U.S. Cashmere Clothing Market Size, Share & Trends Analysis Report By Product (Sweaters & Coats, Pants & Trousers, Tees & Polo), By End User (Men, Women), By Distribution Channel, And Segment Forecasts, 2024 - 2030

U.S. Cashmere Clothing Market Trends

The U.S. cashmere clothing market size was estimated at USD 574.4 million in 2023 and is expected to grow at a CAGR of 5.6% from 2024 to 2030. The cashmere clothing market is expected to expand due to the rising popularity of products such as fine and ideal woolen clothing, which is driving the demand and supporting market growth.

The U.S. cashmere clothing market accounted for a share of 20.5% of the global cashmere clothing market in 2023. Products that exude exclusivity and originality appeal to luxury buyers. Cashmere clothing is a popular choice for luxury garment buyers who value unique and uncommon pieces. It is renowned for its limited editions, custom designs, and fine craftsmanship. Due to its scarcity and complex manufacturing methods, cashmere is perceived as being exclusive, which makes it a sought-after option for luxury shoppers.

The perceived worth of cashmere apparel is increased due to its link with luxury. Luxury clothing buyers are investing in a way of life, an experience, and a refined statement in addition to buying garments. Because of its remarkable softness and insulating qualities, cashmere is a favourite material for people looking for stylish yet comfortable clothes.

Since ethically and sustainably produced materials are becoming more and more popular among American consumers, cashmere clothing that is ethically obtained from other exporting nations is in high demand among ethical shoppers.

Experts in cashmere production and animal welfare work together with autonomous standardization agencies to establish norms for good grazing practices and herd management. The goal is to create a healthier environment in the United States, better working conditions for farmers, and welfare of cashmere goats. This factor is crucial in promoting the moral manufacture of cashmere apparel for the environmentally and fashion-conscious public.

For instance, the Aid by Trade Foundation (AbTF), a nonprofit committed to improving the welfare of cashmere goats, farmers, farming communities, and the environment, created the Good Cashmere Standard (GCS). U.S. omni-channel retailers are embracing GCS-certified cashmere in order to meet ethical and sustainable requirements and create cashmere apparel with transparent sourcing. For example, J. Crew announced in February 2021 that starting with the Spring 2021 collection, all cashmere sweaters and non-apparel products would be made entirely of cashmere that has been verified by the Good Cashmere Standard. This was the first time American retailers had made a promise of this type.

Market Concentration & Characteristics

Leading manufacturers control a substantial portion of the cashmere clothing market, which is defined by the existence of several well-established global and regional enterprises. Autumn Cashmere, 360CASHMERE, Loro Piana S.P.A., and Brunello Cucinelli SpA are a few of the major companies in the market.

In order to obtain a competitive edge over their rivals, businesses have been putting several strategic initiatives into practice, including product launches, web presence enhancements, and expansions. In order to reach the largest audience, businesses are also attempting to raise brand awareness through a variety of media outlets, the internet, social networking sites, and partnerships with local celebrities.

Companies employ this tactic to extend their product's accessibility across geographical boundaries and expand their market reach. To obtain a competitive advantage over other players, a lot of organizations in the cashmere clothing market concentrate on new product introductions.
In order to strengthen their positions in the market, expand the range of products they sell, and cut expenses, companies in the cashmere apparel industry may get into mergers and acquisitions.

Product Insights

The sweaters and coats product segment accounted for a share of 53.2% in the year 2023. The outstanding insulating qualities, lightweight lightness, and extraordinary softness of cashmere are well-known. Because of these qualities, cashmere jackets and sweaters are very popular, particularly in colder regions where they offer warmth without the bulk that is sometimes associated with other materials.

The tees and polo product type segment is projected to register a CAGR of 7.3% during the forecast period. The segment foresees growth due to the high demand for tees and polo, as they are cheaper as compared to premium coats, jackets, and sweaters.

End user Insights

The women's cashmere clothing market accounted for a market share of 59.8% in 2023. This is mostly because cashmere scarves and shawls are becoming more and more popular in the United States. A number of manufacturers, which will accelerate growth, is introducing innovative patterns and designs. Additionally, businesses are about to release distinctive accessories crafted from this cloth, which is anticipated to promote market expansion.

The men's cashmere clothing market is expected to witness a CAGR of 6.0% during the forecast period. The growth is attributed to the improving standards of living, and increasing demand for cashmere clothing, such as coats and trousers, as fashion apparel.

Distribution Channel Insights

Sales of cashmere clothing through channels accounted for a market share of 63.0% in 2023. Offline channels offer potential buyers the chance to feel the extraordinary quality and softness of cashmere directly, in contrast to internet sales where purchasers are unable to physically touch and feel the material. After feeling the opulent texture of cashmere apparel in person, buyers are more inclined to invest in the material, therefore this sensory experience is quite important in influencing purchase decisions.

Online sales of cashmere clothing are expected to grow at a CAGR of 7.1% during the forecast period. Online shopping's convenience has been a major factor in the expansion of the sector. There's no reason for customers to leave the comforts of their homes to peruse a large selection of cashmere products. Due to its accessibility, a wider range of customers-including those from areas where access to luxury goods may be restricted-have been drawn to the brand.

Key U.S. Cashmere Clothing Company Insights

Key players in the market are focused on the adoption of strategies such as geographic expansion, mergers, and acquisitions, and strategic collaborations owing to increasing product demand and high growth potential.

• In October 2022, Loro Piana S.p.A, launched new cashDenim series. For the CashDenim series, Loro Piana S.P.A, merged Japanese soul with an Italian outlook, manufacturing 60% denim and 40% cashmere blend woven slowly on traditional looms

• 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

• In September 2022, an Italian luxury fashion house, ZEGNA launched its brand new Oasi cashmere collection in the brand’s flagship boutique in New York. The collection has been inspired from Piedmont to Mongolia for the purpose to create softness while weaving the product

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.

U.S. Cashmere Clothing Market Report Scope

U.S. Cashmere Clothing Market Report Segmentation

This report forecasts growth at country level and provides an analysis of the latest industry trends in each of the sub-segment from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the U.S. cashmere clothing market based on product, end user, and distribution channel:

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

  • Sweaters & Coats

  • Pants & Trousers

  • Tees & Polo

  • Others

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

  • Men

  • Women

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

  • Online

  • Offline