LONDON--(BUSINESS WIRE)--Technavio announces the release of its latest report on the men’s coats, jackets, and suits market. The market is segmented by geography (APAC, Europe, MEA, North America, and South America) and distribution channels (offline and online). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Men’s Coats, Jackets, and Suits Market: Key Findings
- Men’s coats, jackets, and suits market value to grow by USD 20.34 billion at over 5% CAGR during 2020-2024
- 43% of market growth to originate from North America during the forecast period
- Based on the distribution channel, the offline segment will offer maximum opportunities for vendors during the forecast period
- Men’s coats, jackets, and suits market is expected to have a negative impact due to the spread of COVID-19
Men’s Coats, Jackets, and Suits Market: Growth Drivers
The adoption of sustainable manufacturing is one of the prime factors driving the growth of the market. Vendors operating in the market are undertaking various initiatives to reduce their footprint. Some vendors are joining several sustainable fashion industry associations to adopt eco-friendly practices to reduce the negative impact caused by the fashion industry on the environment. This trend among vendors is expected to positively influence the market growth during the forecast period.
“The rise in disposable income leading to an increase in the purchasing power of consumers will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Men’s Coats, Jackets, and Suits Market: Major Vendors
Technavio identifies Authentic Brands Group LLC, H & M Hennes & Mauritz AB, HUGO BOSS Group, Industria de Diseño Textil SA, Kering SA, LVMH Moët Hennessy - Louis Vuitton, OTB Group, PVH Corp., Ralph Lauren Corp., and The Gap Inc. as key contributors to the growth of the global men’s coats, jackets, and suits market.
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