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India western wear market Expected to Reach $6,041.8 Million by 2032—Allied Market Research

 
2022
India western wear market Expected to Reach $6,041.8 Million by 2032—Allied Market

Report Code : A24976

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The India western wear market was valued at $2,586.5 million in 2021, and is expected to reach $6,041.8 million by 2032, registering a CAGR of 7.6% during the forecast period.

Western wear is defined as a category of men and women clothing, consisting of informal or tailored formal garments with western accents. Some of the western wear includes shirts, coats, suits, blazers, trousers, and others. The report focuses on the types of products such as casual and formal clothes.

Growth of disposable income and expansion of apparel e-retailing have led to surge in demand for western wear clothing. Increase in youth population and fashion consciousness among consumers fuels the market growth. Dynamic fashion trends cause a decline in sale of existing clothing; thus, to cope up, clothing brands are focusing on sponsoring fashion events and celebrity wardrobes to set specific fashion trends. Manufacturers collaborate with packaging companies to offer innovative packaging for clothing such as biodegradable barrier tray, which is expected to drive the market growth during the forecast period.

The western wear market in India has witnessed significant growth in recent years, driven by a combination of factors including changes in fashion trends, increase in urbanization, surge in disposable income, and rise in influence of Western culture on Indian society. This article explores the growth and dynamics of the apparel market in Western India, including the challenges and opportunities facing the industry.

Changes in fashion trends among Indian consumers is one of the major drivers of the India western wear market. Suits are gaining popularity with young Indians, who see them to express individuality and modernity. In addition, western clothing has become more accessible and affordable, with a wide variety of products available in the market to suit different budgets and tastes.

Despite the huge growth potential of the India western wear market, the industry also faces many challenges. One of the biggest challenges is the presence of counterfeit products in the market. These counterfeit products are often of poor quality and can be dangerous for consumers. The sale of counterfeit products has caused huge financial losses to legitimate western clothing companies, which are forced to compete with counterfeit products sold at lower prices. This creates an uneven playing field, making it difficult for these companies to grow and expand their businesses.

The western wear market in India still has enormous potential for growth and development. The industry can benefit from the growing popularity of western fashion and the growing demand for these products among young Indians. There are also opportunities for innovation in design, materials, and production processes, which can help reduce costs and improve the quality of western wear products.

Online sales have evolved as a key source of revenue for western wear brands. The online sales market is expected to expand at a high growth rate in the near future, due to rapid increase in online and mobile user customer bases in emerging markets, rise in m-commerce sales, improvement in logistics services, and ease in payment options. The e-commerce market in Asia-Pacific is expected to grow at a steady rate in the future. This presents a major opportunity for the western wear market during the forecast period, fueling the growth of the market.

The formal wear segment is expected to dominate the western wear market during the forecast period. However, casual wear is expected to gain significant attention by consumers belonging to different cultures. Luxury brand awareness and social media trends are anticipated to drive the growth of the western wear market during the forecast period.

E-retail is one of the major factors that propels the growth of the India western wear market, as this channel makes products available to consumers across various regions. Correspondingly, social media platforms provide emerging new fashion trends, thus increasing promotion and product awareness.

The India western wear market is segmented into end user, type, and distribution channel. On the basis of end user, the market is bifurcated into men and women. On the basis of type, the market is classified into casual and formal. Based on distribution channel, the market is divided into online platforms, specialty stores, supermarkets, hypermarkets, and brand outlets.

By end user, the men segment held the major share in the market. The major trends in the men western wear market in India is the popularity of jeans, which is widely worn by men of all ages. The demand for fitted and skinny jeans is increasing, as is the demand for ripped and worn jeans. However, the women segment is expected to grow with the highest CAGR during the forecast period due to fashion preferences among women in India have shifted towards western wear, and this trend is likely to continue. The women's western wear market is highly competitive with several local and international brands vying for the attention of customers.

By type, the formal segment held the major share in the market. In recent years, there is an increase in the trend for formal wear in India. One of the main trends in formal wear is the fusion of traditional Indian elements with Western silhouettes, fabrics, and cuts. However, the casual wear segment is expected to grow with the highest CAGR during the forecast period. Casual wear has become an increasingly popular choice in the Indian western wear market in recent years. Many fashion-conscious consumers are turning to casual wear for everyday wear with more emphasis on comfort and versatility.

By distribution channel, the online platform held the major share in the market in 2021 and is expected to grow at the highest CAGR during the forecast period. The increase in the number of internet users in India, coupled with the ease of online shopping, has made it easier for consumers to purchase Western clothing from the comfort of their homes. As a result, several e-commerce platforms have surged the market demand for western wear from Indian consumers.

Major players operating in the India western wear market are Aditya Birla Fashion and Retail Limited, Chemistry, H&M Hennes & Mauritz AB, Forever21 Inc., Inditex SA, Mango, Shoppers Stop Ltd., Benetton Group, Vero Moda, and Westside.

Key findings of the study

  • By end user, the male segment held the major share in the market and is expected to grow at a CAGR of 7.1% during the forecast period.
  • By type, the casual wear segment is expected to grow with a highest CAGR of 8.3% during the forecast period.
  • The online platforms segment accounted for one-third share of the total market in 2021.
 

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quote India Western Wear Market by End User (Men, Women), Type (Casual, Formal), Distribution Channel (Online Platforms, Specialty Stores, Supermarkets, Hypermarkets, Brand Outlets): India Opportunity Analysis and Industry Forecast, 2023–2032 quote

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