Hoodies and Sweatshirts Market to Hit $37.89 Billion by 2029 : Cognitive Market Research

As per Cognitive Market Research analysis, Hoodies and Sweatshirts market size is projected to grow from USD 28.14 billion in the year 2022 to USD 37.89 billion by 2029 at a CAGR of 2.25% from 2022-2029.
Sweatshirts are referred to as typically pullover, collar-less garments while hoodies are referred to as sweatshirts with a hood attached to them. These clothing are intended as warm sportswear garments for athletes and for outdoor activities including workouts, hiking, running, and walking the dog among others. As sweatshirts offer warmth, comfort, and fashionable looks, it is now often used as casual garments during the colder months.

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Market Dynamics:
• Swelling popularity of hoodies and sweatshirts as an athleisure
- Athleisure is among the fastest-growing clothing category as they are stylish, fashionable, attractive, and most importantly comfortable. Athleisure clothing can be worn for doing a workout or to create a classic streetwear look. With the increasing number of fitness and outdoor activities enthusiasts across the globe, results in increasing demand for athleisure. Increasingly adoption of hoodies and sweatshirts as part of the daily casual wardrobe is driving the growth of the market.

• The increasing influence of social media on fashion trends among millennials and Gen Z
- Mounting craze and sense of fashion among people especially among millennials and Gen Z is been reported. Further, the impression of celebrity lifestyle and fashion influencers on social media platforms also offers significant exposure to fashion trends. Thus, with increasing social media platforms, the popularity of hoodies and sweatshirts among millennials and Gen Z is also increasingly driving its market growth.
The estimated data from National Merchants Association states that 80% of Gen Z and 74% of millennials are influenced by social media when it comes to purchasing.

• The focus of the business is on the development of sustainable products and on an omnichannel distribution strategy
- With the increasing concern for the environment among the population, people often support and have the desire to purchase products that are more sustainable and environmentally friendly. Thus, manufacturers are focusing on developing hoodies and sweatshirts made from eco materials. Further, the manufacturer is also concentrating on increasing their customer reach through expanding omnichannel distribution. Thus, more people get exposure to hoodies and sweatshirt products driving its market growth.

Regional Analysis of Hoodies and Sweatshirts Market:
• North America has the highest market share in the hoodies and sweatshirts market
- Based on region, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle east, and Africa. North America is anticipated to show the highest market share followed by Europe. A significant number of the active population, high purchasing power, and dynamically changing fashion, and apparel trends are among the prime factors contributing to the growth of the market. However, the rising disposable income, evolving fashion trends, and the emergence of western culture in the Asia Pacific region are expected to create lucrative market opportunities for the hoodies and sweatshirts market

Top players involved in the Hoodies and Sweatshirts market:
- Detailed analysis of major market players including
• Chanel
• Dior
• Adidas
• Nike
• H & M Hennes & Mauritz AB
• Prada
• Carhartt
• Dolce and Gabbana
• Calvin Klein
• Gucci etc.

Current Trends of Manufacturers:
• September 2022
- H&M Launches Online Shopping in Israel
H&M has announced the launch of H&M´s online store in Israel. Customers in Israel will have access to the entire range of contemporary fashion items for men, women, teenagers, and children. Now H&M offers online shopping in 58 markets.

Segment Analysis:
- The hoodies and sweatshirts market report is segmented on the basis of the fabric, end user, distribution channel, and region.
• Cotton and fleece fabric are in tight race
- Based on fabric, the market is fragmented into cotton, wool, fleece fabric, and others. Cotton fabric is estimated to have the highest market share; however, fleece fabric is giving tuff competition to cotton in terms of adoption. Cotton is a natural, breathable material that is soft, durable, and are also relatively inexpensive. Moreover, with the increasing focus on the development of sustainable products, natural materials such as organic cotton and hemp are among the popular choice of material for a wide range of clothing items, including hoodies and sweatshirts.
On the other hand, fleece fabric is mostly used for activewear, outdoor activities, and layering during cold weather. Fleece is a soft, warm, and lightweight material that provides insulation and moisture-wicking properties. It is breathable, and fast-drying material that makes fleece hoodies and sweatshirts a common choice for sportswear and winter clothes.

• Women are expected to overcome men in the forecasted period
- On the basis of the end user, the market is segmented as men, women, and kids. Men tend to be more active when it comes to physical and outdoor activities compared to women. Thus, men are the prime target customers for the hoodies and sweatshirts market. However, with the emergence of hoodies and sweatshirts as casual wear, women are increasingly taking interest in products. Further, their comfort and fashionable style look is the cherry on the cake. Thus, companies are also focusing on untapped women customers along with men and kids. Thus, the women segment is expected to show significant growth in the forecast period.

• An online distribution channel is expected to grow with a higher CAGR
- Based on distribution channels, the market is fragmented into online distribution channels and offline distribution channels. The offline distribution channel holds the highest market share. However, emerging online platforms, and increasing user preference for online distribution channel is mounting. Thus, businesses are also concentrating on creating and expanding online distribution channels which are expected to accelerate the growth of online distribution channels in the coming years.

Related Report:
• Sports Apparel Market - https://www.cognitivemarketresearch.com/sports-apparel-market-report
• Yoga Clothing Market - https://www.cognitivemarketresearch.com/yoga-clothing-market-report
• Water Sports Gear Market - https://www.cognitivemarketresearch.com/water-sports-gear-market-report
• Snow Sports Gear and Apparel - https://www.cognitivemarketresearch.com/snow-sports-gear-and-apparel-market-report

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