Portland,OR, Nov. 19, 2019 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global western wear market was pegged at $71.13 billion in 2016 and is expected to reach $99.42 billion by 2023, registering a CAGR of 4.8% from 2017 to 2023.
Global economic growth, rapid urbanization, and rise in Internet penetration are the major drivers for the growth of the global wester wear market. However, high cost of raw materials hampers the market. On the contrary, growth of Asia-Pacific and LAMEA economies is expected to create lucrative opportunities in the near future.
The global western wear market is divided on the basis of type, distribution channel, end user, and geography. Based on type, the market is divided into casual and formal. The formal segment held the largest share in 2016, contributing more than half of the market. However, the casual segment is projected to register the fastest CAGR of 5.4% during the forecast period.
Download Sample Copy Of Report@ https://www.alliedmarketresearch.com/request-sample/4568
On the basis of distribution channel, the market is bifurcated into online platforms, specialty stores, supermarkets, hypermarkets, and brand outlets. The online platforms segment dominated the market in 2016, accounting for more than one-fourth of the market and is projected to register the fastest CAGR of 6.2% during the forecast period.
Based on end user, the market is divided into men, women, and kids. The women segment held the largest share in 2016, accounting for more than two-fifths of the market and is projected to grow at a CAGR of 5.5% from 2017 to 2023.
Send Me Enquire@ https://www.alliedmarketresearch.com/purchase-enquiry/4568
The global western wear market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is anticipated to register the fastest CAGR of 6.2% during the forecast period. However, the market across Europe held the largest share in 2016, accounting for more than one-third of the market.
The market report provides an in-depth analysis of the major market players such as Chanel S.A. LVMH Moët Hennessy Louis Vuitton SE., Gianni Versace S.p.A., and Hermès International S.A.
About Us:
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free: +1-800-792-5285 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 [email protected] Web: www.alliedmarketresearch.com Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research Follow Us on Twitter: https://twitter.com/marketresearcht
