Global Winter Wear Market is expected to rise from its initial estimated value of USD 401.25 billion in 2018 to an estimated value of USD 613.46 billion by 2026, registering a CAGR of 5.45% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising levels of disposable income of the individuals along with the change in the preferences of the consumers.
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Segmentation: Global Winter Wear Market
Global winter wear market is segmented on the basis of product type, price range, demographic, distribution channel and geography.
By Product Type (Jackets/Coats, Sweaters/Cardigans, Scarves, Shawls, Wraps, Thermals, Suits, Others), Price Range (High Price, Medium Price, Low Price), Demographic (Men, Women, Kids), Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Multi-Brand Stores, Independent Small Retailers, Online Retailers, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN WINTER WEAR MARKET
Increasing levels of disposable income
According to Organization for Economic Co-Operation and Development (OECD), there has been a steady rise in the levels of disposable income in the European Union for top five countries with the highest level of disposable income per capita. This has seen the per capita income of Luxembourg rise from USD 42.21 thousand in 2016 to USD 44.45 thousand in 2017; Germany’s has risen from USD 37.48 thousand in 2016 to USD 39 thousand in 2017; Austria’s has risen from USD 35.65 thousand in 2016 to USD 36.17 thousand in 2017; France’s has risen from USD 33.03 thousand in 2016 to USD 34.04 thousand in 2017; Belgium’s has risen from USD 32.97 thousand in 2016 to USD 33.95 thousand in 2017.
This growth of the per capita disposable income is expected to positively drive the growth of winter wear market.
Global Winter Wear Market, By Product Type (Jackets/Coats, Sweaters/Cardigans, Scarves, Shawls, Wraps, Thermals, Suits, Others), Price Range (High Price, Medium Price, Low Price), Demographic (Men, Women, Kids), Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Multi-Brand Stores, Independent Small Retailers, Online Retailers, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Key Market Competitors: Global Winter Wear Market
Few of the major competitors currently working in the winter wear market are Arc’teryx, Columbia Sportswear Company, Gap Inc., Marmot Mountain LLC, Nike Inc., Patagonia, Eddie Bauer LLC, Zara, Forever21 Inc., Macys.com LLC, VF Corporation, The TJX Companies Inc., Walmart, Canada Goose Inc., Helly Hansen, Adidas, PUMA SE, Under Armour Inc., ASICS Corporation, New Balance, Michael Kors, Ann Inc., J.CREW, Wintergreen Northern Wear, and Fjällräven.
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Global winter wear market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of winter wear market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Developments in the Market:
- In August 2018, Eddie Bauer LLC announced that they are expanding into the European Market, by portraying an online presence in all of the EU countries. They are offering online shopping services in Austria and are expected to expand their share in the region.
- In September 2016, Eddie Bauer LLC launched Eddie Bauer Originals Collection for a limited period of time, available in only a number of stores.
- Constant innovations in the product offerings and added features are expected to be one of the major drivers for the market growth
- Innovative marketing strategies like celebrity endorsements, digital marketing and online product offerings are also expected to drive the market growth
- High prevalence of counterfeit products in the market is expected to act as a restraint to the market growth
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