Global Apparel Market Size 2024, Forecast To 2033
11 Mar, 2024
The apparel market size has exhibited robust growth, climbing from $655.7 billion in 2023 to $703.11 billion in 2024, marking a compound annual growth rate (CAGR) of 7.2%. This growth in the historic period is attributed to strong economic growth in emerging markets, increased foreign direct investments, a heightened demand for man-made fibers, and technological advancements. Moving forward, the market is set to witness continued expansion, reaching $918.71 billion in 2028, with a CAGR of 6.9%. Growth drivers in the forecast period include increased social media penetration, rising motorcycle sales, the growth of e-commerce, and a surge in demand for sportswear and performance wear. Key trends include adopting blockchain technology for supply chain reliability, leveraging artificial intelligence for trend prediction, and incorporating virtual reality and augmented reality into both physical stores and online platforms to enhance the shopping experience.
Global Apparel Market Key Driver
The apparel manufacturing market is anticipated to grow, driven by the increasing demand for online shopping. Manufacturers can now reach a larger customer base globally, enhancing the geographical scope of their product sales. In countries like India, the surge in e-commerce portals has significantly boosted the sales of traditional garments. These platforms provide broader exposure to producers who were previously confined to a specific geographical location where the weaving community was situated. The expansion of online shopping is expected to positively impact the apparel manufacturing market by fostering increased sales and market growth.
Get A Free Sample Of The Global Apparel Market ReportGlobal Apparel Market Segments
The apparel market covered in this report is segmented –
1) By Type: Women's Wear, Mens Wear, Kids Wear
2) By Fiber: Man-Made Fibers, Cotton Fibers, Animal Based Fibers, Vegetable Based Fibers
3) By Distribution Channel: Offline Sales, Online Sales
Subsegments Covered: Dresses & Skirts, Womens Trousers, Blouses, Womens Jerseys, Sweatshirts & Pullovers, Womens Coats and Jackets, Womens Suits & Ensembles, Womens Blazers, Night & Underwear (Women & Girls), Womens T shirts & Slarlets, Womens Sports & Swimwear, Other Womens Wear, Mens Trousers, Mens Shirts, Mens Jerseys, Sweatshirts & Pullovers, Mens Coats and Jackets, Mens Blazers, Mens Suits, Night & Underwear( Mens and Boys), Mens T shirts & Slarlets, Mens Sports & Swimwear, Other Mens Wear, Infant And Toddler Clothes, Young Children Clothes
By Geography:The regions covered in the apparel market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Western Europe was the largest region in the apparel market in 2023. Asia-Pacific was the second largest region in the apparel market. The regions covered in the apparel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Apparel Industry Players
NIKE, Inc., Adidas AG, PVH Corp., Christian Dior SE, Hanesbrands Inc., VF Corporation, Levi Strauss & Co., Kering S.A., Ralph Lauren Corporation, Samsung C&T Corporation, Aditya Birla Fashion and Retail Limited, Shanshan Group Co., United Arrows, Matsuoka Corp, Heilan Group, Youngor Group, Bosideng Corporation, Fujian Septwolves Industry Co. Ltd., Shimamura, Uniqlo, Nishimatsuya, Me & Mom, Allen Solly, Vipshop, Louis Philippe, Peter England, Van Heusen, Fabindia, Decathlon, Under Armour, H&M, Zara, Primark, Mark & Spencer, Next, MoroZoni, Depo, Lee, Colin's, Diesel, Wrangler, Rifle, Big Star, Mustang, Guess, Westland, Tommy Hilfiger, Gloria Jeans, LPP SA., Calvin Klein, Zumiez, Converse, Brooks Brothers, Hollister, Aeropostale, American Eagle Outfitters, Abercrombie & Fitch, Old Navy, GAP, Michael Kors, Coach, Gildan Activewear, Houpa, Chanel, Tee Spring, Inc., Azadea Group, Urban Outfitters, Al Bandar Trading Co, MANGO, Osman Jamjoom Group, Truworths Group
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Apparel Market Overview
Apparel refers to any clothing made of textiles created by weaving, knitting, or felting, in whole or in part, that is worn on a special occasion to build culture and create an aesthetic appearance in the home and on official occasions.
Apparel Global Market Report 2023 provides data on the global apparel market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The apparel market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.