Mens Coats, Jackets, and Suits Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026

The Men's Coats, Jackets, And Suits Market is projected to grow by USD 2.50 billion with a CAGR of 5.3% during the forecast period 2021 to 2026.

This men's coats, jackets, and suits market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the men's coats, jackets, and suits market segmentation by distribution channel (online and offline) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The men's coats, jackets, and suits market report also offers information on several market vendors, including Authentic Brands Group LLC, Burberry Group Plc, CORNELIANI Spa, Dolce & Gabbana Srl, Ermenegildo Zegna N.V, Etsy Inc., Giorgio Armani S.p.A., Guess Inc, Hennes & Mauritz AB, Hermes International SA, Hugo Boss AG, Industria de Diseno Textil SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, PRADA Group, PVH Corp., Ralph Lauren Corp., The Gap Inc., Tom Ford International LLC, and VALENTINO Spa among others.

What will the Men's Coats, Jackets, And Suits Market Size be During the Forecast Period?

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Men's Coats, Jackets, And Suits Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends and challenges for the global men's coats, jackets, and suits market. During the COVID-19 pandemic, the demand in the men's coats, jackets, and suits market has been impacted significantly, but a holistic analysis of drivers will help in estimating exact demands and refining marketing strategies to gain a competitive advantage.

Key Men's Coats, Jackets, And Suits Market Driver

The increased demand for designer and premium products is one of the key factors driving the global men's coats, jackets, and suits market growth. The competition in the global men's coats, jackets, and suits market has been intensifying over the years. In addition, customer tastes and preferences are evolving rapidly, coupled with the rise in their purchasing power and growth in fashion consciousness. Customers seek premium and luxury products that provide a high level of comfort and durability, which fuels the demand for designer products. Hence, vendors are engaged in progressive design innovations and advances in terms of raw materials. They are also focusing continuously on product R&D to sustain the intense competition in the market. To address the growing demand for designer and premium products, vendors are also focusing on expanding their product portfolios, collaborating with renowned designers, and offering premium products. This is expected to augment the growth of the market during the forecast period.

Key Men's Coats, Jackets, And Suits Market Trend

The increased demand for customized/tailored coats and suits will fuel the global men's coats, jackets, and suits market growth. Customized/tailored men's coats, jackets, and suits are becoming a key trend in the market. With changing lifestyles and evolving customer fashion sense, customers are gradually adopting tailored men's coats, jackets, and suits over readymade men's coats, jackets, and suits. Moreover, due to changing lifestyles and the growing problem of obesity, a large part of the customer base no longer fits into ready-to-wear men's coats, jackets, and suits. This prevents many people from adopting standard-fitting men's coats, jackets, and suits. Therefore, more customers are gradually opting for products that are customized/tailored according to their needs and demand. To address this renewed trend and the growing demand for customized/tailored men's coats, jackets, and suits, market vendors are also offering tailoring services to their customers. For instance, Van Heusen, by PVH, offers MY FIT service to its customers, where anyone can get his coat, jacket, and suit stitched according to his specific needs. Thus, these customized/tailored services will drive the growth of the global men's coats, jackets, and suits market during the forecast period.

Key Men's Coats, Jackets, And Suits Market Challenge

The availability of counterfeit products is the major challenge to the global men's coats, jackets, and suits market growth. The growing market prospects for men's coats, jackets, and suits and their surging demand have attracted the attention and entry of manufacturers of counterfeit men's coats, jackets, and suits into the market, especially in developing regions. Counterfeit products are made of low-quality raw materials and have less durability. The penetration of e-commerce is also facilitating the distribution, sales, and reach of counterfeit products. Sometimes, customers face difficulties in differentiating genuine products from counterfeit ones as they appear similar. Globally, every year, government authorities in various countries seize counterfeit products, including men's coats, jackets, and suits. However, a major benefit for the manufacturers of counterfeit products is that they incur huge savings on production and transportation costs, as they mostly operate in regional or local markets. This makes counterfeit products less expensive than genuine products. Established global vendors in the market are striving to penetrate developing markets, such as India and China, which have a significant presence of counterfeit products. This further proves to be a big challenge for the vendors of men's coats, jackets, and suits across the globe.

This men's coats, jackets, and suits market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global men's coats, jackets and suits market as a part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the men's coats, jackets, and suits market during the forecast period.

Who are the Major Men's Coats, Jackets, And Suits Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Authentic Brands Group LLC
• Burberry Group Plc
• CORNELIANI Spa
• Dolce & Gabbana Srl
• Ermenegildo Zegna N.V
• Etsy Inc.
• Giorgio Armani S.p.A.
• Guess Inc
• Hennes & Mauritz AB
• Hermes International SA
• Hugo Boss AG
• Industria de Diseno Textil SA
• Kering SA
• LVMH Moet Hennessy Louis Vuitton SE
• PRADA Group
• PVH Corp.
• Ralph Lauren Corp.
• The Gap Inc.
• Tom Ford International LLC
• VALENTINO Spa

 

This statistical study of the men's coats, jackets, and suits market encompasses successful business strategies deployed by the key vendors. The men's coats, jackets, and suits market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• gap.com - The company offers men's coats, jackets and suits, such as recycled parkas, hooded utility rain jackets, and sherpa jackets.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report on the men's coats, jackets and suits market contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Men's Coats, Jackets, And Suits Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the men's coats, jackets, and suits market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global apparel, accessories, and luxury goods market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for the Men's Coats, Jackets, And Suits Market?

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43% of the market’s growth will originate from APAC during the forecast period. China, Japan and India are the key markets for men's coats, jackets, and suits market in APAC. Market growth in this region will be faster than the growth of the market in regions.

The increased demand for designer and premium products will facilitate the men's coats, jackets, and suits market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in 2020 hindered the growth of the men's coats, jackets, and suits market in APAC. Owing to these lockdowns and stringent social distancing norms, production in manufacturing industries in APAC was halted. Also, most offline retail stores that sell different products, including apparel such as men's coats, jackets, and suits, were shut down temporarily. Thus, all these factors negatively affected the growth of the men's coats, jackets, and suits market in APAC in 2020. However, in 2021, most countries in the APAC region eased the lockdown restrictions, which led to the resumption of manufacturing activities, thus increasing the production of men's coats, jackets, and suits. Moreover, the growing trend of non-store and online purchasing of men's coats, jackets, and suits for various social events and the increase in disposable income of people are expected to drive the growth of the men's coats, jackets, and suits market in APAC during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the Men's Coats, Jackets, And Suits Market?

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The men's coats, jackets, and suits market share growth in the online segment will be significant during the forecast period. The online distribution channel, also known as the e-commerce channel, is growing at a rate higher than that of the offline distribution channel. Some of the prominent e-commerce players operating in the global men, coats, jackets, and suits market include Amazon.com (Amazon) and eBay Inc. E-commerce platforms offer a wide range of menswear from brands that are vital to the men's coats, jackets, and suits market, thus driving the growth of both branded and private-label menswear vendors. With the growing trend of online retailing, particularly in developing countries, the sales of men's coats, jackets, and suits through this channel are expected to increase significantly during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the men's coats, jackets, and suits market and actionable market insights on the post-COVID-19 impact on each segment.

 

Men's Coats, Jackets, And Suits Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.3%
Market growth 2022-2026	$2.50 billion
Market structure	Fragmented
YoY growth (%)	4.78
Regional analysis	APAC, Europe, North America, South America, and the Middle East and Africa
Performing market contribution	APAC at 43%
Key consumer countries	US, China, Japan, India, and Germany
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Authentic Brands Group LLC, Burberry Group Plc, CORNELIANI Spa, Dolce & Gabbana Srl, Ermenegildo Zegna N.V, Etsy Inc., Giorgio Armani S.p.A., Guess Inc, Hennes & Mauritz AB, Hermes International SA, Hugo Boss AG, Industria de Diseno Textil SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, PRADA Group, PVH Corp., Ralph Lauren Corp., The Gap Inc., Tom Ford International LLC, and VALENTINO Spa
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, and Market condition analysis for the 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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What are the Key Data Covered in this Men's Coats, Jackets, And Suits Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive men's coats, jackets, and suits market growth during the next five years
• Precise estimation of the men's coats, jackets, and suits market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the men's coats, jackets, and suits industry across APAC, Europe, North America, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of men's coats, jackets, and suits market vendors

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