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Tuesday, 19 April 2022 13:47

Global western wear market to grow at 4.8% CAGR from 2017-2023: Report

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According to a new report by Allied Market Research titled, ‘Western Wear Market by Type, Distribution Channel, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,’ the global western wear market size is expected to grow at 4.8 per cent CAGR from 2017-2023 to reach $99,423 million by 2023.

As per the report, the rise in demand for western wear clothing has been fueled by rising disposable income and the proliferation of fashion e-commerce. It is also being fueled by an increase in the number of young people and a greater awareness of fashion among customers.Manufacturers are working with packaging businesses to develop new garment packaging, such as a biodegradable barrier tray, which is projected to boost market development in the near future.

Currently accounting for approximately one-third share of the total western wear market, Europe is expected to maintain its position during the forecast period. The Asia-Pacific market is likely to driven by developing lifestyle and rise in disposable income of consumers.