Cooling Tower Market Sustainability Practices And Environmental Impact

 The global cooling tower market size was estimated at USD 3.85 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030. Stringent government environmental regulations, coupled with concerns associated with the plumes generated by power generation and chemical industries, are anticipated to drive demand for cooling towers during the projected timeframe. HVAC systems ensure a cool and comfortable environment in large commercial buildings that include office buildings, airports, hospitals, conference centers, hotels, etc. These systems use cooling towers to provide optimal cooling in buildings. A consistent rise in commercial construction projects around the world, along with a gradual increase in HVAC installations, is anticipated to boost market prospects for cooling towers over the coming years.

Construction spending in the power sector in the United States grew from USD 110,610 in December 2022 to USD 111,598 in January 2023; for the manufacturing sector, this number rose from USD 131,894 to USD 139,770 in the same assessment period. The increasing spending on manufacturing and power facilities is expected to boost demand for cooling towers in the country. These devices play a vital role in removing excessive heat generated in such facilities, resulting in safer operations, which is expected to drive the demand for cooling towers in the coming years. Growing investments in the U.S. to boost the industrial sector, advance building firms, and improve the installation of eco-friendly products to minimize pollution are factors poised to propel market growth.

Increasing HVAC investments combined with rising demand for energy-efficient solutions are expected to drive the demand for cooling towers used in HVAC applications. According to industry reports, the HVAC industry in India is scheduled to invest USD 611.6 million in new technologies to boost efficiency. The primary advantages of adopting cooling towers in HVAC applications are low installation cost, ease of operation, energy efficiency, and low maintenance cost.

The governments of the UK and the U.S. have established energy standards that manufacturers must meet. They are expected to reduce the energy required in motor operations by a considerable amount, causing them to design high-efficiency motors rather than standard-efficiency motors. For instance, the National Emission Standards for Hazardous Air Pollutants (NESHAP) establishes standards for chromium compounds discharged into the air by cooling towers during cooling processes. These aforementioned factors are anticipated to drive market demand for open-circuit cooling towers over the forecast period.

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• The global automotive sunroof market size was valued at USD 12.2 billion in 2023 and is projected to grow at a CAGR of 7.6% from 2024 to 2030. With the evolving integration of technology in the automobile sector, smart sunroofs have emerged as a popular trend among customers, mainly among Gen Z.

• The global semiconductor pellicle market size was estimated at USD 1.33 billion in 2023 and is estimated to grow at a CAGR of 7.1% from 2024 to 2030. This growth is attributed to the rising advancements in semiconductor production technology, especially in extreme ultraviolet lithography (EUV).

Cooling Tower Market Segmentation

Grand View Research has segmented the global cooling tower market based on product, material, application, and region:

Cooling Tower Product Outlook (Revenue, USD Million, 2018 - 2030)
• Open circuit
• Closed circuit
• Hybrid

Cooling Tower Material Outlook (Revenue, USD Million, 2018 - 2030)
• FRP
• Steel
• Concrete
• Wood
• HDPE

Cooling Tower Application Outlook (Revenue, USD Million, 2018 - 2030)
• HVAC
• Power Generation
• Oil & Gas
• Industrial

Cooling Tower Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o UK
o France
o Germany
o Italy
o Spain
• Asia Pacific
o China
o India
o Japan
o Australia
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o UAE
o Saudi Arabia

Order a free sample PDF of the Cooling Tower Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• Babcock & Wilcox Enterprises, Inc.
• Baltimore Aircoil Company
• Cenk Endüstri Tesisleri Imalat Ve Taahhüt A.Åž.
• Cooling Tower Systems, Inc.
• Delta Cooling Towers Inc.
• Engie Refrigeration GmbH
• EVAPCO, Inc.
• S.A. Hamon
• Johnson Controls International Plc.
• Kelvion Holdings GmbH
• Liang Chi Industry Co. Ltd.
• Mesan Group
• Paharpur Cooling Towers Ltd.
• SPX Corporation
• Torraval Cooling S.L.

Textile Recycling Market Insights Into Consumer Behavior And Preferences

 The global textile recycling market size was valued at USD 4,632.4 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.2% from 2023 to 2030. The rising environmental concern about textile waste production and growing social awareness about textile recycling is expected to propel the market growth.According to the Environmental Protection Agency (EPA), 5% of landfill space is occupied by textile waste. The U.S. produces an average of 25 billion pounds of textiles yearly or around 82 pounds per citizen. These aforementioned factors are expected to drive the demand for textile recycling over the forecast period. Textile waste recycling provides environmental sustainability. Upcycling is a potential recycling approach that maximizes resource conservation of water, raw materials, and energy and minimizes the environmental impact. Furthermore, textile recycling lessens the environmental effect compared to textile incineration and landfill disposal. By replacing items made from primary resources, resource recovery can result in considerable environmental advantages. All the aforementioned factors are expected to boost the market growth over the forecast period. 

Gather more insights about the market drivers, restrains and growth of the Textile Recycling Market

According to the National Council of Textile Organization of the U.S., the textile industry in the U.S. is one of the largest producers of textile-related products in the world. Moreover, the waste generated from discarded textiles amounts to a large quantity in the U.S. According to the Council for Textile Recycling, the average citizen throws away approximately 70 pounds of textiles annually in the country. These aforementioned factors are expected to propel the demand for textile recycling in the coming years.

Moreover, the increasing population and the consumer rising spending capacity are anticipated to generate textile waste and result in concerns about its management. Several government authorities and private firms are considering textile recycling as one of the solutions for tackling issues related to textile waste management and promoting the adoption of a circular economy in the country. According to the U.S. Environmental Protection Agency Report 2022, the rate of recycling of all textiles in the country was 14.7% in 2018.

In the U.S., various programs and start-ups are gaining momentum, contributing significantly to the increasing rate of textile recycling. American Textile Recycling Services (ATRS) is the donation bin operator, for donation and collection services of clothing, footwear, and household items. ARTS is continuously expanding to the new cities in the country driving the growth of recycling. These aforementioned factors are anticipated to further propel the demand for textile recycling in the U.S. over the projected period.

Clothing and textile waste production are rising continuously as the average life of a particular garment is decreasing. This has a huge impact on the environment due to landfill disposal and incineration process, giving rise to greenhouse gas emissions. According to EPA and SMART, recycling textiles has a major impact on reducing greenhouse gas emissions and acts as a growth driver. Furthermore, developments in recycling techniques and groundbreaking research in the field are anticipated to facilitate the growth of the market. For instance, LIST Technology AG announced a breakthrough in the textile recycling industry and presented a lyocell T-shirt made from 100% recycled material, in February 2022, at the International Conference on Cellulose Fibers.

The U.S. Government has set goals to increase consumer awareness regarding textile recycling. For instance, the government has launched an initiative to achieve zero waste by 2037 under the guidance of the Council of Textile Recycling (CTR). With this initiative, the Council of Textile Recycling (CTR) is focused on post-consumer decision-making and is reaching out to manufacturers, brands, municipalities, retailers, and charities beyond textile recyclers to increase awareness regarding recycling. The aforementioned developments and initiatives are expected to contribute to the growth of the industry in the U.S. in the coming years.

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• The global gold nanoparticles market size was valued at USD 7.57 billion in 2023 and is projected to grow at a CAGR of 10.7% from 2024 to 2030. The increasing use of metal nanoparticles in medicine and dentistry, particularly in target imaging and diagnostics, is driving market growth.

• The global polymer filler market size was valued at USD 57.33 billion in 2023 and is projected to grow at a CAGR of 5.0% from 2024 to 2030. Increasing demand for high strength and lightweight materials in automotive and industrial applications is likely to propel the low-density polymer filler market.

Textile Recycling Market Segmentation

Grand View Research has segmented the global textile recycling market based on material, source, process, and region:

Textile Recycling Material Outlook (Revenue, USD Million, 2018 - 2030)
• Cotton
• Polyester
• Wool
• Polyamide
• Other

Textile Recycling Source Outlook (Revenue, USD Million, 2018 - 2030)
• Apparel Waste
• Home Furnishing Waste
• Automotive Waste
• Other

Textile Recycling Process Outlook (Revenue, USD Million, 2018 - 2030)
• Mechanical
• Chemical

Textile Recycling Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
• Asia Pacific
o China
o India
o Japan
o Australia
• Central & South America
o Brazil
o Argentina
• Middle East & Africa
o Saudi Arabia
o UAE

Order a free sample PDF of the Textile Recycling Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• Worn again technologies
• Lenzing Group
• Birla Cellulose
• BLS Ecotech
• The Woolmark Company
• iinouiio Ltd
• Ecotex Group
• The Boer Group
• Unifi, Inc.
• Textile Recycling International
• Hyosung Group
• Martex Fiber
• RenewCell
• Pistoni S.r.l.
• RE TEXTIL Deutschland GmbH.

Sustainable Practices In The Sportswear Market: The Impact Of Lifestyle Changes

 The global sportswear market size was valued at USD 335.92 billion in 2023 and is expected to grow at a CAGR of 9.9% from 2024 to 2030. The global market is driven by factors such as rising health consciousness, increasing participation in sports and fitness activities, and the growing trend of sports clothes, where athletic clothing is worn in casual settings. Advances in fabric technology, such as moisture-wicking, odor control, and temperature regulation, enhance the functionality and appeal of sportswear. Additionally, the influence of social media and celebrity endorsements has amplified brand visibility and consumer interest. The expansion of e-commerce platforms has made sportswear more accessible, while the emphasis on sustainability and eco-friendly materials resonates with environmentally conscious consumers.

Gather more insights about the market drivers, restrains and growth of the Sportswear Market

The increasing health consciousness among consumers is one of the primary drivers of the global sportswear market. The growing awareness of the importance of maintaining a healthy lifestyle has led to a surge in participation in various physical activities, including running, yoga, gym workouts, and team sports. According to a report by the World Health Organization, the number of people engaging in regular physical activity has risen significantly over the past decade, contributing to the heightened demand for sportswear. This shift towards a healthier lifestyle is not just limited to younger demographics but also includes older adults who are adopting fitness regimes to improve their overall well-being.

The athleisure trend, where athletic apparel is worn in non-athletic settings, has significantly boosted the sportswear market. Athleisure blurs the lines between gym wear and casual wear, making it acceptable to wear sports clothing in everyday activities. This trend is particularly popular among millennials and Gen Z, who prioritize comfort and style. Brands like Nike, Adidas, and Lululemon have capitalized on this trend by launching stylish and versatile sportswear collections that can be worn both in and out of the gym.

Innovations in fabric technology and design have played a crucial role in the growth of the sportswear market. Manufacturers are constantly developing new materials that enhance performance, such as moisture-wicking fabrics, anti-odor treatments, and temperature-regulating textiles. These advancements improve comfort and functionality, making sportswear more appealing to consumers. For instance, Under Armour's HeatGear and ColdGear lines are designed to keep athletes comfortable in extreme temperatures. Similarly, Nike's Dri-FIT technology helps wick sweat away from the body, keeping athletes dry and comfortable during workouts.

The influence of social media and celebrity endorsements cannot be overstated when it comes to driving the sportswear market. Platforms like Instagram, TikTok, and YouTube have become powerful marketing tools for sportswear brands, allowing them to reach a vast audience quickly. Celebrity endorsements and collaborations with influencers have also proven effective in boosting brand visibility and credibility. For example, Adidas' collaboration with Kanye West for the Yeezy line has been immensely successful, attracting both sports enthusiasts and fashion-forward consumers. These endorsements help create buzz and drive consumer interest in sportswear products.

The increasing focus on sustainability and environmental consciousness has influenced consumer preferences in the sportswear market. Consumers are becoming more aware of the environmental impact of their purchases and are seeking eco-friendly alternatives. Sportswear brands are responding to this demand by incorporating sustainable practices into their manufacturing processes and using eco-friendly materials. For instance, Adidas' Parley collection features products made from recycled ocean plastic, while Nike's Move to Zero initiative aims to achieve zero carbon and zero waste across its supply chain. These efforts not only attract environmentally conscious consumers but also enhance brand reputation.

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• The global shooting sports equipment market size was estimated at USD 36.50 billion in 2023, and is projected to grow at a CAGR of 5.8% from 2024 to 2030. The growing demand for shooting sports equipment is driven by a variety of factors and trends that are reshaping the market.

• The global licensed football merchandise market size was estimated at USD 10.79 billion in 2023 and is expected to grow at a CAGR of 5.8% from 2024 to 2030. One of the primary drivers is the growing global popularity of football.

Sportswear Market Segmentation

Grand View Research has segmented the global sportswear market on the basis of product, distribution channel, end-user, and region:

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

Sportswear End-user Outlook (Revenue, USD Million, 2018 - 2030)
• Men
• Women
• Children

Sportswear Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Online
• Offline
o Sporting Goods Retailers
o Supermarkets & Hypermarkets
o Exclusive Brand Outlets
o Others

Sportswear Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o China
o Japan
o India
o Australia & New Zealand
o South Korea
• Central & South America
o Brazil
• Middle East & Africa
o South Africa

Order a free sample PDF of the Sportswear Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• Nike, Inc.
• Adidas AG
• LI-NING Company Limited
• Umbro Ltd.
• Puma SE, Inc.
• Fila, Inc.
• Lululemon Athletica Incorporation
• Under Armour
• Columbia Sportswear Company
• Anta Sports Products Limited, Inc.

Recent Developments

• In June 2024, Reebok introduced its first ever pickleball shoe, the Nano Court. Designed for sports such as pickleball, padel, and tennis, the shoe prioritizes grip, stability, and durability. It features Flexweave Pro uppers, incorporating Reebok’s most resilient Flexweave knit yet, with zoned stability yarns for targeted support. Additionally, the shoe includes ToeTection Guard at the toe box for enhanced durability, along with a 360 Comfort Booty anatomical upper construction for a secure fit.

• In June 2024, Stack Athletics, a leading brand in pickleball-specific performance apparel, unveiled its Summer 2024 performance collection tailored for pickleball enthusiasts. The collection introduces new colors, patterns, and pieces featuring innovative technology, such as the Men's Flowstate Zip Tee, Women's Rush Skirt, and Men's Tourney Short. These garments are designed to regulate body temperature and enhance agility with lightweight fabrics, keeping players swift on the court.

• In February 2024, Puma entered into a long-term partnership with Bundesliga soccer club RB Leipzig, commencing from the 2024/25 season, to provide equipment for all men's, women's, and youth teams. Puma CEO Arne Freundt acknowledged RB Leipzig's rapid rise to prominence, both domestically and internationally. In addition to supplying kits for the teams, Puma has secured various sponsorship, merchandising, and matchday advertising rights at the Red Bull Arena and RB Leipzig Football Academy

Trail Running Shoes Market Dynamics: Understanding The Supply Chain

Trail Running Shoes Industry Overview

The global trail running shoes market size to be valued at USD 8.9 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% during the forecast period. The rising popularity of trail running is projected to drive product demand. The increasing popularity of outdoor sports and recreational activities is anticipated to further support market growth. Rising safety concerns during off-road running have increased the demand for shoes designed specifically for trail running.

Gather more insights about the market drivers, restrains and growth of the Trail Running Shoes Market

Increasing participation in trail running is anticipated to drive the demand for shoes over the forecast period. Growing female participation is also driving the demand for trail shoes. From 2014 to 2017, female participation in running increased from 22% to 34%. According to the American Trail Running Association, the majority of trail runners are in the age group 40 to 59 years, accounting for 53% of all the participants, while the age group of 20 to 39 years accounted for 34% of the participants in 2018. Also, as per the Physical Activity Council, the participation rate in outdoor activities increased from 53.9% in 2013 to 59.2% in 2018. Increasing demand for trail running shoes among participants to maintain safety and reduce the chances of injuries and fatigue is expected to drive the market in the near future.

The growing popularity of trail running events, such as Ultra-Trail du Mont-Blanc (UTMB), is also supporting the market growth. The demand for entry in this event witnessed a 68% rise from 2016 to 2019. In 2019, the event received 26,000 applications from 10,000 places. There are around 4,300 races certified and recognized by the International Trail Running Association (ITRA), and around 10,000 events take place worldwide.

Consumers prefer trail running shoes over regular running shoes owing to the build quality and trail-specific designs. These footwears are beefier to handle the rough and rugged terrain, which reduces the chances of a sprained ankle. The rugged sole offers better traction on muddy and wet trails compared to other types of footwear. Also, the growing trend of ethical consumerism is creating more opportunities for new players in the market. Projects such as Clean Run, a cross-brand open-source platform collaboration to accelerate the development of sustainable trail running shoes, are used in increasing consumer awareness.

The growing trend of ultra-trail running is driving the demand for gadgets, clothing, safety equipment, and footwear required for trail running. Ultra-trail running witnessed an average of 14% year-on-year growth over the past 25 years. The participants belonging to this group are the core consumers of trail running shoes. They prefer this type of footwear to maintain a grip over dirt, mud, gravel, roots, and rock slabs, along with minimizing foot injuries.

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• The global fashion accessories market size was estimated at USD 752.1 billion in 2023 and is expected to grow at a CAGR of 7.9% from 2024 to 2030.One of the primary reasons is the affordability and accessibility of fashion jewelry compared to fine jewelry.

• The global men’s wear market size was estimated at USD 537.31 billion in 2023 and is expected to grow at a CAGR of 4.4% from 2024 to 2030. The market demand and preference for men’s wear are rising due to several significant factors that reflect broader societal and economic changes.

Trail Running Shoes Market Segmentation

Grand View Research has segmented the global trail running shoes market on the basis of type, distribution channel, and region:

Trail Running Shoes Type Outlook (Revenue, USD Million, 2015 - 2025)
• Light Trail Running Shoes
• Rugged Trail Running Shoes
• Off Trail Running Shoes

Trail Running Shoes Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Online
• Offline

Trail Running Shoes Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
o France
• Asia Pacific
o China
o Japan
• Central & South America (CSA)
o Brazil
• Middle East & Africa (MEA)

Order a free sample PDF of the Trail Running Shoes Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• VF Corporation
• New Balance Athletics, Inc.
• Wolverine World Wide Inc.
• Brooks Sports, Inc.
• Adidas AG
• Nike Inc.
• Skechers U.S.A, Inc.
• Asics Group
• Deckers Outdoor Corporation
• Amer Sports

Recent Developments

• In March 2022, New Balance stated that it will expand its green leaf product variety to include some footwear, focusing on high-volume models, including colorways from two of the brand's most popular footwear brands, Fresh Foam 1080v12 and the 574. Polyester and leather are two of New Balance's most high-volume climate-impacting materials, and this program is intended to assist the company's aim of sourcing 100% preferred leather and 50% recycled polyester.

• In March 2022, Wolverine, a 139-year-old boot and clothing brand, has announced a collaboration with 343 Industries, the creators of the popular Halo franchise, to make exclusive boot inspired by the Master Chief.

• In May 2022, ASICS launched the GEL-CUMULUS 24, a flexible running shoe that provides maximum comfort for various distance runners.

Popcorn Market Insights, Consumer Preferences And Demands Report To 2030

 Popcorn Industry Overview

The global popcorn market size was estimated at USD 5.2 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030. The market growth is reliant upon the global consumer trend toward well-being. In addition, the industry is being driven by changing consumer behavior patterns for food and beverage globally. The global popcorn supply chain and distribution channel were disrupted by the coronavirus outbreak, which resulted in the closure and restrictions of convenience stores, and super/hypermarkets. The COVID-19 pandemic caused a significant shift in consumer purchasing priorities.

Gather more insights about the market drivers, restrains and growth of the Popcorn Market

Personal health and sustainable development, once relegated to the category of "niche" interests, are now at the forefront of buyers' minds, especially when it is related to food purchases. Demand for healthy, convenient, and sustainably-produced foods is on the rise, and plant-based proteins are more popular than ever. People are making personal purchasing decisions based on sustainability and are aiming to make more health-conscious shopping decisions due to the pandemic, which has caused a significant shift in consumer expectations. In addition, the demand for popcorn with different flavors is also driving the market.

The global demand for ready-to-eat snacks is increasing, significantly affecting the food and beverage market. Ready-to-eat (RTE) products dominate the industry. An expanding range of exciting new flavors, consistent product development, and innovation attract consumers and are attributable to the increased demand for gourmet flavored RTE popcorn. Sea salt flavor, for instance, is becoming increasingly popular, and PepsiCo, Inc. is capitalizing on this trend with its Smartfood Delight Sea Salt Popcorn. Companies in the RTE popcorn industry are taking steps to increase market share with their attractive product packaging, diverse product portfolio, and promoting products on online platforms.

E-commerce or online retail has made popcorn accessible to consumers across various parts of the world. Due to increased internet usage and customer preference for shopping apps, major market participants are rapidly building e-commerce websites. Along with discounts and unique deals, online brands provide particular benefits to those who join their online community. The demand for microwave popcorn increased during the COVID-19 pandemic due to stay-at-home orders. In addition, as the percentage of households with microwaves has increased, so has the demand for microwaveable popcorn, which is another key factor driving the product demand.

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• The global dried cranberries market size was estimated at USD 1.42 billion in 2023 and is expected to grow at a CAGR of 4.9% from 2024 to 2030. The rising demand and consumption of dried cranberries can be attributed to several interconnected factors and trends.

• The global crab market size was estimated at USD 3.34 billion in 2023 and is expected to grow at a CAGR of 3.4% from 2024 to 2030. Crab is considered a premium seafood product, with its tender meat and delicate flavor making it a popular choice in luxury dining.

Popcorn Market Segmentation

Grand View Research has segmented the global popcorn market based on product, distribution channel, and region:

Popcorn Product Outlook (Revenue, USD Million, 2017 - 2030)
• Ready-To-Eat Popcorn
• Microwave Popcorn

Popcorn Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
• B2B
• B2C
o Supermarkets/Hypermarkets
o Convenience Stores
o Online

Popcorn Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
• Europe
o U.K
o Germany
o France
• Asia Pacific
o China
o India
o Japan
• Central & South America
o Brazil
• Middle East & Africa
o South Africa

Order a free sample PDF of the Popcorn Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• Campbell Soup Company
• PepsiCo Inc.
• Conagra Brands, Inc.
• Weaver Popcorn, Inc.
• Quinn Foods LLC
• The Hershey Company
• Eagle Family Foods Group LLC
• PROPER Snacks
• JOLLY TIME
• Intersnack Group GmbH & Co. KG

Cashmere Clothing Market Insights And Consumer Preferences Report To 2030

Cashmere Clothing Industry Overview

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.

Gather more insights about the market drivers, restrains and growth of the Cashmere Clothing Market

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.

Browse through Grand View Research's Clothing, Footwear & Accessories Industry Research Reports.

• The global costume jewelry market size was valued at USD 29.13 billion in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2030. The industry is fueled by factors such as rising disposable income, increasing fashion awareness, and the growth of fast fashion.

• The global camping tent market size was valued at USD 5.40 billion in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030. The increasing popularity of outdoor activities and extreme sports is a key driver for the market.

Cashmere Clothing Market Segmentation

Grand View Research has segmented the global cashmere clothing market based on product, end-user, distribution channel, and region:

Cashmere Clothing Product Outlook (Revenue, USD Million, 2018 - 2030)
• Sweaters & Coats
• Pants & Trousers
• Tees & Polo
• Others

Cashmere Clothing End-user Outlook (Revenue, USD Million, 2018 - 2030)
• Men
• Women

Cashmere Clothing Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Online
• Offline

Cashmere Clothing Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o Spain
o Italy
o France
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Central & South America
o Brazil
• Middle East & Africa
o South Africa

 

Key Companies profiled:
• Loro Piana S.P.A.
• Brunello Cucinelli S.p.A.
• Pringle of Scotland Ltd
• Autumn Cashmere
• TSE Cashmere
• 360CASHMERE
• REPEAT cashmere
• WHITE + WARREN
• KINROSS CASHMERE
• LISA TODD
• Gobi Cashmere

Key Cashmere Clothing Company Insights

• 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.

• 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.

Order a free sample PDF of the Cashmere Clothing Market Intelligence Study, published by Grand View Research.

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.

Global Wall Art Market Regional Trends And Cultural Influences

 Wall Art Industry Overview

The global wall art market size was USD 53.05 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. The growth of the market is primarily driven by rising demand for ready-to-install home décor products, increasing penetration for e-commerce sales, and rising growth of residential construction across the globe. Consumer preferences play a pivotal role in shaping market dynamics, as shifts in tastes and preferences can have a profound impact on product demand. Within of interior design industry, wall art holds a vital position, and fluctuations in interior design trends can significantly influence the demand for various categories of wall art. Understanding and adapting to evolving consumer preferences becomes imperative for businesses operating in the wall art industry, as it enables them to effectively respond to market demands and maintain a competitive edge.

Gather more insights about the market drivers, restrains and growth of the Wall Art Market

Additionally, a shift towards minimalism may lead to a greater demand for simplistic and understated wall art pieces. According to an online survey conducted by Rentcafe in September 2022, 59% of consumers prefer to have a clean and minimal look for their house increasing the adaption of the minimalist trend in the wall art industry. Businesses in the wall art industry should consider incorporating minimalist designs into their product offerings to meet the demand of consumers seeking a minimalist aesthetic. This can involve exploring minimalistic techniques, and materials, and collaborating with artists who specialize in this style. Keeping up with trends and evolving consumer preferences is essential for businesses to remain competitive in the dynamic market.

Consumers these days are looking for a wide range of products that enable them to personalize their spaces. In addition, the pandemic has increased the focus on home remodeling and repairs thereby boosting the sales of wall art products. The rapid growth of the real estate sector, coupled with a rise in residential and personal spaces including apartments, and houses among others, is making constructive addition to the market growth. The increasing Do it Yourself (DIY) trend in home improvement projects, induced mainly by the covid-19 induced lockdown, has also driven the demand for wall art. Furthermore, several companies have been promoting their products over social media platforms like Instagram and Pinterest, gathering increased traction from DIY enthusiasts all over the world.

According to a recent American Housing Survey from the U.S. Census Bureau in 2022, homeowners completed nearly 53 million DIY projects, which accounted for 39% of all home improvement projects and 20% of total spending during the survey period. This highlights the significant role that DIY projects play in the home improvement industry and underscores the importance of targeting DIY enthusiasts as a key demographic for key players operating in this space. By understanding the motivations and preferences of DIY homeowners, companies can tailor their product offerings and marketing strategies to better meet the needs and expectations of this important segment of the market.

The influx of artisans into the wall art market is creating a more diverse range of styles and techniques for consumers to choose from, thereby expanding the available options in the industry. Artisans' specialization in creating personalized and unique wall art products, such as customized paintings and handcrafted hangings, can cater to consumers' desire for individualized decor that reflects their tastes. This trend provides a competitive edge for businesses by offering a more tailored product line that differentiates them from their competitors and increases consumer interest and engagement.

Consumers are increasingly aware of the impact of their purchasing decisions on the environment and are seeking out products that are made from sustainable materials and have a minimal environmental impact. Many key players are incorporating sustainable materials into their products, such as bamboo, organic cotton, and natural fibers, to reduce their environmental impact. For instance, IKEA offers a variety of wall art products made from sustainable materials such as bamboo and recycled materials. They also have a "Better Cotton Initiative" that promotes sustainable cotton production methods. This is expected to boost sales in the coming years.

Browse through Grand View Research's Homecare & Décor Industry Research Reports.

• The global SAVE tourism market size was valued at USD 2.82 billion in 2023 and is projected to grow at a CAGR of 11.1% from 2024 to 2030. The SAVE tourism market, an acronym for Scientific, Academic, Volunteer, and Educational tourism, represents a significant niche within the broader sustainable tourism sector.

• The global kitchen storage and pantry organization products market size was valued at USD 131.43 billion in 2023 and is expected to grow at a CAGR of 4.8% from 2024 to 2030. The market is experiencing significant growth, driven by increasing consumer focus on maximizing kitchen space and improving functionality.

Wall Art Market Segmentation

Grand View Research has segmented the globalwall art market on the basis of type, sales channel, application, and region:

Wall Art Type Outlook (Revenue, USD Billion, 2017 - 2030)
• Wallpapers/Stickers/Wall Coverings
• Hangings
• Frameworks
• Décor Shelves
• Others

Wall Art Sales Channel Outlook (Revenue, USD Billion, 2017 - 2030)
• Offline
o Hypermarkets and Supermarkets
o Specialty Stores
o Others
• Online

Wall Art Application Outlook (Revenue, USD Billion, 2017 - 2030)
• Residential
• Commercial

Wall Art Regional Outlook (Revenue, USD Billion, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
o Japan
• Central & South America
o Brazil
• Middle East & Africa
o South Africa

Order a free sample PDF of the Wall Art Market Intelligence Study, published by Grand View Research.

Key Companies profiled:
• VGL Group
• Art.com Inc.
• Uprise Art LLC
• Saatchi Art Limited
• Society6 LLC
• Minted LLC
• Artsy Inc
• 1stdibs.com Inc.
• Artnet Worldwide Corporation
• Artspace LLC
Key Wall Art Company Insights

• In April 2023, Uprise Art is organizing an exhibition called Universe, Understood in New York, Evi O. and David Esquivel are the artists whose collections will be showcased. In this two-person show, the artists aim to delve into personal narratives and symbolism through their artwork by employing vivid abstraction, poetic expression, and a touch of humor.

• In March 2023, Saatchi Art partnered with SuperRare, a curated NFT marketplace, to release a collection of 10 unique digital artworks by artists worldwide. The collection, titled "Moments Past: Web3 & Memory," features 1/1 NFTs, exclusively on the SuperRare platform via Saatchi Art.