Women’s Jerseys, Sweatshirts & Pullovers Market Is Likely To Up Demand At A USD 274.88 Billion By 2028
San Francisco, 21 July 2023: The Report Women's Jerseys, Sweatshirts & Pullovers Market Size, Share & Trends Analysis Report By Fiber (Cotton, Polyester, Cellulosic), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2028
The global women’s jerseys, sweatshirts & pullovers market size is expected to reach USD 274.88 billion by 2028, expanding at a CAGR of 4.9% from 2022 to 2028, according to a new report by Grand View Research, Inc. The industry growth is majorly credited to the increasing global spending on jerseys, sweatshirts, and pullovers. Consumers in Asian countries are significantly contributing to the market growth, on account of rising consumer disposable income and increased spending on apparel. The expansion of the offline as well as online retail sectors is also expected to drive market growth during the forecast period.
The COVID-19 pandemic impacted the global market for women’s jerseys, sweatshirts, and pullovers, slowing the growth in 2020. As the disease spread, various lockdowns and restrictions were imposed by governments across the world. This impacted the overall global product sales. Due to lockdowns and restrictions, the production, trade activities, and bricks & mortar sales plummeted during this period. Moreover, consumers avoided visiting stores as a precautionary measure, declining consumer traffic. However, the market is expected to recover in the coming years and witness healthy growth, owing to the resumption of market activities.
In terms of fiber, the cotton segment accounted for the 2nd largest revenue share of more than 32% in the global market in 2021. This has been predominantly credited to the higher popularity of the fiber in the market, on account of its desirable characteristics. Cotton is breathable, an excellent absorbent, and eco-friendly. It is also soft, lightweight, and has no irritable effects on the skin.
By distribution channel, the offline segment contributed to a larger market share of around 79% in 2021. Offline channels include specialty stores, departmental stores, shopping malls, etc. The higher market revenue of the segment is significantly credited to the rising preference of retailers for offline channels. The majority of the market retailers opt for the offline distribution channel, due to the lack of availability or operability of the online channel. Also, consumer perception and shopping behavior contribute to the higher segment share in the global market.
Asia Pacific is estimated to expand at the highest CAGR of 6.0% from 2022 to 2028. The growth of the regional market is mainly attributed to the increasing product demand driven by the increasing population, mainly in India and China. Moreover, increasing disposable income, rising standards of living, the changing consumer fashion attitude, and increasing adoption of western fashion style are likely to boost the regional market growth. The expansion of the retail sector and penetration of global brands in the region are facilitating the accessibility and availability of these products in the market, propelling the growth during the forecast period.
Access Research Report of Women’s Jerseys, Sweatshirts & Pullovers Market @ https://www.grandviewresearch.com/industry-analysis/womens-jerseys-sweatshirts-pullovers-market-report
Women’s Jerseys, Sweatshirts & Pullovers Market Report Highlights
- Europe accounted for a revenue share of around 34% in 2021 in the global market. This is attributed to the strong presence and distribution network of key players and high product awareness and adoption by regional consumers
- The cellulosic segment is expected to register a CAGR of 4.6% during the forecast period. This is credited to the increasing awareness about the environmental impact caused by the apparel industry, and the rising trend of purchasing sustainable and eco-friendly products
- The online distribution channel is anticipated to witness a CAGR of 6.2% from 2022 to 2028. This growth is facilitated by the increasing product demand from consumers and the growing affordability of smartphones and internet services
Women’s Jerseys, Sweatshirts & Pullovers Market Report Scope
Report Attribute | Details |
Market size value in 2022 | USD 203.05 billion |
Revenue forecast in 2028 | USD 274.88 billion |
Growth Rate | CAGR of 4.9% from 2022 to 2028 |
Base year for estimation | 2021 |
Historical data | 2017 - 2020 |
Forecast period | 2022 - 2028 |
List of Key Players in the Women’s Jerseys, Sweatshirts & Pullovers Market
- Dior
- CHANEL
- Gucci S.p.A.
- PRADA
- Giorgio Armani S.p.A.
- Burberry Group Plc
- Dolce & Gabbana S.r.l.
- Gianni Versace S.r.l.
- Louis Vuitton, Inc.
Access Press Release of Women’s Jerseys, Sweatshirts & Pullovers Market @ https://www.grandviewresearch.com/press-release/global-womens-jerseys-sweatshirts-pullovers-market
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