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Women Formal Wear Market : Global Demand, Growth Analysis & Opportunity Outlook 2023

Published On : 09:40 AM, 14th September, 2017 REP-ID-215 Category: Miscellaneous

Global Women Formal Wear Market Overview

Women formals wear market is one of the fastest growing markets across the globe. It is very difficult for the market key players to hold their roots in women formal segments due to rapidly changing fashion trends in women wearing. The ratio of working class women is rapidly increasing across the globe; it has been notified that women work force is increasing in all sectors such senior official, managers, legislators and others. This will further increase the demand for women formal wear across the globe. In 2014, it is reported that 52% of the global female population were working women.

                                   Women Formal Wear Market Demand & Growth

Market Size & Forecast

Global women formal wear market was value at USD 421 billion in 2014; the market is anticipated to witness a compound annual growth rate of 4.2% over the forecast period i.e. 2016-2023.

In 2015, Europe region marked the largest consumer base of women formal wear market, imminent followed by North America. In 2015, Europe region has projected a revenue share of 30% in the global women formal wear market.

Asia Pacific region is anticipated to expand at a higher compound annual growth rate between 2016 and 2023 due to increasing employment of women in emerging economies such as India and China.

In terms of revenue share, women apparels segment is anticipated to hold the largest segment of the global market, various trending fashions are boosting the sales of women apparels across the globe.

The ratio of women employees have significantly grown in IT and corporate world, a large fraction of employed women are adopting business dressing concepts. This will boost the demand for women formals across the globe. The basic need of clothing along with fashion consciousness and changing lifestyle is propelling the growth of market. In women formal wear market, brand loyalty and brand recognition are the key business strategies adopted by major leading players.

Market Segmentation

By Product

Deep dive market analysis has been carried out on following product segments:-

  • Apparels
  • Footwear
  • Accessories

By Price Range

  • Low Price
  • Medium Price
  • High Price

By Distribution Channel

  • Hypermarket/supermarket
  • Convenience/Departmental Store
  • Specialty Store
  • Online Store
  • Others

By Region

Global women formal wearmarket is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa( GCC, South Africa, North Africa) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers and Challenges

Formal wear market for women in mainly driven by increasing pool of working women in developed and developing countries, this will further boost the demand for women formals in the global market.

Various initiatives by the government to promote women working along with the implementation of various rules and regulations to maintain the gender ratio in all working sectors will further boost the demand for women formal wear across the globe.

Increasing personal disposable income of women along with the improved lifestyle of consumers will incline the consumer interest towards trending fashion; this will further uplift the global market of women formals.

Emerging e-commerce companies has boosted the sales of women formals by launching exciting offers on women formals; consumers find e-commerce as a more convenient way of shopping. Increasing internet penetration will further boost the sales of women formals in upcoming 5-6 years.

Due to unorganized market in the clothing industry, local manufacturers along with their poor quality of products are some of factor anticipated to restrain the market growth over the forecast period i.e. 2016-2023.

Key Players

  • Gap
  • H&M
  • Inditex
  • Kering
  • L Brands
  • Nike
  • PVH
  • Adidas
  • Burberry
  • Hermès
  • Michael Kors
  • Prada
  • Ralph Lauren
  • Uniqlo

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

  • By Product Market Size & Y-O-Y Growth Analysis
  • By Price Range Market Size & Y-O-Y Growth Analysis
  • By Distribution Channel Market Size & Y-O-Y Growth Analysis

By Regions

Global women formal wear market has been studied on countries and regions like:

  • North America (U.S., Canada) Market Size & Y-O-Y Growth Analysis
  • Latin America (Mexico, Brazil, Rest of Latin America) Market Size & Y-O-Y Growth Analysis
  • Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size & Y-O-Y Growth Analysis
  • Asia-Pacific (China, India, Singapore, Japan, Australia & New Zealand & Rest of Asia) Market Size & Y-O-Y Growth Analysis
  • Middle East and North Africa (MENA) Market Size & Y-O-Y Growth Analysis
  • Rest of World  Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

 

                   Key Answers Captured in Report?

Which geography would have better demand for product/services?
What are the strategies adopted by big players in the regional market?
Which country would see the steep rise in CAGR & year-on-year (Y-O-Y) growth?
What is the current & expected market size in next five years?
What is the market feasibility for long term investment?
What opportunity the country would offer for existing and new players in the market?
What is risk involved for suppliers in the geography?
What factors would drive the demand for the product/service in near future?
What is the impact analysis of various factors in the market growth?
What are the recent trends in the regional market and how successful they are?

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