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Suits & Ensembles - Northern Europe

Northern Europe
  • The Suits & Ensembles market in Northern Europe is projected to generate a revenue of US$69.23m in 2024.
  • This market segment is expected to experience an annual growth rate of -1.16% (CAGR 2024-2029).
  • In a global context, India generates the highest revenue in this segment, reaching US$2bn in 2024.
  • When considering the population figures, the per person revenue in Northern Europe's Suits & Ensembles market is estimated to be US$2.04 in 2024.
  • Looking ahead to 2029, the volume of this segment is forecasted to reach 680.7k pieces.
  • However, in 2025.0, a slight decline in volume growth of -3.0% is expected.
  • The average volume per person in Northern Europe's Suits & Ensembles market is projected to be 0.0pieces in 2024.
  • In the Northern European market, Denmark is embracing sustainable fashion with an increasing demand for eco-friendly materials in suits & ensembles.

Definition:

The Suits & Ensembles market includes ensembles that consist of a blazer as well as jackets and trousers that have been made from the same material. They represent the female equivalent to the male suit and are an alternative to dresses and skirts within the area of formal women’s apparel.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit, sustainable apparel share, and sales channels. Online channel distribution refers to the purchase of physical goods in online retail. In other words, the purchase is concluded via the internet – on a desktop PC, tablet, or smartphone. The offline distribution channel covers all purchases in stationary stores made via telesales or mail orders (e.g., print catalogs).

In-Scope

  • Suits
  • Ensembles

Out-Of-Scope

  • Separate blazers and suit trousers

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Mar 2024

Sources: Statista Market Insights, Annual reports of key players, Desk research, Statista Consumer Insights Global

Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

Most recent update: Feb 2023

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Key Players

Most recent update: Mar 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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