Hoodies & Sweatshirt Market Size, Share, Analysis, Trends, Growth, 2032

Hoodies & Sweatshirt Industry Prospective:

The global hoodies & sweatshirt market size was evaluated at $19 billion in 2023 and is slated to hit $28 billion by the end of 2032 with a CAGR of nearly 6% between 2024 and 2032.

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Hoodies & Sweatshirt Market: Overview

Hoodies & sweatshirts are winter wear fabrics and individuals from all age groups and genders wear them. Moreover, hoodies are protective fabrics that offer protection to individuals against cold winters along with offering comfort to the body. In contrast to this, a sweatshirt is thin and maintains the circulation of blood & body temperature along with aiding the athletic activities of an individual.  

Key Insights

• As per the analysis shared by our research analyst, the global hoodies & sweatshirt market is projected to expand annually at the annual growth rate of around 6% over the forecast timespan (2024-2032)
• In terms of revenue, the global hoodies & sweatshirt market size was evaluated at nearly $19 billion in 2023 and is expected to reach $28 billion by 2032.
• The global hoodies & sweatshirt market is anticipated to grow rapidly over the forecast timeline owing to a rise in online retail activities along with the flourishing e-commerce sector.
• In terms of material type, the fleece segment is slated to register the highest CAGR over the forecast period.
• Based on end-use, the men segment is predicted to contribute majorly towards the global industry profits in the upcoming years.
• Region-wise, the Asia-Pacific hoodies & sweatshirt industry is projected to register the fastest CAGR during the projected timespan.

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Hoodies & Sweatshirt Market: Growth Factors

Popularity of digital shopping to embellish the growth of the market globally over 2024-2032

Growing trend among the young for fashionable winter wear is likely to boost the growth of the global hoodies & sweatshirt market. A rise in online retail activities along with the flourishing e-commerce sector will drive global market trends. Convenience of home delivery and online comparison of prices have provided an impetus to online shopping, thereby prompting the global market expansion. Constant upgrading of fabric’s printed designs and fabric quality in order to gain a competitive advantage will spearhead the growth of the market across the globe. Endorsements of hoodies and sweatshirts by celebrities will prop up the expansion of the market globally. New product launches and strategic partnerships will bolster the growth of the market globally.

Hoodies & Sweatshirt Market: Restraints

Low availability of raw materials can decimate the growth of the global industry in the upcoming years

A surge in the costs of raw components and seasonal product demand can decline the growth of the hoodies & sweatshirt industry globally. Apart from this, supply chain disruptions and changing climatic conditions can prove to be detrimental aspect in the growth of the industry across the globe.

Hoodies & Sweatshirt Market: Opportunities

Huge sales of the product can open new growth avenues for the global market

Massive demand for personalized hoodies & sweatshirts as per the changing styles and brands will open new growth avenues for the global hoodies & sweatshirt market. Moreover, a rise in the focus of individuals on improving their personal appearance to feel confident along with a need for improving looks will spike the growth of the market globally.

Hoodies & Sweatshirt Market: Challenges

Easy access to duplicate items can challenge the expansion of the industry globally over the assessment period

Easy availability of counterfeit products at reduced costs and lack of strict government guidelines for controlling such activities can prove to be a huge challenge for the expansion of the global hoodies & sweatshirt industry. Changes in the leadership witnessed in various countries of Europe and North America can slow down the growth of the industry globally.

Hoodies & Sweatshirt Market: Segmentation

The global hoodies & sweatshirt market is divided into material type, end-use, and region.                                          

In terms of material type, the hoodies & sweatshirt market across the globe is bifurcated into leather, cotton, fleece, and wool segments. Additionally, the fleece segment, which gained approximately two-fifths of the global market revenue in 2023, is expected to record the highest CAGR in the forecast timespan. The expansion of the segment in the next eight years can be owing to insulating cloth material made of polyester is utilized for trapping heat generated by humans to protect the body from cold climatic conditions.

Based on the end-use, the global hoodies & sweatshirt industry is divided into men, kids, and women segments. Furthermore, the men segment, which gathered approximately half of the global industry revenue in 2023, is set to make major contributions towards the global industry profits in the next eight years. The growth of the segment in the forecasting years can be attributed to the large-scale purchase of hoodies and sweatshirts by men belonging to all age groups.

Hoodies & Sweatshirt Market: Report Scope

Hoodies & Sweatshirt Market: Regional Insights

North America is expected to maintain its leadership status in the global market in the forecast period

North America, which contributed about three-fourths of the global hoodies & sweatshirt market revenue in 2023, is expected to establish a key position in the global market in the upcoming years. In addition to this, the regional market expansion in the forecast timespan can be credited to the large-scale use of apparel of different sizes, fashions, and colors as clothing worn by the American population. Apart from this, an increase in fabric imports by the U.S. government will proliferate the size of the regional market. Presence of key manufacturers and vendors as well as the availability of strong distribution channels in countries such as the U.S. will drive the growth of the market in North America.

The Asia-Pacific hoodies & sweatshirt industry is slated to register the highest growth rate in the next few years. The rapid progression of the industry in the sub-continent can be due to a growing preference for outdoor games in countries such as India, Japan, and China. Popularity of the sporting events such as cricket, football, gymnastics, hockey, badminton, martial arts, and basketball will boost product penetration in the sub-continent.

Key Developments

• In February 2024, Carhartt announced the expansion of its clothing product line through the launch of sweatshirts & T-shirts at reasonable costs.

Hoodies & Sweatshirt Market: Competitive Space

The global hoodies & sweatshirt market profiles key players such as:

• PVH
• Puma
• GAP
• Fitch
• UNDER ARMOUR
• Skechers
• New Balance
• Columbia
• Adidas
• Hanesbrands Inc.
• Abercrombie
• Lululemon
• Ralph Lauren
• VF Corporation
• Capri Holdings
• Patagonia
• Nike
• Levi's

The global hoodies & sweatshirt market is segmented as follows:

By Material Type

• Leather
• Cotton
• Fleece
• Wool

By End-Use 

• Men
• Kids
• Women

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa