The apparel market consists of sales of apparel by entities (organizations, sole traders and partnerships) that produce apparel.Apparel producers cut and sew (i.. purchase fabric and cut and sew to make a garment) and/or produce garments by first knitting fabric and then cutting and sewing the fabric into a garment.The apparel manufacturing industry includes entities manufacturing full lines of ready-to-wear apparel and custom apparel: apparel contractors, performing cutting or sewing operations on materials owned by others, jobbers, performing entrepreneurial functions involved in apparel manufacturing, tailors, manufacturing custom garments for individual clients, and entities that combine knitting with the production of complete garments, but excluding producers of knitting fabric not combined with the produce of complete garments.
The global apparel market is expected to grow from $527.8 billion in 2020 to $635.7 billion in 2021 at a compound annual growth rate (CAGR) of 20.%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.The market is expected to reach $842.3 billion in 2025 at a CAGR of 7%.
