The global cashmere clothing market was valued at USD 8.3 billion in 2021 and is expected to expand at a CAGR of 7.2% from 2022 to 2030. Growing awareness regarding the benefits of cashmere clothing such as its luxurious, durable, and light weight nature is bolstering the market growth. Cashmere fabric is softer and warmer than wool, and its light weight makes it possible for the manufacture of clothes with a wide range of designs. In addition, the increasing demand for cashmere clothing from affluent customers is further propelling the demand for the market. Furthermore, the growing trend of athleisure and increasing preference for comfort clothing is expected to drive the demand for the market over the forecast period.

The rising disposable incomes of consumers, especially in developing countries has enabled them to spend more on luxury apparel. This has led to an increase in the demand for cashmere clothing. According to a report by the Organisation of Economic Co-operation and Development (OECD), the aggregate disposable income of the population in China increased from USD 2.8 trillion in 2016 to USD 4.4 trillion in 2019. Furthermore, the growing trend of organic and sustainable fashion is also driving the demand for the market. For instance, in May 2021, Cashmere Boutique launched a new range of eco-friendly cashmere clothing.

The rising number of fashion influencers and celebrities promoting cashmere clothing is also aiding the growth of the market. For instance, in April 2021, the famous singer and model Rihanna posted a picture of her wearing a cashmere sweater on her Instagram profile. In addition, the increasing trend of personalization and customization of clothes is anticipated to fuel the demand for the market. For instance, in November 2021, the US-based cashmere company Naadam launched a new customization platform, allowing customers to design their own cashmere sweaters.

Key market players are focusing on introducing new products to cater to the growing demand of the customers. For instance, in December 2021, the Italian luxury cashmere brand Brunello Cucinelli launched a new collection of cashmere clothing. In addition, the increasing number of collaborations between fashion designers and apparel brands is further driving the market growth. For instance, in August 2021, French fashion house Balmain announced a collaboration with the cashmere brand Loro Piana to launch a collection of knitwear and accessories.

The sweaters segment accounted for the highest share in the cashmere clothing market in 2022. Increasing demand for lightweight, comfortable, and stylish clothing has been driving the demand for cashmere sweaters. Cashmere sweaters are considered a fashion statement, as they come in a variety of styles, colors, and sizes. According to an article published by the Business of Fashion, in October 2019, cashmere sweaters are considered a wardrobe staple for both men and women. Furthermore, the rise in the availability of cashmere sweaters in the market, due to the emergence of several online retail stores, is further augmenting the demand for the product.

The jackets segment is anticipated to expand at the fastest CAGR of 10.2% over the forecast period. Increasing disposable income, changing fashion trends, and rising awareness regarding the benefits of cashmere garments have been driving the demand for cashmere jackets. According to an article published by the Business of Fashion, in January 2019, cashmere jackets are becoming more popular due to their style and comfort. The increasing demand for designer and luxury cashmere jackets is further accelerating the growth of the market.

The specialty stores segment held the largest share of the market in 2022, accounting for a share of 47.8%. Specialty stores are mainly used for the distribution of cashmere clothing products. Cashmere clothing is usually of high quality and expensive, and thus customers prefer to visit specialty stores to purchase these products. Furthermore, specialty stores offer a wide variety of products, enabling customers to make an informed purchase decision. Moreover, customers can also get assistance from store personnel, who help customers select the right product based on their requirements.

The online segment is expected to register the fastest growth rate of 13.2% during the forecast period. The increasing popularity of online shopping has made it easier for customers to purchase cashmere clothing products. Customers can easily compare prices across multiple websites and select the best deal for themselves. Moreover, customers can also avail discounts and offers on their purchases, making them more attractive. Furthermore, the availability of cashmere clothing products on social media platforms has made it easier for customers to purchase the products.

The luxury segment accounted for the largest revenue share of 67.2% in the year 2022. The growing demand for luxury cashmere clothing among affluent and upper-class customers is driving the market for the luxury segment. Cashmere clothing offers a unique combination of luxury and comfort, which attracts high-end customers. Furthermore, the increasing demand for cashmere clothing in the fashion industry is driving the market for luxury cashmere clothing. Also, the rising popularity of cashmere clothing among celebrities and fashion influencers is further increasing the demand.

The mid-range segment is anticipated to expand at the highest CAGR of 8.2% over the forecast period. Increasing disposable income in developing countries has enabled customers to purchase mid-range cashmere clothing. Furthermore, the increasing trend of online shopping for mid-range cashmere clothing has also contributed to the market growth. Additionally, the increasing demand for affordable cashmere clothing from the middle-class population is likely to propel the market in the forecasted period.

Asia Pacific dominated the market and accounted for the largest revenue share of over 55.4% in 2022. This is attributed to the increasing demand for cashmere products from China, India, and other countries in the region. Moreover, the growth of the luxury apparel segment in the region is also driving market growth. For instance, in August 2021, the global luxury brand Gucci launched a collection of cashmere clothing for men in China.

Europe accounted for the second-largest revenue share in the market in 2022. Factors, such as increasing consumer disposable income, the presence of various leading cashmere clothing manufacturers, and rising consumer awareness regarding the health benefits of cashmere clothing are expected to drive the market in the region. For instance, in June 2021, the luxury Italian brand Ermenegildo Zegna launched its collection of cashmere-blend clothing for men.

In this part of the cashmere clothing products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your cashmere clothing products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a cashmere clothing products business comes from sales of cashmere clothing, online sales, and wholesale purchases. Here you will find a list with a description of each of them and other possible sources of profit such as the sale of accessories, fundraising, and special events.

Projecting Expenses

In this section, all the regular expenses related to keeping the cashmere clothing products business running will be described. The list of operating expenses includes wages, rent, maintenance and repairs, utilities, insurance policies, advertising, packaging and shipping, and others.

Some of the key companies operating in the cashmere clothing market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Loro Piana launched a line of cashmere clothing featuring lightweight fabrics.

– In August 2022, Tom Ford International launched a collection of luxury cashmere clothing.

– In October 2022, Ralph Lauren launched the Polo Cashmere collection featuring classic cashmere sweaters and jackets.

Some of the prominent players in the cashmere clothing market include:

– Loro Piana
– Tom Ford International
– Brunello Cucinelli
– Ralph Lauren Corporation
– Pringle of Scotland
– Burberry Group plc
– Escada SE
– Giorgio Armani
– Max Mara Fashion Group
– Hugo Boss AG

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cashmere clothing products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Sweaters
– Coats & Jackets
– Scarves & Shawls
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Major Drivers of the Cashmere Clothing Product Market?
[A]: The global cashmere clothing product market is driven by the increasing demand for luxurious and comfortable clothing, especially in the developed countries. The growing fashion consciousness and the increasing preference for high-end clothing are also contributing to the market growth. The rising disposable income of the population is also driving the growth of the cashmere clothing product market.

[Q]: What are the Major Restraints of the Cashmere Clothing Product Market?
[A]: The high cost of cashmere clothing products is one of the major restraints of the global cashmere clothing product market. The high cost of the raw materials used for making cashmere clothing is also a major factor hampering the growth of the market. Moreover, the lack of skilled workers for producing quality cashmere clothing product is also a major factor restraining the market growth.

[Q]: What is the Regional Outlook of the Cashmere Clothing Product Market?
[A]: Europe is expected to dominate the cashmere clothing product market, due to the increasing demand for high-end clothing in the region. North America is also expected to witness significant growth in the global cashmere clothing product market. Asia Pacific is also expected to experience significant growth during the forecast period.

[Q]: What are the Major Strategies Adopted by Market Players?
[A]: Major players in the global cashmere clothing product market are focusing on increasing their product portfolio to gain a competitive edge. They are also focusing on strategic partnerships and collaborations to expand their market reach. Furthermore, they are also focusing on expanding their production capacity and distribution networks to increase their market share.

[Q]: What are the Key Trends in the Cashmere Clothing Product Market?
[A]: The increasing demand for eco-friendly and sustainable clothing is one of the major trends in the global cashmere clothing product market. The increasing demand for ethical and sustainable fashion is also driving the market growth. Moreover, the increasing trend of customization is also expected to drive the cashmere clothing product market growth.