What is the Historic and Current Scenario of the Apparel And Leather Products Market?
The apparel and leather products market has seen considerable growth due to a variety of factors.
• The market size for apparel and leather products has seen significant growth in the past few years. This market is projected to expand from $1107.2 billion in 2024 to $1198.78 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.3%.
The historical growth can be accredited to various factors such as the globalization of the fashion industry, the surge in retail and e-commerce, the push for sustainable and ethical fashion, cultural and social impacts, and the rise of fast fashion.
What Is the Forecasted Market Size and Growth Rate for The Apparel And Leather Products Market?
The apparel and leather products market is expected to maintain its strong growth trajectory in upcoming years.
• The dimension of the apparel and leather products market is predicted to witness significant expansion in the upcoming years. It is anticipated to escalate to $1594.68 billion in 2029 with a compound annual growth rate (CAGR) of 7.4%.
The progression in the projection period can be credited to the emergence of sustainable fashion methods, resilience of global supply chains, cultural pluralism and inclusivity, the circular fashion economy, and the growth of rental and secondhand markets. Predominant trends during the forecast period comprise the digital transformation in fashion retail, the rise of customization and personalization, the advent of digital fashion shows and virtual events, advancements in alternatives to leather, and the application of blockchain for supply chain transparency.
Which Drivers Are Accelerating Growth In The Apparel And Leather Products Market?
The continued rise of social media is predicted to drive the expansion of the apparel and leather goods market. Social media encompasses digital platforms and tools that allow the creation, sharing, and exchange of content, enabling communication and interaction among individuals and societies. The power of social media is increasingly prominent due to its ability to quickly spread information, connect users globally, and shape trends through user participation and engagement. By promoting trends with visual narratives, enabling brands to interact directly with consumers, and stimulating impulse purchases through targeted ads and influencer endorsements, social media contributes to boosting the demand for clothing and leather goods. For example, in January 2022, a report by We Are Social, a UK-based media firm, and Hootsuite, a software company from Canada, projected there would be 4.62 billion social media users globally in 2022. This statistic equates to 58.4% of the global population. Over the past year, the number of global social media users has risen by over 10%, with 424 million fresh users starting their social media experience in 2021. As such, the escalating impact of social media is fueling the expansion of the apparel and leather goods market.
What Are The Main Segments Of The Global Apparel And Leather Products Market?
The apparel and leather products market covered in this report is segmented –
1) By Type: Leather And Allied Products, Apparel
2) By Distribution Channel: Online Sales, Offline Sales
3) By End User Sex: Men, Women, Kids
Subsegments:
1) By Leather And Allied Products: Leather Footwear, Leather Bags and Accessories, Leather Garments, Leather Upholstery and Furnishings, Allied Products
2) By Apparel: Men’s Apparel, Women’s Apparel, Children’s Apparel, Sportswear and Activewear, Formal Wear and Workwear
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What Emerging Trends Are Influencing The Growth Of The Apparel And Leather Products Market?
Leading businesses in the apparel and leather sector are introducing innovative products such as four-tubed footwear, aiming to offer improved flexibility and support. The four-tubed footwear is a unique shoe design defined by four separate tubular areas or segments, primarily used to boost comfort and flexibility, frequently found in specialized shoes like orthopedic or performance footwear. For example, Nike Inc., a US-based shoe company, unveiled the Air Max Dn in March 2024. This shoe boasts a distinctive four-tubed Nike Air unit that incorporates Dynamic Air, which facilitates a dynamic transition from heel to toe and provides a remarkably smooth feel with each step. This revolutionary air unit comprises two pressurized chambers, each with two tubes. The heel has higher pressure for cushioning, while the forefoot has lower pressure for a responsive, springy stride.
Who Are the Key Players in the Apparel And Leather Products Market?
Major companies operating in the apparel and leather products market include:
• Louis Vuitton Moet Hennessy - LVMH
• Christian Dior SE
• Adidas AG
• H&M Hennes & Mauritz AB
• Kering SA
• Nike Inc.
• VF Corporation
• Hermès International S.A.
• Puma SE
• Coach Inc.
• Ralph Lauren Corporation
• Levi Strauss & Co.
• New Balance Athletics Inc.
• Fila Holding S.p.A.
• Michael Kors Holdings Limited
• Burberry Group plc
• Calvin Klein Inc.
• Tommy Hilfiger Licensing LLC
• Giorgio Armani S.p.A.
• Valentino Fashion Group S.p.A.
• Kate Spade & Company
• Knoll Inc.
• The Timberland Company LLC
• Versace S.p.A.
• Rajesh Exports Limited
• Johnston & Murphy Inc.
• Hobbs plc
• Givenchy S.A.S.
• Noisy May ApS
• Woodland Worldwide Brands Limited
• The Gap Inc.
What Is The Most Dominant Region In The Apparel And Leather Products Market?
Asia-Pacific was the largest region in the apparel and leather products market in 2024. Western Europe was the second largest region in the apparel and leather products market. The regions covered in the apparel and leather products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
