Cashmere Clothing Market Size, Share & Trends Analysis Report By Product (Tees & Polo, Sweaters & Coats), By End-user (Men, Women), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2024 - 2030

Cashmere Clothing Market Size & Trends

The global cashmere clothing market size was estimated at USD 2.80 billion in 2023 and is expected to grow at a CAGR of 6.2% from 2024 to 2030. Cashmere clothing has gained significant traction globally, becoming synonymous with luxury, comfort, and style. Derived from the soft fibers of cashmere goats, this exquisite material is known for its exceptional warmth and unparalleled softness. Cashmere clothing has witnessed a steady rise in demand, driven by consumers' increasing preference for high-quality, natural fibers.

In addition, the influence of fashion trends and celebrity endorsements play a role in driving product demand. Celebrities often showcase and promote cashmere clothing, including pants and trousers, increasing consumer interest. The aspirational value associated with these garments further propels the product demand, as consumers seek to emulate the style and sophistication of their favorite influencers. For example, Taylor Swift, Kate Middleton, Emily Ratajkowski, Selena Gomez, and Carrie Underwood are known to own and promote cashmere clothing, contributing to its popularity. In September 2022, Gigi Hadid launched her own direct-to-consumer cashmere line called Guest In Residence, and in January 2023, Brad Pitt co-founded the luxury label God’s True Cashmere. These celebrity endorsements have helped bring attention to cashmere clothing and have influenced consumer interest in the fabric.

The surging demand for cashmere clothing can be attributed to a confluence of factors that resonate with modern consumers. Renowned for its unparalleled softness and luxurious texture, cashmere offers a sensory indulgence that aligns with the contemporary emphasis on comfort and quality. Its natural insulation, providing warmth without bulk, caters to diverse weather conditions, enhancing its appeal as a versatile wardrobe staple.

The durable nature of cashmere, when responsibly sourced, aligns with the growing trend of ethical and sustainable fashion. Fashion influencers and designers alike have embraced cashmere, integrating it into diverse styles, and contributing to its prominence in high-end collections and on social media platforms. The increasing accessibility of cashmere, coupled with rising disposable income, has facilitated its adoption by a wider demographic globally. As consumers prioritize longevity and value in their purchases, the enduring allure of cashmere continues to make it a coveted choice in the evolving landscape of fashion preferences.

Cashmere clothing manufacturers are continuously pushing boundaries and employing various techniques and materials to craft unique and alluring options for consumers. From traditional patterns to more avant-garde designs incorporating diverse textures and styles, the landscape of cashmere clothing is in a constant state of evolution. Younger demographics, known for their adventurous fashion sense and openness to new styles, are drawn to innovative cashmere clothing not only for their refined and intricate designs but also for the sense of exploration and creativity they bring. For instance, in September 2022, UNIQLO, a clothing apparel company, introduced its latest innovation: 3D cashmere knits. These garments, crafted from pure cashmere, showcase the application of WHOLEGARMENT Japanese knitting technology, resulting in seamless apparel. This launch is a strategic response to the escalating demand for high-quality cashmere among women, exemplifying UNIQLO's commitment to meeting evolving consumer preferences.

Collaborations and partnerships with sustainable initiatives or other well-known brands are gaining traction in the market. Such collaborations allow cashmere brands to tap into different consumer segments and create limited-edition collections that often combine style with a purpose, such as supporting social or environmental causes. For instance, in September 2023, Zegna and The Elder Statesman partnered to launch the Oasi Cashmere collection. The two brands combined their expertise with the fabric to create a range of luxury cashmere garments. The collection not only focused on aesthetics but also incorporated new sustainable practices into production, aiming to create fully traceable cashmere garments.

Market Concentration & Characteristics

The degree of innovation in the cashmere clothing industry is notable for its continuous evolution and integration of new technologies and techniques. From traditional craftsmanship to cutting-edge manufacturing processes, the industry embraces innovation in design, sustainability practices, and the exploration of novel blends and applications of cashmere.

The level of mergers and acquisitions (M&A) activities in the cashmere clothing industry is currently moderate. As the technology matures and market demand grows, companies are increasingly exploring strategic partnerships, acquisitions, and collaborations to enhance their capabilities, expand their product offerings, and gain a competitive edge.

Product Insights

The cashmere sweaters & coats market accounted for a revenue share of 51.4% in 2023. Cashmere is renowned for its exceptional softness and luxurious feel against the skin. In sweaters and coats, these qualities contribute to a heightened sense of comfort, making cashmere a sought-after material. Consumers are willing to invest in garments that provide a superior and indulgent wearing experience. In October 2022, Autumn Cashmere introduced its first collection of luxe cashmere basics for women. From solid cardigans to striped sweaters, each piece ensured the perfect balance between femininity and comfort.

The cashmere tees & polo market is anticipated to grow at a CAGR of 7.8% from 2024 to 2030. Cashmere tees and polos offer a unique blend of casual comfort and elevated style. They can be dressed up or down, making them suitable for various occasions and adding a touch of luxury to everyday outfits. This versatility is particularly appealing to modern consumers who value flexibility and self-expression.

End-user Insights

The women’s cashmere clothing market accounted for a revenue share of 58.8% in 2023. Cashmere shawls and scarves have been popular among women across the globe. Numerous players are now introducing unique and innovative designs and patterns, which will further boost market growth. There is also a growing demand for functionality and design when it comes to cashmere clothing for women. Multifunctional wraps, capable of transforming from shawls to scarves, capes, or ponchos, offer a high degree of versatility. Stylish and practical hooded scarves are gaining popularity, providing extra warmth and protection. The integration of hidden pockets into shawls adds an element of convenience and functionality for carrying small essentials.

The men’s cashmere clothing market is anticipated to grow at a CAGR of 6.7% from 2024 to 2030. Cashmere is no longer confined to classic sweaters; innovative designers are experimenting with bolder styles and cuts, creating a wider range of appealing options for men-from cardigans and scarves to trousers and even joggers. This expansion caters to diverse tastes and occasions, making cashmere more versatile and relevant than ever before. In November 2023, United Colors of Benetton launched a premium men's cashmere line in India. The premium cashmere knitwear collection offers 100% Italian cashmere yarn jumpers for men.

Distribution Channel Insights

Sales of cashmere clothing through offline channel accounted for a revenue share of 60.9% in 2023. In physical or offline stores, offer a personalized and immersive shopping experience. Brick-and-mortar stores specializing in cashmere clothing often employ knowledgeable staff who can provide expert advice on care, styling, and the various grades of cashmere available. This level of customer service fosters a sense of trust and confidence, encouraging consumers to make informed purchasing decisions. Moreover, the ability to try on different styles, colors, and sizes in-store allows customers to make choices tailored to their preferences and ensures a better fit, reducing the likelihood of returns. In September 2022, NAADAM inaugurated a new retail establishment in Georgetown, U.S., featuring a diverse range of garments such as sweaters, hoodies, sleepwear, outerwear, and various accessories, all crafted from luxurious cashmere wool.

The online sales of cashmere clothing is anticipated to grow at a CAGR of 7.4% from 2024 to 2030. The convenience offered by online shopping has played a pivotal role in the industry's growth. Consumers can browse a wide range of cashmere products from the comfort of their homes, eliminating the need to visit physical stores. This accessibility has attracted a broader customer base, including those from regions where access to luxury goods might be limited. NakedCashmere provides 100% cashmere clothing directly to consumers. The brand offers a range of cashmere sets and separates, emphasizing the luxurious and soft nature of its products.

Regional Insights

The North America cashmere clothing market accounted for a revenue share of 27.4% in 2023. A growing section of the regional population seeks prestige in their fashionable clothing choices, and cashmere clothing has gained significance in countries like the U.S. Cashmere clothing serves as a status symbol due to the growing popularity of luxury and fashionable clothing. According to the data published in the Japan Times, Ltd. in February 2023, Uniqlo planned to expand its current store footprint in North America by 10%. As part of its expansion strategy, Uniqlo planned to inaugurate six new stores that summer, with four in the U.S. and two in Canada. This initiative aligns with the company's ambition to surpass 200 locations across North America by 2027, aiming to launch between 20 and 30 stores annually to achieve this objective.

U.S. Cashmere Clothing Market Trends

The cashmere clothing market in the U.S. is expected to grow at a CAGR of 5.6% over the forecast period. Consumers in the U.S. increasingly prefer sustainable and ethically produced materials, and cashmere clothing sourced responsibly from other exporting countries aligns with these values, driving its popularity among conscientious consumers.Omni-channel retailers in the U.S. are adopting GCS-certified cashmere to meet sustainability and ethical standards and produce cashmere clothing that has transparency in its sourcing. For instance, in February 2021, J.Crew declared that all cashmere sweaters and non-apparel items in the Spring 2021 collection and beyond would be crafted exclusively from cashmere certified by the Good Cashmere Standard. This marked the inaugural commitment of its kind among U.S. retailers.

Europe Cashmere Clothing Market Trends

The Europe cashmere clothing market accounted for a revenue share of 36.8% in 2023. The Europe market for cashmere knitwear holds significant importance within the textile and clothing industry and is influenced by factors like fashion trends, consumer preferences, and economic dynamics. There has been a growing inclination for sustainable and ethically sourced fashion, propelling the demand for responsibly produced cashmere items. Countries such as the UK, Italy, and Germany play pivotal roles in the regional market. These countries are renowned for their rich textile traditions and unique craftsmanship that are contributors to the production and export of cashmere garments. The rising disposable income and increasing demand from working women for fashionable luxury apparel are key factors boosting the consumption of high-end clothing and footwear across Europe.

The cashmere clothing market in Germany is expected to grow at a CAGR of 4.8% from 2024 to 2030. Germany has a vibrant fashion culture characterized by a diverse range of styles and trends. Cashmere's versatility allows it to cater to various fashion preferences, from classic and timeless designs to more contemporary and trend-focused styles. The adaptability of cashmere to different fashion aesthetics contributes to its growing popularity. The seasonal climate in Germany, with cold winters, fosters a demand for warm and insulating clothing. Cashmere's natural insulation properties make it well-suited for colder temperatures, driving the market as consumers seek both stylish and functional winter wear options.

Asia Pacific Cashmere Clothing Market Trends

The cashmere clothing market in Asia Pacific is expected to grow at a CAGR of 7.7% from 2024 to 2030. Countries such as China, Japan, South Korea, and parts of Southeast Asia have seen increasing demand for cashmere products as incomes rise and consumers seek premium and fashionable items. Luxury brands like Loro Piana, Versace, and Ralph Lauren Corporation, as well as local brands, have been tapping into this demand by offering a variety of cashmere sweaters, coats, scarves, and other accessories tailored to Asian tastes.

In March 2023, Toteme, the rapidly expanding Swedish brand established by online fashion influencer Elin Kling and former art director Karl Lindman, is directing its attention toward expansion in Asia. With a thriving business generating over €100 million and established outlets in Stockholm, New York, and Shanghai, Toteme has inaugurated its inaugural stores in Seoul, South Korea. These outlets, strategically located in the high-end areas of Gangnam, reflect the brand's commitment to increasing its footprint among discerning consumers with a taste for luxury fashion.

Key Cashmere Clothing Company Insights

Loro Piana S.P.A., WHITE + WARREN, Pringle of Scotland Limited., and LISA TODD are some of the dominant players operating in cashmere clothing market.

• Loro Piana offers a range of luxurious garments, including sweaters, scarves, outerwear, and accessories, all known for their unparalleled softness and quality. The brand is synonymous with timeless elegance, combining traditional Italian craftsmanship with a commitment to sustainability.

• Pringle of Scotland Ltd is a fashion brand that manufactures and designs apparel for women and men. The company specializes in cashmere knitwear and has been granted a royal warrant to produce knitted garments.

• LISA TODD distributes its products through boutiques, specialty stores, and department stores across North America, Asia, and Europe.

360Cashmere, TSE Cashmere, and Autumn Cashmere are some of the emerging players.

• The company offers a wide range of cardigans, pants, and sweaters for both men and women. The company sources its cashmere from Alashan in China.

• 360Cashmere products are available through retailers and department stores across the U.S., Europe, and Canada.

• The following are the leading companies in the underground hydrogen storage market. These companies collectively hold the largest market share and dictate industry trends.

Recent Developments

• In January 2024, WHITE + WARREN announced a collaboration with the Metropolitan Museum of Art for the launch of its limited-edition collection. The luxury knitwear brand partnered with the cultural institution to release a 10-piece cashmere capsule for winter. The collection was inspired by two tapestries: "Arms of Greder Family of Solothurn, Switzerland" and "Fragment of a Tapestry or Wall Hanging." The collection also included embroidered cashmere beanies featuring The Met’s vintage Renaissance M logo and White + Warren's travel wrap. The collaboration was available for purchase on WhiteandWarren.com and at The Metropolitan Museum of Art's gift shop

• In October 2023, Loro Piana reopened its flagship store in Dubai after undergoing renovation. The store includes a new concept, providing a luxurious shopping experience. The store spans two floors with a private entrance for VIP clients. The interior design showcases Loro Piana's iconic style, with natural materials, warm colors, and signature wood and marble details. Loro Piana fabrics inspire the store's façade and have been redesigned with terracotta ceramic tiles.

• In February 2023, Pringle of Scotland was announced as the exclusive apparel sponsor of the 2023 Dimension Data Pro-Am, a premier social golf event in South Africa. The event brought together professional golfers, leading entrepreneurs, thought leaders, and executives. The event aimed to elevate women's sports and create more equality. Pringle of Scotland, a subsidiary of FrontierCo, partnered with Dimension Data to enhance the event experience. This partnership with a premier social golf event helped increase Pringle of Scotland's visibility, especially within the affluent demographic attending such events.

Cashmere Clothing Market Report Scope

Global Cashmere Clothing Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global cashmere clothing market report based on product, end-user, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Sweaters & Coats

  • Pants & Trousers

  • Tees & Polo

  • Others

• End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Men

  • Women

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • Spain

    • Italy

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa