by the convenience of purchasing cashmere clothing from the comfort of home, along with the availability of diverse product choices and competitive prices. Additionally, online platforms provide detailed product information, customer reviews, and easy return policies, instilling trust and confidence among consumers.
Offline
While the Online dominates the Global Cashmere Clothing market, the Offline distribution channel still holds relevance and caters to a specific consumer base. Offline retail encompasses brick-and-mortar stores, boutiques, and department stores, providing customers with a physical shopping experience. These stores often offer personalized assistance, enabling customers to touch, feel, and try on the cashmere clothing before making a purchase. Offline shopping can be preferred by some consumers who value the tactile experience and immediate gratification of in-store purchases.
Insights on Regional Analysis:
Asia Pacific
The Asia Pacific region is projected to lead the global cashmere clothing market, mainly due to its significant presence in the cashmere production sector, notably in countries like China, Mongolia, and India. The demand for cashmere clothing in Asia Pacific is driven by factors like increasing disposable income, changing fashion trends, and a growing preference for luxury and high-quality products. Additionally, the region benefits from a well-established supply chain and favorable government regulations that promote cashmere production and trade.
Europe
Europe holds significant potential in the global cashmere clothing market. The region is known for its rich heritage in fashion and luxury goods, making it a prominent consumer of cashmere clothing. With countries like Italy, Scotland, and England having a long-standing tradition of manufacturing and producing cashmere garments, Europe maintains a strong market position. The region also benefits from a high demand for premium and sustainable products, with consumers valuing the quality, durability, and exquisite craftsmanship of European-made cashmere clothing.
North America
North America exhibits a growing demand for cashmere clothing, driven by factors such as rising disposable income, a strong fashion-conscious consumer base, and the influence of celebrities and influencers. While not dominating the global market, North America represents a significant with a reputation for quality cashmere products. The region also benefits from a well-developed retail infrastructure, online platforms, and a preference for eco-friendly and sustainable fashion. Major players in the North American market for cashmere clothing include the United States, Canada, and Mexico.
Middle East & Africa
The Middle East & Africa region shows promising growth prospects in the global cashmere clothing market. While not dominating, the region is increasingly embracing luxury and high-end fashion, leading to a surge in demand for premium cashmere garments. Wealthy individuals, expatriates, and tourists contribute significantly to the market, as they seek luxury brands and exclusive products. The Middle East, in particular, with its affluent population and significant consumer spending, plays a crucial role in driving the demand for cashmere clothing in this region.
Latin America
Latin America represents a smaller but emerging in the global cashmere clothing market. The region showcases potential for growth due to increasing disposable incomes, a growing middle-class population, and a higher appreciation for luxury goods. Countries such as Brazil, Argentina, Chile, and Mexico exhibit a rising demand for high-quality cashmere garments, driven by fashion-conscious consumers and evolving lifestyle trends. While it may not dominate the global market, Latin America presents opportunities for cashmere clothing manufacturers and retailers to tap into a developing market with untapped potential.
Company Profiles:
Prominent participants in the international cashmere apparel industry are essential drivers of the sector's advancement and creativity, thanks to their diverse range of products, strong brand presence, and expansive worldwide supply chains. Their ongoing efforts focus on elevating customer experience through a commitment to exceptional quality and ethical sourcing methods.
Prominent entities in the cashmere apparel sector are Loro Piana, Brunello Cucinelli, Inner Mongolia Erdos Group, Autumn Cashmere, Consinee Group, Kingdeer, Tianshan Wool, Erdos Cashmere Group, Gobi Corporation, and Dongrong Group. These renowned organizations have solidified their positions in the worldwide cashmere clothing market by offering a diverse array of opulent and premium cashmere goods to a global customer base. As frontrunners in this field, they are dedicated to pioneering and introducing fresh styles to meet the evolving fashion preferences and requirements of their clientele. Through their well-established brand recognition and expansive distribution channels, these major players profoundly influence the progress and maturation of the cashmere apparel sector.
COVID-19 Impact and Market Status:
The global demand for cashmere clothing has decreased significantly amid the Covid-19 pandemic, largely influenced by the economic instability and evolving fashion preferences that have caused a downturn in consumer interest in luxury goods.
The global cashmere clothing market has faced significant challenges due to the effects of the COVID-19 pandemic. The implementation of lockdowns and social distancing measures on a global scale has caused a decrease in the demand for luxury fashion items, as consumers prioritize essential goods. The restrictions on international travel have led to a reduction in the demand for cashmere garments, especially in popular tourist destinations. Furthermore, the closure of brick-and-mortar retail outlets and the transition to online shopping by consumers have exacerbated the challenges in the industry.
Supply chain disruptions and factory closures during the pandemic have led to production delays and reduced inventory levels. Despite these obstacles, there have been some signs of recovery in certain regions as restrictions have been lifted. The growing emphasis on sustainability and ethical consumerism presents an opportunity for the cashmere clothing market to make a comeback in the post-pandemic era. While the cashmere clothing market has been negatively affected by the COVID-19 crisis, the industry has demonstrated resilience and an ability to adapt to the changing market landscape.
Latest Trends and Innovation:
- In November 2020, Loro Piana, a luxury Italian brand specializing in cashmere clothing, announced its collaboration with Sotheby's to auction off a one-of-a-kind cashmere coat made from rare gray cashmere. The coat achieved a record-breaking price of $210,000.
- In September 2020, Ermenegildo Zegna, an Italian luxury fashion house, acquired a majority stake in Agnona, a high-end cashmere brand known for its fine materials and craftsmanship. This acquisition expanded Zegna's presence in the luxury cashmere clothing market.
- In August 2020, Naadam, a sustainable cashmere brand based in the United States, launched a new collection called "The Ribbed Cashmere" featuring innovative knitting techniques that enhance the softness and durability of their cashmere products.
- In July 2020, Burberry, a British luxury fashion brand, unveiled its first-ever standalone store dedicated solely to cashmere garments in Shanghai. This move highlights the growing demand for cashmere clothing in the Chinese market.
- In April 2020, Kit and Ace, a Canadian apparel brand specializing in technical cashmere, announced its partnership with Loro Piana to introduce a new range of performance cashmere clothing. This collaboration aimed to combine Kit and Ace's technical expertise with Loro Piana's premium cashmere materials.
- In March 2020, The Elder Statesman, an American luxury brand, launched its first sustainable cashmere collection. The collection featured garments made from recycled cashmere yarns, aligning with the brand's commitment to environmental responsibility.
- In January 2020, Pringle of Scotland, a renowned Scottish cashmere brand, celebrated its 205th anniversary by showcasing a collection titled "205" during London Fashion Week. The collection paid homage to the brand's rich heritage and expertise in producing high-quality cashmere garments.
Significant Growth Factors:
The expansion of the Cashmere Apparel Industry can be linked to the rise in disposable incomes, increasing fashion influences, and a growing recognition of sustainable and high-end fashion.
The market for Cashmere Clothing has seen notable growth recently, driven by a variety of key factors. Primarily, the rise in consumer disposable income has played a pivotal role in this expansion. With greater financial resources at their disposal, individuals are increasingly inclined to invest in premium, luxurious cashmere apparel. Furthermore, the ened focus on sustainability and ethical fashion has bolstered the demand for cashmere clothing. Cashmere is renowned for its natural, renewable, and biodegradable properties, making it an appealing option for environmentally conscious consumers. Additionally, the growing influence of social media and fashion influencers has contributed to the market's upward trajectory. Celebrity endorsements and promotions by fashion bloggers have significantly raised the visibility and desirability of cashmere garments among the public. Advancements in manufacturing techniques and technology have also been instrumental in enhancing the quality and affordability of cashmere clothing, making it more accessible to a wider customer base. Lastly, the expanding global market and the facilitation of international trade have enabled cashmere clothing to tap into new markets and gain traction worldwide. In conclusion, the convergence of factors such as rising disposable incomes, sustainability trends, social media impact, technological advancements, and global market expansion has been pivotal in driving the growth of the Cashmere Clothing Market.
Restraining Factors:
Factors such as the elevated cost and restricted supply of cashmere fibers serve as inhibiting elements within the cashmere apparel industry.
The Cashmere Clothing Market encounters various factors that impede its growth and progress. The high pricing of cashmere apparel stands out as a notable deterrent for many buyers, with these items often being viewed as luxury goods commanding premium prices that are beyond the reach of the average consumer. Additionally, the limited availability of cashmere fibers and the restricted regions suitable for rearing cashmere goats create bottlenecks in the supply chain, leading to ened production costs. Furthermore, the market faces stiff competition from more affordable synthetic fabrics and natural fibers like merino wool, offering similar comfort and warmth at a lower price point, appealing to cost-conscious consumers. Sustainability concerns pose another challenge, as the extensive grazing requirements for cashmere goats can result in overgrazing and environmental degradation, presenting significant ecological issues. The combination of these obstacles, along with economic uncertainties and the aftermath of the COVID-19 pandemic, has led to a slowdown in the growth of the Cashmere Clothing Market.
Despite these challenges, there remains an optimistic outlook for the cashmere clothing sector. A promising factor is cashmere's renowned softness and warmth, which continues to draw consumers seeking high-quality and luxurious apparel. Brands can seize the opportunity to highlight the sustainability and ethical standards employed in their cashmere production processes, reassuring customers about responsible sourcing practices and showcasing their dedication to environmental preservation. Moreover, advancements in cashmere production technologies, such as enhanced breeding approaches and innovative fiber extraction methods, have the potential to enhance supply levels and reduce production expenses. By addressing these impediments and leveraging the distinctive features of cashmere, the market can evolve and flourish, capturing a niche clientele appreciative of the unparalleled comfort and sophistication offered by this exceptional fabric.
Key Segments of the Cashmere Clothing Market
Product Overview
- Cashmere Sweaters and Coats
- Cashmere Bottom Wear
- Cashmere Shirts & T-shirts
- Others
Demography Overview
- Men
- Women
- Kids
- Others
Distribution Channel Overview
- Online
- Offline
Regional Overview
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- U.K
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
Middle East and Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Frequently Asked Questions (FAQ) :
Loro Piana, Brunello Cucinelli, Inner Mongolia Erdos Group, Autumn Cashmere, Consinee Group, Kingdeer, Tianshan Wool, Erdos Cashmere Group, Gobi Corporation, and Dongrong Group.
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The base year for the report is 2023 in cashmere clothing market.