The Global Market for Workwear is Projected to Exceed US$41 Billion by 2024

Growing Prominence of Smart ‘Business Casuals’ as Workwear among the Huge Millennial Working-Age Population Drives Market Growth, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Workwear market. The global market for Workwear is projected to exceed US$41 billion by 2024, driven by casualization of offices, continuous shifts in dress code towards smart business casuals, and a sizeable population of working-age millennials.

Irrespective of the economic performance of a country, workwear is a necessary garment required by employees of any organization for appropriately performing their daily tasks. Workwear primarily comprises General Workwear (including both while collar and blue collar employees); Corporate Workwear (image wear, career wear, and corporate clothing), and Uniforms (public sector employee clothing such as military, fire fighters, and police). Key workwear trends evolving across the world include the growing prominence of the athleisure workwear offering versatility, comfort, durability, and performance; emphasis on fashion and style with manufacturers offering trendier silhouettes and varied colors in workwear; rising focus on women workwear with more comfortable, performance driven, protective, and fitter workwear being designed for women utility and office workers; and expanding e-commerce network with distributors as well as manufacturers increasing their online retail presence owing to massive proliferation of the Internet. With more organizations preferring uniforms for their employees, faster growth is witnessed for workwear uniforms amidst the turbulent times experienced by the ready-to-wear segment and the fluctuating demand patterns of the fashion apparel segment.

Healthy growth is projected for the market in the coming years driven by the huge population base of 20-35 years age group millennials worldwide, the major buyer category for almost all types of workwear. Rising employment of female workforce and young professionals and the transformation of workwear, particularly corporate wear, from conventional business suits to casual corporate wear are expected to offer lucrative opportunities for market expansion. Other important factors promoting market penetration include rising popularity of organic workwear and the growing role of Internet and social media in influencing decision making. In addition, the significant role of safety, comfort and functionality in workwear selection is anticipated to continue driving manufacturers to focus on fabric innovation. Recent workwear innovations poised to benefit market prospects include smart apparel in uniforms, wearable technologies in workwear, and stretch fabrics, organic fabrics, anti-microbial fabrics, and fabrics with moisture management, fire-resistance, stain-free and anti-creasing properties. The workwear market globally is also expected to gain momentum from the expansion of the foodservice industry, steady growth registered by the healthcare and social care sector, and resurgence of the construction industry along with generation of new employment opportunities in these sectors.

As stated by the new market research report on Workwear, Europe represents the largest market worldwide, followed by the United States. High levels of professionalism in the corporate sector and stringent implementation and institution of appropriate and safe dress codes in the industrial and commercial sectors represent key growth drivers in these developed markets. Asia-Pacific represents the fastest growing market with a CAGR of 6.5% over the analysis period led by the region’s emergence as the modern hub of labour. Other factors benefiting growth in the region include the presence of hugely populated Chinese and Indian markets, rural urbanization, urban expansion as well as the perennial desire among women and men to wear functional and stylish attire to work, increased corporate spending on employee well-being, and expanding retail networks.

Key players in the market include Aditya Birla Fashion and Retail Ltd. (ABFRL), Adolphe Lafont - Kwintet France SAS, Alexandra Workwear (Overseas Holdings) Ltd., Alsico NV, Aramark, Carhartt, Inc., Cherokee Uniforms, Inc., Cintas Corporation, Dockers, Duluth Holdings Inc., Fristads Kansas AB, HAVEP, Raymond Limited, Red Wing Shoe Company, Inc., Snickers Workwear, Simon Jersey Limited, The Donna Karan Company LLC, Pacific Brands Workwear Group Pty Ltd., Wolverine World Wide, Inc., Tranemo Textil AB, UniFirst Corporation, V.F. Corporation, and Williamson-Dickie Manufacturing Company, among others.

The research report titled “Workwear: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of current market trends, key growth drivers, mergers, acquisitions, and other strategic industry activities of major companies. The report provides market estimates and projections in dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America. Product segments analyzed in the report include Corporate Wear, General Wear, and Uniforms.

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