How Big is the Apparel Market?
The Global Apparel Market size was valued at around USD 1.34 trillion in 2023 & is projected to reach around USD 1.78 trillion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.3% during the forecast period, i.e., 2024-30. The market is growing due to shifting fashion trends. The desire for personal style and self-expression has caused a surge in demand for new fashion lines, leading to increased sales of innovative textiles and clothing items. This trend can be seen particularly clearly in the rapid growth of women's apparel, driven by an expanding working-class female demographic.
Market Statistics
- Market Size in 2023: USD 1.34 trillion
- Market Size By 2030: USD 1.78 trillion
- Market Growth Rate (CAGR): 4.3% from 2024-2030
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Apparel Market Insight:
Driver-
Growing Popularity of Athleisure and Activewear Globally – The apparel market is experiencing sizable growth because of the growing global demand for athleisure and activewear. This fashion has been fueled because the purchasers search for an extra comfortable lifestyle that blends athletic wear with ordinary informal garb. Factors driving this shift consist of an additional emphasis on fitness & health and changes in workplace dress codes towards more relaxed attire. Athleisure's versatility enables individuals to seamlessly transition from workout to social settings without changing outfits, making it attractive throughout various demographics.
The result has been increased demand for top-notch and stylish sports apparel that excels during workouts and fits fashionably outside of athletic contexts. Many people have embraced a more active routine while leaning towards easygoing clothing options. Consequently, there is a growing trend among traditional fashion brands and athletic wear companies like Adidas, Athleta, Asics, and Puma to allocate more resources toward developing fresh materials and creative designs along with marketing tactics to appeal to an expanding customer base. This has subsequently driven the overall growth & expansion of the apparel industry.
Apparel Market Segmentation:
The report has segmented the market into the following categories:
By Type
- Formal Wear- Market Size & Forecast 2019-2030, USD Million
- Casual Wear- Market Size & Forecast 2019-2030, USD Million
- Sportswear- Market Size & Forecast 2019-2030, USD Million
- Sleepwear- Market Size & Forecast 2019-2030, USD Million
- Others (Party Wear, Swimwear, Ethnic Wear, etc.)- Market Size & Forecast 2019-2030, USD Million
By Fiber Type
- Natural Fibers- Market Size & Forecast 2019-2030, USD Million
- Animal Fibers- Market Size & Forecast 2019-2030, USD Million
- Mineral Fibers- Market Size & Forecast 2019-2030, USD Million
- Plant/Vegetable Fibers- Mineral Fibres- Market Size & Forecast 2019-2030, USD Million
- Man-made Fibers- Market Size & Forecast 2019-2030, USD Million
- Synthetic Fibers- Market Size & Forecast 2019-2030, USD Million
- Artificial/Regenerated Fibers- Market Size & Forecast 2019-2030, USD Million
- Inorganic Fibers- Market Size & Forecast 2019-2030, USD Million
By Distribution Channel
- Online Retail- Market Size & Forecast 2019-2030, USD Million
- Offline Retail- Market Size & Forecast 2019-2030, USD Million
- Fashion Stores- Market Size & Forecast 2019-2030, USD Million
- Shopping Malls- Market Size & Forecast 2019-2030, USD Million
- Local Retail Stores- Market Size & Forecast 2019-2030, USD Million
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Competitive Landscape:
- PVH Corp.
- Inditex
- Kering SA
- LVMH Louis Vuitton Moët Hennessy
- Aditya Birla Group
- H&M Hennes & Mauritz Retail Pvt. Ltd.
- Nike Inc.
- ASICS
- Puma
- Shein
- Reliance Retail
- Capri Holdings Limited
- Apparel Industries
- Toray Industries, Inc.
- Steve Madden
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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