Women's Coats And Jackets Industry Overview
The global women’s coats and jackets market size was valued at USD 75.03 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2028.
Increasing number of working women, rising per capita income, and purchasing power are attributing to the growth of the market. Additionally, rising corporate culture across the globe is contributing to the growth of the market. Moreover, manufacturers are adopting automatic machines to increase production and at the same time reducing the cost associated. The manufacturers are focusing on increasing their customer base by reaching them in different ways such as through e-commerce platforms and offering discount schemes.
The coats and jackets for women are outer garments and used for warmth or fashion. Coats and jackets are typically manufactured with long sleeves. Both coats and jackets have collars, lapels, and pockets. The fabric used for coats and jackets are velvet, jacquard, wool, fur, and leather. These products are available in different styles, colors, and designs for multiple usages which includes casual, formal, and cocktail party. Both coats and jackets are available in long and short lengths which in turn will drive the industry demand.
Gather more insights about the market drivers, restrains and growth of the Global Women's Coats And Jackets Market
The initial strict lockdowns imposed by the governments of various nations due to the COVID-19 pandemic, coupled with the strict travel restrictions affected the market. This led to the cancelation of various sports events, exhibitions, and other public events across the world. Moreover, corporate offices were functional but with less number of employees while most employees were advised to work from home. Due to this, the market experienced a shortfall in the sales of apparel due to restricted production, disturbed supply chains, and reduced demand. Considering this short slack in market revenue, it is expected that the sector will soon witness healthy growth in the upcoming years after COVID-19 restrictions.
The growing expenditure of independent women on stylish clothing across the globe is contributing to the market growth. The growing encouragement of online shopping platforms across emerging economies such as China, India, and others are driving the market. Additionally, the e-commerce platforms offer various designs with current trends that are surging the demand for the market.
The companies are providing various exciting offer discounts through online platforms to invite more customers to its online platform further accelerating the market growth. Additionally, vendors who are functioning as retail stores are mounting their business to online channels to reach a larger customer base to engendering sales. In addition, the key players are investing in the latest technology such as AI and AR to increase their customer satisfaction, through which they can quickly try and test the products without any personal touch. Therefore, these factors will be are expected to generate large sales during the forecast period.
Along with this, the rising number of working women, growing per capita income, and purchasing power are the other influencing factors in the market. Additionally, increasing corporate culture across the globe is contributing to the growth of the market. The apparel manufacturers are adopting advanced manufacturing machines to increase production that can further support the growth of the apparel industry.
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Key Companies Profile
Some of the prominent players in the global women’s coats and jackets market include:
- Dior
- CHANEL
- Guccio Gucci S.p.A.
- PRADA
- Burberry Group Plc
- Giorgio Armani S.p.A.
- Dolce & Gabbana S.r.l.
- Gianni Versace S.r.l.
- Louis Vuitton, Inc.
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