Workwear Accessories Market Forecast and CAGR
According to the latest research by Fact.MR, workwear accessories market is expected to grow at a CAGR of little over 4% in the next 10 years.
Workwear including both, clothing and footwear is now being considered as a way of showing professionalism at the workplace. The safety and ergonomics of the workers in the workplace is the prime factor for the adaptation of workwear accessories.
At times it also acts as a protection for different vocations such as in manufacturing or industrial sectors and in building and construction. This is to reduce the risk associated with the day-to-day operations in different types of industries.
These factors are the main drivers of this market. People are showing interest in this type of workwear as a key to professionalism and safety. Due to this, market will witness a rise in the demand in the near future as the government regulation on reducing workplace accidents are getting more stringent.
What is Driving Demand for Workwear Accessories?
People are looking for apparel accessories and footwear that are suitable for their work environment. Many manufacturing companies are demanding these products in the form of safety while performing daily tasks. This is to ensure safety and avoid accidents at the working place.
In the case of different industries, workers are getting exposed to different working conditions such as hot liquids, smoke, and other harmful gases. For these, they need protection to avoid injuries and other mishappenings, so the demand for these accessories is growing constantly with each passing day.
Those working in corporates have adopted the way of showing professionalism by wearing proper formal dresses. To continue with this trend, bulk purchases are being made in the case of men’s and women’s formal apparel.
Nowadays, females are taking up their places in the corporates which is why they too need a formal dress for them. This in turn is generating more demand for the dresses in the market. The aforementioned factors will lead to an increase in sales of workwear accessories.
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Covid-19 Impact on Global Workwear Accessories Market
The impact of covid 19 pandemic has been severe on every industry across the world. Amidst the lockdown, many companies were shut down or downsized due to the heavy losses incurred by them.
Different sectors have been adversely affected by this. In case of the workwear industry, a huge impact was seen during all this time. Many factories and manufacturing units were shut due to the lockdown and people started working from their homes. Due to this, the demand of the workwear and formal dresses dropped drastically.
In the other case, the healthcare sector was determined to work even during the lockdown. The doctors, nurses and other helpers started demanding protection against the exposure to the infected patients. This resulted in rise in the demand of workwear accessories particularly for healthcare end use.
Global Workwear Accessories Market Geographical Outlook
The demand for these accounts for seven prominent regions including North America, Latin America, Europe, East-Asia, South-Asia, Oceania and Middle-East & Africa.
Among these North America has taken over the largest share of more than 40% of the global revenue. Keeping the policies and the rules intact, the government of U.S. and Canada has strictly directed towards the use of workwear accessories for the manufacturing and industrial sectors to ensure a safe working environment. This has made them to expand their operations and to propel the growth of their region.
Next in line is the Asia Pacific region that is growing at a fast pace, including countries like India, Japan and China, where continuous industrialization and urbanization is seen which is making them cover a higher market share. While Middle East & Africa and Latin America holds nominal share of the market but is expected to show promising CAGR during the forecast period.
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Who are the Key Manufacturers of Workwear Accessories Market?
There are different leading manufacturers in this market such as
- Simon Jersey
- Snickers Workwear
- Cherokee Uniforms
- Raymond Ltd
These manufacturers are shifting their focus towards making apparel and footwear that are wind resistant, easily movable, and waterproof. All these attributes are gathering the attention of working people across different industries.
Professionalism and protection are the two main reasons for which the consumers or the industries are attracted to workwear accessories. Hence, it is estimated to uplift the market in the near future as the demand is continuously rising.
Workwear Accessories Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
By Product Type
By Fabric Type
- Food & Beverage
By Distribution Channel
- Direct to Customer
- Third Party Online
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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