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DUBLIN--(BUSINESS WIRE)--Sep 22, 2022--
The "Plus Size Women's Clothing Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global plus size women's clothing market stood at US$ 193.9 Bn in 2021 expanding at a CAGR of 4.3% during the forecast period from 2022 to 2030. The Asia Pacific dominated the market and expected to display a similar trend in the following years.
There is continuous spending on apparel products among consumers across the globe. Within the apparel products, plus size apparels expected to witness the fastest growth during the forecast period. Plus size customers seek options that serve a similar level of luxury as women belonging under other size categories. With the rising demand, retailers focusing on launching plus size clothing.
For instance, in 2018, Walmart launched a new brand - Terra, and Sky for the plus sizes in order to grab more number of customer attention. High street retailers such as River Island, Marks & Spencer, New Look stock an entire options for the plus size women in order to fulfill the demands of the consumers. Such a step of the companies expected to increase the revenue growth of the plus size-clothing category in the following years.
The rising prevalence of obesity and overweight problems is fueling the market growth of plus size women's clothing market. Additionally, increasing body confidence among the plus size women has also increased the demand for such apparels that suit the latest fashion trends. Designers and retailers have noticed an increase in the demand for plus size clothing and thus they focus upon new product launches in order to fulfill the consumer demands and preferences.
However, plus size clothing results to increase in the cost of production and the manufacturers often refrain from manufacturing such clothes. This is mainly due to the fact that plus size apparel is considered a huge risk among the manufacturers as it becomes difficult for the manufacturers to assess regarding the exact customer preferences. Additionally, retailers experience higher investments in larger clothes and lower profit margins.
Plus Size Innerwear Segment Expected to Witness the Fastest Growth During the Forecast Period
The innerwear segment is growing at a rapid rate owing to the rising number of overweight women across the globe. Plus size bras are generating sales opportunities for brands such as Calvin Klein, Hanesbrand, J.C. Penny Co. among others.
There lies a major challenge in offering the plus size innerwear products, as it requires proper fabric, wires, hooks among others in order to suit the women's body. Prominent companies engage upon strategic acquisition merging in order to improve the production methods thus grabbing more customer attention.
For instance, PVH in 2017 acquired online start up True & Co.in order to improve their product portfolio of plus size innerwear segment. According to the research of Hanesbrand, 35% of the women are plus size by the age of 25 and 44% by the age of 33. Therefore, the Company focusses on offering a new range of products under its brands such as Maidenform and Playtex.
25-45 Years, by Age Group Dominated the Market and Expected to Continue Trend in the Future
The age group lying between 25-45 years dominated the market in 2021. Changing eating patterns, and consuming food and drinks of higher calories results in obesity and are more prevalent among the age group lying between 25 years to 45 years. In addition to this, hectic work hours among the women working population results in a lack of physical activity and proper sleep thus increasing the weight of the body.
Manufacturers and designers collaborate among themselves and launch more number of stores offering a wide array of plus size apparel for women. Additionally, to grab more customer attention, different fashion magazines and TV shows included plus size models in their editions. Therefore, with the increasing efforts among the fashion retailers and designers expected to generate a significant amount of revenue in the following years.
Online Channel Expected to Witness the Fastest Growth During the Forecast Period
Hypermarket captured the largest market share by distribution channel in 2021, followed by specialty stores and online channels. The efficient display of products through mannequins with colorful background propels the impulse of buying among the consumers. However, limited product offering of plus size apparel by the brick and mortar retailers has resulted in the shift in preferences towards online purchase.
Online retailers such as Mango, Missguided, Boohoo.com among others enable the customers to explore a wide range of products. Therefore, the convenience factors of the consumers and easy availability of the products expected to increase the growth of the online channel during the forecast period. Trends show that brands are focusing on the expansion of online platforms as part of their strategy to generate more revenue and reduce their maintenance costs.
Asia Pacific Dominated the Market in 2019 and Expected to Display Similar Trend in the Following Years
The Asia Pacific captured the majority of the share of global plus size women's apparel in 2021 and expected to remain dominant in the coming years. The rising number of consumers coupled with the increasing demand for fashionable attire similar to their counterparts is resulting to the overall market growth in the Asia Pacific region
Europe expected to witness the significant growth in the global plus size women's clothing market from 2022 to 2030. Increasing demand for plus size apparels from a millennial, the rising number of obese and overweight population, discretionary spending & living standard, are some of the factors propelling the growth of plus size women's clothing market in the region.
The presence of brands such as River Island, Simply Be etc., coupled with rising distribution channels in counties such as Germany, France, and U.K. also contributing to the growth of plus size women's clothing market in the region.
New Product Launch is one of the Key Strategy of the Companies Operating in the Plus Size Women's Clothing Market
Plus size women's clothing market is characterized by intense competition among the manufacturers. The growth of the market mainly attributed to new product launch, supported by advertisements and promotional events carried out by major manufacturers and designers.
With the rising trend towards fashionable attires, manufacturers are striving to introduce new categories in order to grab more customer attention across the globe. For instance, LOFT, the brand that engages in the manufacture of fashionable female clothing announced the launch of plus size category in its portfolio in 2018 that grabbed significant customer attention.
Some of the major players operating in the field of plus sized women's clothing are
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KEYWORD:
INDUSTRY KEYWORD: WOMEN FASHION CONSUMER OTHER RETAIL RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/22/2022 08:16 AM/DISC: 09/22/2022 08:16 AM
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