Dublin, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The "Workwear - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. Global Workwear Market to Reach $25.3 Billion by 2030 The global market for Workwear estimated at US$17.2 Billion in the year 2022, is projected to reach a revised size of US$25.3 Billion by 2030, growing at a CAGR of 5% over the analysis period 2022-2030. Apparel, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$19.5 Billion by the end of the analysis period. Growth in the Footwear segment is estimated at 5.7% CAGR for the next 8-year period.
The workwear industry has experienced significant impacts due to the COVID-19 pandemic. The spike in the unemployment rate worldwide in 2020 and 2021 has directly influenced the demand for workwear. The number of unemployed people in millions for the years 2019, 2020, 2021, and 2022 reflects the scale of this impact. Furthermore, the business wear market faced challenges with bankruptcy cases and store closings, redefining workwear trends. Rain Jacket
Workwear, as a segment, encompasses a range of clothing designed for specific occupational needs. To understand the market outlook, it's essential to analyze the competitive landscape. The global key competitors' percentage market share in 2023 and their competitive market presence provides insights into the industry's structure.
Workwear market dynamics also vary by region. The market analysis highlights the unique opportunities and challenges in specific regions. India and China, for example, offer significant growth opportunities due to their large working-age populations and relatively untapped markets.
One noticeable trend is the prominence of casual wear in work settings, which raises concerns regarding the traditional workwear segment's future. Workwear distribution is another aspect to consider, with direct sales dominating over rentals.
Competition in the workwear market is highly fragmented, and recent market activity underscores industry developments and the strategic moves made by world brands. To succeed in this competitive landscape, workwear manufacturers must focus on functionality advancements, as product differentiation is key. However, high entry barriers can pose challenges for new players.
The U.S. Market is Estimated at $4.7 Billion, While China is Forecast to Grow at 8.3% CAGR The Workwear market in the U.S. is estimated at US$4.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$5.5 Billion by the year 2030 trailing a CAGR of 8.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. What`s New?
Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and trademarked research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
COVID-19 Crisis Aids Workwear Evolution to New Sartorial Code Marked by Comfort
Sustainability: A Key Trend in the Future Workwear and Protective Clothing Market
Advanced Materials Enable High-Performance, Eco-Friendly Clothing
Need Grows for Distinct Workwear across Industries
Inclination towards 'Business Casuals' as Workwear among the Millennials Change the Corporate Wear Dynamics
Blurring of Lines between Work, Home, Rest, and Travel for Millennials Drive Demand for Casual Workwear
Global Millennial Population Facts & Figures: Important Opportunity Indicators
Rise in Significance of Functional Workwear Benefits Market Growth
Functional Clothing Gains Prominence Amid the Pandemic
Latest Fabric Technologies Make It Worthwhile to Invest in Modern Workwear
Uniforms for Creative Workspaces: A Novel Workwear Trend
Growth in Working Women Population Boosts Demand for Women's Workwear
Women's Workwear Brands Gain Prominence
Corporate Wear Continues to be a Dynamic Market
Advent of Smart Technologies Fuel Demand for Workwear Wearables
Superior Attributes of FR Workwear over Traditional Workwear Benefit Market Adoption
Workwear for Older and Plus-size Consumers: A Segment with Huge Untapped Potential
Workwear Catches the Fancy of Designers to Emerge as Major Fashion Trend
Increasing Popularity of Organic Workwear Lends Traction to Market Growth
Multi-Functional Workwear Continue to be in Demand in the Oil and Gas Industry
Taking Worker Safety to New Levels
Healthcare and Social Care Industry Witnesses New Trends
As the Hospitality Sector Emerges from the Pandemic, Workwear Gains Important Place as Part of Competitor Strategies
US Revenues Per Available Room (RevPar): 2019 to 2023
Multiple Benefits Drive Demand for Embroidered Workwear
Innovative Boots & Accessible Shirts Add Exciting Dimensions to Construction Workwear
Nanotechnology: A Growing Area of Interest
3D Printing: A Game Changer
Fabrics with Moisture Management, Stretch Fabrics, Organic Fabrics and Anti-Microbial Fabrics
GlenGuard FR by Glen Raven
Carhartt's Full Swing Enhances Outwear Comfort
Innovations in Flame Resistant Workwear
Favorable Demographic and Economic Trends Strengthens Market Prospects
World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
FOCUS ON SELECT PLAYERS(Total 375 Featured)
AIRWAIR Intl. Ltd. - Dr. Martens
Anbu Safety Industrial Co., Ltd. (China)
For more information about this report visit https://www.researchandmarkets.com/r/cjux31
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