Men's Coats And Jackets Market Size, Share & Trends Analysis Report By Fiber (Cotton, Polyester, Cellulosic), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2028

Report Overview

The global men’s coats and jackets market size was estimated at USD 48.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2028. The growing acceptance of corporate culture and the need for protection of the body from changing atmosphere are attributing to the growth of this market. Additionally, the increasing per capita income and buying power are driving forces for the growth of the market. Moreover, the rising adoption of automatic machines by manufacturers increases the production of coats and jackets and reduces the cost associated. The companies are focusing on expanding their customer base by offering discount schemes and reaching them in different ways, such as through e-commerce platforms is expected to accelerate the market growth.

The lockdown announced during the COVID-19 pandemic by governments of various countries had restricted or citizens prefer to stay at home as a precautionary measure. Various exhibitions, sports events, and other public events were canceled across the world by measures arising from COVID-19 restrictions. Moreover, corporate offices are opened with less number of employees while most of the employees are working from home. Due to this, the market experienced a shortfall in the sales of men’s apparel due to disturbed supply chains, restricted production, and reduced demand. Therefore, the market is anticipated to experience slow growth due to this overall shortfall in revenue.

Continuously changing consumer spending habits, digital innovation, and rising urbanization coupled with disposable income are expected to accelerate market growth. Furthermore, constant innovation in coats and jackets trends, magazines dedicated to fashion statements, and celebrity endorsements are anticipated to boost the global market growth. Correspondingly, the rising investment by the key market players in advertising campaigns, promotional activity, and social media marketing is accelerating the market growth during the forecast period.

The coats and jackets for men are outer garments and used for warmth or fashion. Coats and jackets are typically manufactured with long sleeves. Both coats and jackets have collars, lapels, and pockets. The fabric used for coats and jackets is velvet, jacquard, wool, fur, and leather. These products are available in different styles, colors, and designs for multiple usages, which include casual, formal, and cocktail parties. Both coats and jackets are available in long and short lengths, which, in turn, will drive the industry demand.

The increasing demand for premium quality coats and jackets is propelling the market growth. In addition to this, manufacturers are investing in innovations and developing new products and also focusing on the utilization of sustainable raw materials, which is expected to accelerate the market growth during the forecast period. Moreover, the companies are providing a wide range of products with innovative design and advanced features, which, in turn, raises product premiumization along with product line extension, thereby propelling the market growth during the forecast period. 

Distribution Channel Insights

Offline distribution channels contributed to a larger market share of over 80% in 2021. Offline channels include sports stores, distributors, and retail stores. Consumers are preferring offline for purchasing consumer goods, apparel, as well as coats and jackets, and other products where they can physically verify product quality. Additionally, supermarkets, convenience stores, and malls are gaining popularity in recent years owing to the availability of a wide range of men’s apparel under a single roof. Furthermore, increasing urbanization, an increase in the number of workers, and competitive pricing have pushed offline channels to be more popular in developing economies.

The online distribution channel is forecast to register a faster expansion of a 6.5% CAGR from 2022 to 2028. Several manufacturers of these products are offering products on their websites as well as on the e-commerce platforms to enhance product sales. The growing internet penetration rate has observed lucrative growth in the last few years. This has led to the significant growth of the e-commerce sector across the globe, thus propelling the market growth of this segment.

Fiber Insights

The polyester segment dominated the market and contributed the largest revenue share to the global market at around 40.0% in 2021 and is forecast to expand with a CAGR of 4.1% from 2022 to 2028. Polyester is a synthetic type of fiber that contains compounds of the ester functional group. This fiber is obtained from petroleum and is one of the most popular fibers in the textile industry across the globe. This fiber is a durable and relatively more economic material used for manufacturing apparel products. Consumers prefer apparel made from polyester fiber, as it is resistant to many environmental conditions. With all these benefits, polyester is consumed the most for making apparel in the textile industry.

The cellulosic segment is expected to expand with the fastest CAGR of 7.1% from 2022 to 2028. The increasing demand for high-quality appearance of jackets and coats coupled with moisture permeability is expected to accelerate the market growth. The cotton segment is forecast to expand with the second-highest CAGR of 5.4% from 2022 to 2028. Cotton is breathable and absorbent and is mostly used in the textile industry to make the human body warm during cool weather and absorb sweat. Cotton is one of the important preferences of the industry compared to other synthetic and natural fibers, as it does not have side effects on the skin and offers comfort. This contributes to the significant growth rate of the market revenue.

Regional Insights

Europe region is estimated to contribute a market share of around 35% in 2021. This growth is due to the rising demand for men’s apparel like jackets and coats from developed nations, such as the U.K., France, and Germany. A financially independent population, higher per capita income, and changing fashion trends are major factors expected to impact the growth of the market in this region. Moreover, the rising fashion trends usually originate from the European region coupled with the usage of designer coats and jackets are anticipated the market growth. Additionally, continuously changing consumers' lifestyles is accelerating the market growth during the forecast period.

Asia Pacific is forecast to expand with the highest CAGR of 6.5% from 2022 to 2028. The increasing demand for these products in countries, such as China, Japan, Malaysia, and India. With the largest growing working population and increasing disposable income, the region is witnessing huge demand for men’s apparel. Many multinational companies are expanding their manufacturing unit in this region due to low labor costs and easy availability of raw materials, which results in low manufacturing costs. Thus, the region is forecast to expand with the highest CAGR during the forecast period.

Key Companies & Market Share Insights

Vendors are focusing on product launches to meet consumers’ expectations with changing fashion consciousness. Key market players are rising their investments in advertising campaigns, promotional activity, and social media marketing to expand their geographical presence across the globe. For an instance, H&M Hennes & Mauritz AB has announced a new collection ‘Edition’ in collaboration with one of the world’s most inspiring footballers Hector Bellerin. Such initiatives are expected to boost the adoption rate of the products among consumers. The vendors are aggressively following the organic as well as inorganic strategies to expand their footprints across the geography. Some of the prominent players in  the global men’s coats and jackets market include:

• Dior

• H&M Hennes & Mauritz AB

• CHANEL

• Guccio Gucci S.p.A.

• PRADA

• Burberry Group Plc

• Giorgio Armani S.p.A.

• Dolce & Gabbana S.r.l.

• Gianni Versace S.r.l.

• Louis Vuitton, Inc. 

Men’s Coats And Jackets Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global men’s coats and jackets market based on fiber, distribution channel, and region:

• Fiber Outlook (Revenue, USD Million, 2017 - 2028)

  • Cotton

  • Polyester

  • Cellulosic

  • Others

• Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

  • Offline

  • Online

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa