Global Neckwear Market Insights Forecasts to 2033

• The Global Neckwear Market Size was Valued at USD 3.84 Billion in 2023
• The Market Size is Growing at a CAGR of 4.37% from 2023 to 2033
• The Worldwide Neckwear Market Size is Expected to Reach USD 5.89 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Neckwear Market Size is Anticipated to Exceed USD 5.89 Billion by 2033, Growing at a CAGR of 4.37% from 2023 to 2033.

Market Overview

Neckwear offers the user an exquisite, composed, and professional look, which has led to significant demand from important consumers such as bankers, media professionals, business executives, and students worldwide. Professionals in numerous fields are inclined to incorporate neckwear into their wardrobes since these products convey exclusivity, professionalism, confidence, and authority. The growing popularity of wearing neckwear with casual attire is expected to increase demand. The product has an elegant, prepared, and professional appearance. The neckwear market signifies the industry sector that manufactures, distributes, and sells a wide range of products. Ties, bow ties, scarves, cravats, neckerchiefs, ascots, and other related products are among the accessories available. This industry encompasses neckwear for men, women, and children equally. The market is driving the popularity of sustainable and responsibly produced neckwear materials, such as organic cotton, recycled textiles, and fair trade jewellery, as awareness of sustainability and ethical design practices grows. Additionally, smart marketing campaigns and partnerships between fashion labels and influencers or celebrities raise customer awareness and boost industry growth.

Report Coverage

This research report categorizes the market for the neckwear market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the neckwear market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the neckwear market.

Driving Factors

The growth of the neckwear market is propelled by several key factors. The growing number of fashion-related content, such as office lookbooks with connections to the products featured in the images or media, and other social media posts with workplace outfit ideas, provides individuals with designs or inspiration to build their closets, which in return helps the market growth. The expansion of e-commerce has had an immense effect on the neckwear business. Online shopping platforms make it easy for customers to browse, compare, and buy neckwear from a variety of brands and designers.

Restraining Factors

One of the major difficulties in the neckwear market is the fluctuating environment of fashion trends and styles. Due to fast fashion and rapid trend cycles, neckwear products may have short lifespans.

Market Segmentation

The neckwear market share is classified into wearing type, product, and distribution channel.

• The self-tied segment is dominating the market with the largest revenue share through the forecast period.

Based on the wearing type, the neckwear market is categorized into self-tied and pre tied. Among these, the self-tied segment is dominating the market with the largest revenue share through the forecast period. Self-tied neckwear product is highly preferred by customers due to their versatility and ease of use. Also, these offer a variety of looks because they may be tied using various knot techniques. These utilitarian characteristics are favorably influencing the growth of the industry.

• The neckties segment is expected to hold a significant market share through the forecast period.

Based on the product, the neckwear market is categorized into neckties, bow ties, and others. Among these, the neckties segment is expected to hold a significant market share through the forecast period. The neckties market is being shaped by the growing use of neckwear as part of the formal dress code in hotels, colleges, and corporate offices. Additionally, demand is expected to be high over the anticipated time frame for these products since they are available in a variety of sizes, widths, and designs that fit the newest fashions in clothing.

• The offline segment is estimated to grow at the highest CAGR during the forecast period.

Based on the distribution channel, the neckwear market is categorized into online and offline. Among these, the offline segment is estimated to grow at the highest CAGR during the forecast period. The offline stores continue to be the most popular option since they allow buyers to physically inspect and experience the product. To try on the full ensemble, clients often frequently purchase accessories from the store in addition to the primary clothing.

Regional Segment Analysis of the Neckwear Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the neckwear market over the predicted timeframe.

North America is projected to hold the largest share of the neckwear market over the forecast period. This dominance is due to the popularity in this region, which has increased when celebrities are seen sporting neckwear products at public gatherings. Furthermore, the implementation of dress codes in corporate offices, banks, and formal events has increased demand for neckwear products. The area market is also being enhanced by the growing workforce. In the United States, neckties have long been required clothing for formal events such as weddings.

Asia Pacific is expected to grow at the fastest CAGR growth of the neckwear market during the forecast period. The market's expansion is greatly aided by the large number of working people in nations like China and India. The regional market is anticipated to be further driven by the expanding corporate sector, knowledge of dress codes, and the influence of Western culture. Additionally, the Asia-Pacific region's clothing market, which includes the market for neckwear products, is driven by a large number of educational institutions.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the neckwear market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Brooks Brothers Group
• Giorgio Armani
• Ensign
• Ralph Lauren Corporation
• PVH Corp
• LVMH
• Brackish Brand
• Vineyard Vines
• The Tie Bar
• Turnbull & Asser
• Battistoni
• Versace
• Tea Baker
• Kenneth Cole
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2024, The AHL declared that each of the players and officials are to be required to wear cut-resistant neckwear starting this season. The policy was authorized overwhelmingly by the top feeder league's Board of Governors.

• In June 2024, The Tie Bar entered into the floral craze, and collaborated with the queen of floral designs, Laura Ashley, on a range of neckwear and accessories.

• In May 2024, Huxley & Kent, a Knoxville, Tenn-based designer of long-lasting and relaxing pet toys and accessories, announced its new Halloween, Harvest and New Fall Neckwear Collections.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the neckwear market based on the below-mentioned segments: 

Global Neckwear Market, By Wearing Type

• Self-Tied
• Pre Tied

Global Neckwear Market, By Product

• Neckties
• Bow Ties
• Others

Global Neckwear Market, By Distribution Channel

• Online
• Offline

Global Neckwear Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa