The global winter wear market is increasing at a CAGR of 5.8 per cent. Favorable trade policies, growing apparel production globally, rise in per capita income, favorable demographics, and shifting consumer preference to branded products are boosting the demand for the winter wear market. Abundant availability of raw materials such as wool, silk, cotton and others for the production of apparels and other textile products is another driver of the winter wear market.
Companies across the globe are focusing on the launch of new products with latest fashion and high quality along with expanding their market presence through establishing new manufacturing facilities as well as sales channels to reach potential customers. Manufacturers have adopted various key differentiation strategies to have a competitive edge with an objective to outperform their competitors. Beside the size of population and per capita spending, other key factors driving the growth of the winter wear market are population density, downstream industry effectiveness, and changing economic policies as well as business legislation.
Among the regions in the winter wear market Europe and North America are estimated to have a substantial value share. In terms of value, Asia Pacific is the most attractive region in the global winter wear market.