Neckwear Market Foreseen To Increase Exponentially By 2030 Neckwear Industry According to a new

Rahul Nikade

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Neckwear Market Foreseen To Increase Exponentially By 2030

Neckwear Industry

According to a new report by Grand View Research, Inc., the global neckwear market is anticipated to reach a valuation of USD 4.2 billion by 2025. The market is expected to grow at a steady Compound Annual Growth Rate (CAGR) of 2.1% over the forecast period. This growth is primarily fueled by increasing demand for neckwear across both formal and casual occasions. Major manufacturers are placing a strong emphasis on innovation, introducing boutique-branded products that cater to evolving consumer tastes—an approach that is further contributing to the market’s expansion.

The appeal of neckwear, especially neckties, lies in their association with professionalism, authority, confidence, and exclusivity. As a result, their usage in professional settings continues to rise, which in turn is driving market demand. Key consumer groups include media executives, bankers, hospitality professionals, and business school students, all of whom regard neckwear as an essential component of their professional attire.

Manufacturers in the neckwear industry are also actively working to expand their appeal beyond traditional formalwear. To attract a broader consumer base, especially younger demographics, they are offering neckwear designed to complement casual outfits. Innovations in fabric textures, vibrant and playful color palettes, and occasion-specific designs are aimed at engaging millennial consumers. Beyond the traditional silk options, manufacturers are incorporating materials such as microfibers, cotton, and polyester to diversify their product lines and appeal to a wider audience.

Leading brands are continually experimenting with their product offerings and expanding their portfolios to remain competitive. For example, in 2017, Guatemalan fashion brand Korbata launched a unique collection named "Nawales," which was inspired by the Mayan worldview and sacred calendar. The collection reflects elements of nature and energy, blending cultural heritage with contemporary design—a strategy aimed at offering differentiated products in a saturated market.

Among the various product segments, neckties are projected to retain the largest market share over the forecast period. This is largely due to their broad acceptance as a standard part of business attire. Consumers are increasingly purchasing neckties in various designs, colors, and patterns suited for different occasions, reinforcing their position as a wardrobe staple. Meanwhile, the bow tie segment is expected to emerge as the fastest-growing product category, driven by its rising popularity among millennials as a stylish accessory for casual and semi-formal settings.

To strengthen brand loyalty and expand consumer reach, key players in the neckwear market are leveraging strategies such as product innovation, influencer endorsements, and digital marketing. For instance, in 2017, The Tie Bar—a Chicago-based menswear brand—introduced a subscription model for U.S. customers. Through this model, customers receive three new neckties or bow ties at regular intervals of either six months or one year, based on their individual preferences. This initiative is designed to enhance customer retention and provide consistent engagement with the brand.

From a regional perspective, Asia Pacific is expected to dominate the market and register the fastest growth rate during the forecast period. Countries such as China, India, Japan, and South Korea are major contributors to the region’s market expansion. Factors such as a growing population, rising fashion consciousness, and rapid growth in the commercial sector are key drivers of demand in this region.

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Neckwear Market Segments Highlights:

Self-tied neckwear dominated the market by capturing 72.1% share in 2023. As these products are versatile and easy to use, consumers prefer self-tied neckwear products extensively.
Neckties segment held the largest revenue share of 81.1% globally in 2023. The increasing usage of neckwear as part of formal dress code in corporate offices, colleges, hotels are shaping the neckties market.
The offline distribution of neckwear products dominated the market by capturing 78.5% share in 2023.
APAC dominated the global market by capturing 42.3% of revenue in 2023 and is expected to grow at the fastest CAGR of 4.9% over the forecast period.

Neckwear Market Report Segmentation

Grand View Research has segmented global neckwear market report based on product, wearing type, distribution channel, and region:

Neckwear Wearing Type Outlook (Revenue, USD Million, 2020 - 2030)