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The size of winter wear market in Europe is estimated to grow at a CAGR of 5.17% between 2022 and 2027. The market size is forecast to increase by USD 17.02 billion. The growth of the market depends on several factors, including the rising popularity of digital payment systems, rising demand for premium-quality winter wear, and an increase in online spending and sales.
This winter wear market report in Europe extensively covers market segmentation by end-user (men, women, and children) and product (coats and jackets, sweaters and cardigans, shawls and scarves, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising popularity of digital payment systems is notably driving the market growth, although threats from counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising popularity of digital payment systems is notably driving the Europe winter wear market growth. The wide range of products, online payment options, online tracking, 24/7 customer service, increased internet reach, and cost savings have increased the demand for online shopping among consumers. Online shopping offers multiple payment options including credit cards, cash on delivery (COD), internet banking, and bills of exchange. Additionally, consumers rely on payment service providers that allow them to pay without revealing their card details. The most popular payment method is cash on delivery. In developing countries such as Ireland and Poland, consumers are wary of sharing debit and credit card details online. Therefore, retailers offer cash-on-delivery options to build consumer trust.
Digital payment services allow consumers to make payments at their point of sale using their mobile devices. Transactions can be completed over the phone in just a few steps. Digital payment applications are being used in innovative ways to enhance the consumer experience. The prevalence of digital payment systems in apparel retail, including outdoor apparel, is estimated to boost the growth of the Europe winter wear market during the forecast period.
The increasing focus on R and D and product innovation is a key trend influencing the Europe winter wear market growth. Well-known providers invest heavily in research and development activities to stay ahead of the competition. The vendor focuses on improving product quality and analyzing trends in consumer preferences for apparel, including winter sports apparel. Additionally, certain suppliers are committed to tackling environmental issues such as excessive water consumption, rainforest destruction, marine microfiber dumping, and rising greenhouse gas emissions associated with apparel manufacturing.
Brand strengthens its loyalty and meets changing consumer expectations. With intense competition prevalent, suppliers are investing in research into innovative compositions to differentiate their winter clothing offerings and maintain market share. H and M, Marks and Spencer, and other prominent players develop innovative and cost-effective apparel, including winter apparel, all these factors are expected to boost the market during the forecast period.
Threat from counterfeit products is challenging the Europe winter wear market growth. The market is highly fragmented, with many manufacturers and retailers of winter clothing. Internet and smartphone penetration has increased over the past decade, making it easier for both established and local retailers to sell their products online. E-commerce encourages vendors to sell online by providing a platform that does not require large investments. Online platforms for winter clothing offer a convenient way to shop at competitive prices.
In the European market, e-commerce platforms are being used to sell counterfeit clothing that replicates the original, including winter clothing. There are many unregistered vendors selling counterfeit branded equivalents online. This poses challenges for both established providers and potential consumers. Fake winter clothes look just like the originals, and users can tell the difference only in terms of quality, comfort, and shape retention. You may not be able to distinguish between branded products and counterfeit products. Therefore, the proliferation of counterfeit goods is expected to hinder the growth of the market and damage the image of genuine manufacturers during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Winter Wear Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ASOS Plc: The company offers different types of hoodie jackets for men which can be used in the winter season. It also provides different types of winter wears across the world.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the men segment will be significant during the forecast period. In Europe, the men's winter clothing market has expanded significantly over the past decade. As health and fitness awareness grows, more men are taking part in the outdoors, increasing the demand for winter clothing. As many European countries continue to experience severe winter weather, luxury winter demand for clothes is even higher. With materials such as wool, cotton, and silk gaining prominence over the past decade, the preference for sustainable and eco-friendly winter clothing is expected to grow. There is an increasing demand for technically advanced winter clothing such as gloves.
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The men segment was valued at USD 27.75 billion in 2017 and continued to grow until 2021. The highly competitive European men's winter clothing market has many established players and numerous new entrants. C and A, H and M, and Marks and Spencer, among others, are well-known market players that dominate the market. However, as the demand for eco-friendly and affordable men's winter clothing increases, many new brands are entering the market which will boost the growth of the market during the forecast period.
The winter wear market report in Europe forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio classifies the winter wear market in Europe as part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. The parent market, the global apparel, accessories, and luxury goods market, includes products and companies engaged in the manufacture/marketing of apparel, accessories, and luxury goods. The market also includes companies offering rental services for apparel, accessories, and luxury goods. Technavio calculates the global textiles, apparel, and luxury goods market size based on the total revenue generated by manufacturers/marketers of textiles, apparel, footwear, accessories and luxury goods.
Winter Wear Market Scope in Europe |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.17% |
Market growth 2023-2027 |
USD 17.02 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.61 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ASOS Plc, Benetton Group Srl, BERSHKA BSK ESPANA SA, C and A Mode GmbH and Co KG, Continental Clothing Co., Debenhams Plc, Hennes and Mauritz AB, Industria de Diseno Textil SA, Kering SA, LTP Group AS, LVMH Moet Hennessy Louis Vuitton SE, Manufy, Marks and Spencer Plc, Matalan Retail Ltd., New Look Retailers Ltd., Primark Stores Ltd., PUNTO FA SL, Stradivarius, Joules Ltd., and Next Retail Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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