The global cashmere clothing market size is expected to reach USD 3.50 billion by 2025 registering a CAGR of 3.96%, according to a new report by Grand View Research, Inc. Cashmere clothing products are made using Cashmere yarn. This type of wool is better than any traditional wool, in terms of quality. It is finer, softer, lighter, as well as stronger than other wool types. It also has high moisture content and hence it is easily adjustable to different temperatures. Moreover, it helps enhance the aesthetic appeal.
These factors are expected to augment the product demand, thereby supporting market growth. Rising product popularity and demand for premium quality clothing across the globe due to increased disposable income levels and the impact of social media and digital marketing will fuel the growth further. However, high production costs and limited raw material supply may hinder market growth. Sweaters & coats, pants & trousers, and tees & polo are the major types of Cashmere clothing. These products are comparatively costly and thus are considered as luxury clothing apparels.
North America is expected to be the fastest-growing regional market from 2019 to 2025 due to the increased sales of these products. Europe being the fashion hub of the world is estimated to account for the largest market share by 2025. Moreover, presence of several prominent global luxury brands in Europe will drive the regional market. Some of the key companies in this market are Loro Piana S.p.A, Ermenegildo Zegna Holditalia S.p.A., Brunello Cucinelli S.p.A., SofiaCashmere, Autumn Cashmere, Alyki — Felice De Palma & Co., and Pringle of Scotland Ltd.
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Further key findings from the study suggest:
- Sweaters & coats product type segment is projected to account for the largest share of the global Cashmere clothing market by 2025
- Based on end user, the women segment led the global market in 2018. However, the men end-user segment is estimated to register the fastest CAGR from 2019 to 2025
- Europe was the dominant regional market in 2018 and is projected to expand further at a steady CAGR over the forecast years
- APAC is said to be the second fastest-growing market due to rising disposable income levels and improved standards of living in emerging countries like India, South Korea, China, and Japan
