Women’s Dresses & Skirts Market To Rise At Modest Growth With CAGR And Revenue Till 2028|Grand View Research, Inc.
Posted by Mrudula Karmarkar on September 23rd, 2022
The global women’s dresses & skirts market size was estimated to reach USD 218.50 billion by 2028 and is expected to expand at a CAGR of 5.0% from 2022 to 2028, according to a new report by Grand View Research, Inc. This can be attributed to factors such as the increasing number of working women, continuously changing fashion trends, and increasing purchasing power. Manufacturers are focusing on increasing their customer base by reaching them in different ways such as through e-commerce platforms and offering discount schemes.
Polyester segment contributed the largest revenue share to the global market of more than 45.0% in 2021 and is expected to register a CAGR of 4.5% from 2022 to 2028. Polyester is a synthetic type of fiber, that contains compounds of the ester functional group. This is obtained from petroleum and is one of the most popular in the textile industry. The segment is durable and relatively more economic material used for manufacturing apparel products. Consumers prefer apparel made from polyester, as it is resistant to all types of environmental conditions.
Dresses segment contributed a larger share of more than 70% in 2021 to the global market revenue and is anticipated to exhibit a CAGR of 4.9% from 2022 to 2028. The dresses are the first choice by women to wear traditionally. Dresses vary depending on the season, fashion, and modesty as formal or casual as per individuals’ choice. Thus, the segment contributed more to the market revenue.
Offline distribution channels contributed to a larger market share of more than 75% in 2021. Offline channels include sports stores, distributors, and retail stores. Manufacturers and marketers use the traditional retail channel for more sales. The segment includes organized retail channels which are more customer-oriented and provide better services by selling a variety of apparel directly to the end-users. Additionally, these stores provide a choice of physical verification and trials & facility of products to the end-users and contribute to the market revenue. Thus offline segment contributes more to the market revenue.
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Factors such as the increasing number of working women and increasing purchasing power are attributed to the growth of the market. Moreover, manufacturers are adopting automatic machines to increase production and at the same time taking steps to reduce the cost associated. The product manufacturers are focusing on increasing their customer base by reaching them in different ways such as through e-commerce platforms and offering discount schemes.
Women’s Dresses & Skirts Market Report Highlights
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 a minimum 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.
Growth of the market of women’s dresses and skirts is driven by the increasing demand for the product from the increasing population and changing consumer perception and fashion attitudes in the global market. The population of potential consumers is steadily increasing, significantly contributed by the Asia Pacific. At the same moment, customers in the region are increasingly adopting Western clothing styles driving the demand for women’s dresses and skirts.
The Women’s dresses & skirts market is characterized by the presence of various well-established players and several small and medium players. Vendors are focusing on product launches to meet consumers’ expectations with changing fashion consciousness. Additionally, the manufacturers are trying to innovate new preservative techniques to increase the durability of the product. while expanding their reach across the geography by following organic as well as inorganic strategies. Such initiatives are expected to boost the adoption rate of the products among consumers. Some of the prominent players in the global women’s dresses & skirts market include:
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About the AuthorMrudula Karmarkar
Joined: March 30th, 2020
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