The Cashmere Clothing Market is Predict to reach USD 4.2 Billion by 2031, at a CAGR of 6 %

10-Jun-2024 | Report Format: Electronic (PDF)

Cashmere Clothing Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Cashmere Clothing Market size is expected to reach $4.2 billion by 2031, rising at a market growth of 6.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 11,850.9thousand units, experiencing a growth of 18.2% (2020-2023).

The Men segment is anticipating a CAGR of 6.4% during (2024 - 2031). The casualization of work attire, particularly with the rise of remote and hybrid working environments, has led men to seek versatile and comfortable clothing that can be worn in various settings. Cashmere sweaters, cardigans, and even casual blazers offer comfort and professionalism, making them ideal for the modern workplace.

Cashmere Clothing Market Size - By Region

The Sweaters & Coats segment is leading the Global Cashmere Clothing Market by Product in 2023; thereby, achieving a market value of $1.9 billion by 2031. Sweaters and coats are essential for cold weather, making them a primary choice for consumers looking to stay warm. Cashmere, known for its exceptional warmth and softness, is highly sought after for these garments. The need for warm clothing during the fall and winter seasons drives significant demand in this segment.

The Online segment is registering a CAGR of 6.6% during (2024 - 2031). Online shopping offers unparalleled convenience, allowing consumers to browse and purchase cashmere clothing from the comfort of their homes anytime. This accessibility particularly appeals to busy individuals who may not have the time to visit physical stores. Also, e-commerce platforms often provide a wider selection of cashmere products than physical stores.

Full Report: https://www.kbvresearch.com/cashmere-clothing-market/

The Europe region dominated the Global Cashmere Clothing Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.4 billion by 2031. The Asia Pacific region is experiencing a CAGR of 6.5% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 5.6% during (2024 - 2031).