Global Workwear Market to Reach US$29 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Workwear market. Although tempered by the recent economic recession, the world market for workwear is expected to recover poise and gain momentum in the short to medium term period to reach US$29 billion by the year 2015. Growth in the market is expected to be driven by factors that include revival in the end-use markets such as construction, healthcare and hospitality, increased acceptance of workwear rental services and product innovations.

Workwear: A Global Strategic Business Report

The waxing popularity of workwear in several industry segments across the globe can be attributed to the key benefits that come with providing or wearing such garments. Workwear issued by employers prove beneficial in several ways. The primary benefit that workwear presents to a company is the sense of professionalism that it imparts, both to the employees as well as to the customers and general public. Professionalism creates a favorable impression of the company on the customer’s mind. In addition, employees may consider the workwear as perks over their payment. Moreover, employees in uniforms are considered to be more helpful and trustworthy owing to the sense of belongingness that uniforms generate. Providing a range of benefits to both employers and employees, workwear has evolved remarkably over the years to become one of the most promising businesses.

Against the backdrop of worldwide economic recession that sent majority of industry segments into a grip of uncertainty, the global workwear market too faced difficult times over the last two years. Recession induced cutback strategies in manufacturing units and corporate offices, such as reduction in existing number of employees, reduced intake of new employees, and clamp down on discretionary spends, have ensured that several new orders for workwear were either cancelled or postponed. Fall in employment levels especially had a severe impact on the demand for workwear. The decline in employee intake in construction, manufacturing, mining, and support industries had been the most devastating trend for the industry, as use of workwear is almost a norm in such segments.

However, steady demand from hospitality sector and revival in construction industry are expected to boost future prospects of workwear market in the coming years. The hospitality sector continues to be a safe bet for workwear manufacturers and suppliers, as it guarantees a steady flow of new orders for workwear, given that the garments used by its employees such as chef’s, housekeeping personnel, and other hotel staff, are always exposed to the threat of soiling and wear & tear, and needs immediate replacements. Revival in hospitality sector after the temporary lull in its trade also sounds encouraging to the workwear market, as the trend can lead to increased employee intake and reduced job cuts, which directly increases the demand for workwear. Increasing number of women employees in corporate and casual sectors is also augmenting the market prospects for workwear across the globe. Hospitality and Healthcare sectors especially hire a large number of women employees for their operations, thereby generating a great demand for women’s work apparel.

Although Europe and North America continue to be the largest regional markets for workwear, growth in the short to medium term period is at its robust best in emerging markets of Asia-Pacific, Middle East and Latin America, as stated by the new market research report on workwear. Growth in the Asia-Pacific region primarily stems from developing nations such as China and India, which are not only gaining popularity for being most trusted destination countries for outsourced garment manufacturing operations, but also represents a large underserved market promising excellent sales prospects.

General wear represents the largest product segment, while corporate wear represents the fastest growing segment over the analysis period 2007-2015.

Key players in this marketplace include Adolphe Lafont SA, ALSICO NV, Bragard SA, Carhartt, Inc., Cintas Corporation, Dickies (UK) Limited, DKNY, Dockers, Fristads AB, HaVeP, Hejco Yrkeskläder, Johnson's Apparelmaster Limited, Klopman International S.R.L, Kwintet AB, Simon Jersey Limited, Williamson-Dickie Manufacturing Company, among others.

The report titled “Workwear: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a review of noteworthy market trends, growth drivers and challenges. The report in addition also enumerates recent product introductions, and other strategic industry activities. The report offers demand estimates and projections for workwear in dollar sales (US$ million) for the following product segments Corporate Wear, General Wear and Uniforms by geographic markets such as North America, Japan, Europe, Asia-Pacific, Middle East, and Latin America.

For more details about this market research report, please visit – http://www.strategyr.com/Workwear_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site http://www.StrategyR.com/

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