U.S. Cashmere Clothing Market To witness Huge Expansion By 2030

U.S. Cashmere Clothing Market Summary

The U.S. cashmere clothing market was estimated to be worth USD 574.4 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2030. This anticipated growth is largely attributed to the increasing consumer preference for high-quality, soft, and luxurious woolen garments. Products made from fine cashmere, known for their superior softness and elegance, are experiencing rising demand, which in turn is supporting and accelerating market expansion across various consumer demographics.

In 2023, the U.S. held a 20.5% share of the global cashmere clothing market. This substantial market share is driven by the appeal of exclusive and original fashion items among luxury consumers. Cashmere clothing continues to be a favored choice for discerning buyers who appreciate rare and uniquely crafted garments. Known for its limited availability, detailed craftsmanship, and complex production process, cashmere has become synonymous with luxury and sophistication, further enhancing its desirability among high-end fashion shoppers seeking distinct pieces that reflect individuality.

Key Market Trends & Insights

• The sweaters and coats product segment commanded a significant 53.2% share of the U.S. cashmere clothing market in 2023. The immense popularity of cashmere jackets and sweaters stems from the fabric’s exceptional insulating capabilities, combined with its lightweight feel and remarkable softness. These features make cashmere garments ideal for colder climates, providing warmth and comfort without the heaviness often associated with other winter fabrics. As a result, such garments are considered both practical and fashionable, driving continued consumer interest and segment growth.
• Women’s cashmere clothing represented 59.8% of the total market share in 2023. This is primarily due to the growing trend and rising demand for stylish accessories such as cashmere scarves and shawls in the U.S. market. A wide array of manufacturers are introducing new and creative designs, patterns, and color palettes that cater specifically to female consumers. These product innovations are further enhancing the appeal of women’s cashmere wear, thereby contributing to overall market growth and encouraging brand loyalty among fashion-conscious female buyers.
• In terms of distribution channels, offline sales dominated the U.S. cashmere clothing market in 2023 with a 63.0% share. One of the major advantages of offline retail is that it allows customers to physically experience the texture and softness of cashmere garments before purchasing. Unlike online platforms where tactile evaluation is not possible, offline stores offer a sensory buying experience that is crucial when dealing with luxury textiles. This tactile advantage continues to make physical retail an important and preferred channel for premium apparel like cashmere.

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Market Size & Forecast

• 2023 Market Size: USD 574.4 million
• 2030 Projected Market Size: USD 841.8 million
• CAGR (2024 - 2030): 5.6%

Key Companies & Market Share Insights

Leading companies in the cashmere clothing industry are increasingly adopting growth strategies such as regional expansion, strategic collaborations, mergers, and acquisitions to capitalize on the rising product demand and tap into new customer segments. These strategies are aimed at enhancing brand visibility, increasing market penetration, and strengthening product offerings in both domestic and international markets.

In October 2022, Loro Piana S.p.A launched its innovative CashDenim series, blending 60% denim with 40% cashmere to create a unique fabric crafted slowly on traditional looms, combining Japanese craftsmanship with Italian design sensibilities. Also in October 2022, Autumn Cashmere introduced its debut line of luxury cashmere basics for women, offering cardigans and striped sweaters that reflect a balance of elegance and everyday comfort. Similarly, in September 2022, ZEGNA, a renowned Italian luxury fashion house, unveiled its new Oasi Cashmere collection at its flagship boutique in New York. The collection was inspired by landscapes from Piedmont to Mongolia, highlighting the brand’s commitment to soft textures and artisanal weaving traditions.

Key Players

• Loro Piana S.P.A.
• Brunello Cucinelli S.p.A.
• Maison Cashmere
• NAKEDCASHMERE
• SofiaCashmere
• Autumn Cashmere
• TSE Cashmere
• 360CASHMERE
• WHITE + WARREN
• LISA TODD

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Conclusion

The U.S. cashmere clothing market is expected to continue its upward trajectory, fueled by increasing demand for luxurious, finely crafted apparel and evolving consumer preferences for premium materials. The fabric’s unmatched softness, insulation, and exclusivity contribute to its high appeal. As innovation and design continue to evolve, and tactile shopping experiences remain important, offline retail channels will retain strong momentum. Strategic moves by leading brands and continued investments in design and regional presence will further reinforce the market’s growth. With consistent demand across both genders—particularly among women—the cashmere market is well-positioned for sustained success through 2030.