Apparel Market size was valued at USD 658.06 Bn. in 2023 and the total Apparel revenue is expected to grow by 7.5 % from 2024 to 2030, reaching nearly USD 1091.75 Bn.
Apparel Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Apparel Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Apparel Market, with forecasts outspreading to the year 2030.
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Apparel Market Scope and Methodology:
The main objective of the study is to provide a comprehensive examination of the global Apparel market, focusing on a market-oriented approach. This involves understanding the market's dynamics, significant trends, growth drivers, obstacles, and potential opportunities. Data is gathered from primary and secondary research techniques. Primary data collection includes interacting with essential stakeholders in the Apparel market, including manufacturers, suppliers, distributors, retailers, end-users, and industry experts, via interviews and surveys. Information obtained from sources such as industry reports, market analyses, company websites, annual reports, trade journals, government publications, and databases constitutes secondary data.
Apparel Market segmentation is carried out using various factors such as product, component, size and installation location, and geographical regions like North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Additionally, a prediction model is developed by using past data, current market trends, and future estimates to estimate the market's size and potential growth during the expected timeframe. An in-depth analysis of the competitive environment is carried out, exploring the market strategies, product portfolios, technological advancements, and market positioning of key players. This in-depth examination aims to offer practical insights and support informed decision-making for stakeholders in the Apparel industry.
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Apparel Market Segmentation:
by Type
Formal Wear
Casual Wear
Sportswear
Nightwear
Other Types
In 2023, the apparel market's casual wear sector held a dominant position, and this trend is anticipated to continue during the forecast period. The rise in popularity of casual wear has been attributed to the trend toward more relaxed dress requirements in social and professional contexts. Many businesses now promote casual dress codes that let staff members wear anything they like without having to adhere to rigid dress codes. The popularity of athleisure and the growing emphasis on health and wellbeing have also increased demand for cozy and sporty apparel. The distinction between sportswear and casual wear has become more hazy due to this trend, which has caused athletic characteristics to be incorporated into regular clothing selections. Furthermore, the COVID-19 epidemic has expedited the prevalence of casual attire.
by Types of Fiber
Man-Made Fibers
Cotton Fibers
Animal-Based Fibers
Vegetable Based Fibers
Cotton fibers now hold a prominent position in the types of fiber utilized in the apparel market, and this trend is anticipated to persist throughout the forecast period. Because of its excellent breathability, cotton is perfect for warm weather and active lives since it promotes proper air circulation and moisture absorption. Sensitive skin types can wear it comfortably every day thanks to its hypoallergenic qualities and suppleness. Cotton fibers are also renowned for being easy to maintain and long-lasting. Cotton clothing holds its shape and color over time despite repeated washings and wearings. Their longevity adds to their worth over time and increases customer satisfaction. Moreover, the organic provenance of cotton corresponds with the expanding market for environmentally conscious and sustainable clothing.
by End User
Men
Women
Children
Women make up the majority of the end-user market for clothes. According to MMR study, women's clothing has long been a main focus in the fashion business, offering a wide range of options and styles suited to fit varied preferences and circumstances throughout history. Numerous factors contribute to this supremacy. Compared to men and children, women tend to purchase clothing more frequently—roughly 43% more often—due to shifting fashion trends, individual taste in style, and a desire for variety in their wardrobes. In addition, women's fashion frequently undergoes more frequent innovations and alterations to stay up with changing consumer preferences and interests.
by Distribution Channel
Online
Offline
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Apparel Market Key Players:
1.Inditex Group (Spain)
2.H&M (Sweden)
3.Nike (United States)
4.Adidas (Germany)
5.VF Corporation (United States)
6.LVMH (France)
7. Kering (France)
8.Fast Retailing (Japan)
9. PVH Corp. (United States)
10.Ralph Lauren Corporation (United States)
11. Gap Inc. (United States)
12. Levi Strauss & Co. (United States)
13. The Estée Lauder Companies Inc. (United States)
14.Burberry Group (United Kingdom)
15. Puma SE (Germany)
16. Coach (Tapestry Inc.) (United States)
17.Under Armour, Inc. (United States)
18. Tommy Hilfiger (PVH Corp.) (United States)
19.Columbia Sportswear Company (United States)
20. Luxottica Group (Italy)
Apparel Market Regional Insights:
The Apparel Market report is segmented into numerous key countries. Countries like North America, United States, Canada, Mexico, Europe, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN countries, other APAC countries, South America, Brazil, and the Middle East and Africa.
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Key questions answered in the Apparel Market are:
- What is Apparel?
- What was the Apparel Market size in 2023?
- What is the growth rate of the Apparel Market?
- Which are the factors expected to drive the Apparel Market growth?
- What are the upcoming opportunities and trends for the Apparel Market?
- What segments are covered in the Apparel Market?
- Who are the key players in the Apparel Market?
- What are the different segments of the Apparel Market?
- Who are the leading companies and what are their portfolios in Apparel Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Apparel Market?
- What growth strategies are the players considering to increase their presence in Apparel?
- What is the CAGR at which the Apparel Market will grow during the forecast period?
- Which is the fastest growing region in the Apparel Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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