Topic: Apparel market worldwide (2024)

FAQs

What is the global apparel market? ›

The latest global apparel industry statistics show that revenue from the apparel market is expected to exceed $1.7 trillion in 2023, a 13.7% year-over-year increase. This marks significant growth over the past decade. In 2014, the global apparel market size totaled $1.54 trillion.

The global apparel market grew from $610.12 billion in 2022 to $652.94 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.

Sustainability. Sustainability is still the biggest problem the fashion industry is now facing, despite the fact that it is the second most polluting industry on the planet. The creation of clothing consumes a great deal of natural resources and generates a tonne of harmful waste that is dumped directly into waterways.

Manufacturers now have the opportunity to sell their products across a much larger platform than before, which means they can expand their customer base geographically. This will boost the growth of the apparel manufacturing industry.

Revenue in the Apparel market amounts to US$343.70bn in 2023. The market is expected to grow annually by 1.96% (CAGR 2023-2027). The market's largest segment is the segment Women's Apparel with a market volume of US$179.70bn in 2023.

The five levels of fashion segmentation are Haute Couture, Ready-to-Wear (RTW), Diffusion, Bridge and Mass Market.

The manufacture of textiles provides an economic boost to many countries in the world. Economies can be made or broken with the addition or loss of a textile industry, which in turn can affect the ability of people to support their families and provide them with the basic necessities of life.

The global apparel market is expected to grow from $551.36 billion in 2021 to $605.4 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The market is expected to grow to $843.13 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%.

The fashion industry is mature and characterized by short life cycles, high volatility on the demand side, high buying impulse, high-cost pressure, and low predictability (Čiarnienė & Vienažindienė, 2014) .

France is the leading country for the fashion industry in the world, according to the Brands Countries IPX by IFDAQ. Scoring above 3,000 index points, France was ahead of Italy (2,800 points) and the U.S. (2,235 points).

Who is the target market of clothing business? ›

Customer Segmentation

High school and middle school age consumers looking for the trendiest in latest fashion. College age consumers that are looking for trendy clothing at an affordable price. Young professionals in search of trendy clothing at an affordable price for themselves and their children.

On a positive note, Digital Technologies, Sustainability & Consumer Engagement are the biggest opportunities of 2022. Also, the biggest challenges in 2022 are predicted to be supply chain, logistics, & inventory management, Sustainability, and Covid-19 recovery.

Arguably, the key to their success has been having a clear brand identity that resonates with their target customers, staying authentic to that identity, and knowing how to communicate it to the desired audience. So, take the time to think – really think – about your brand from the start.

The domestic textiles and apparel industry stood at $152 bn in 2021, growing at a CAGR of 12% to reach $225 bn by 2025. The textiles and apparel industry in India has strengths across the entire value chain from fiber, yarn, fabric to apparel.

It draws in thousands of people, generating about $887 million per year. In addition, fashion week brings in $11 billion in wages and $2 billion in tax revenue annually. This industry opens jobs in marketing, design, research, manufacturing, and more.

However, as you already know, the clothing industry is highly competitive, with an estimated worth of 1.9tn. The most prominent apparel market, by far, is the United States and some of the highest-earning clothing brands include famous houses, such as: Old Navy.

Revenue in the Apparel market amounts to US$96.47bn in 2023. The market is expected to grow annually by 3.34% (CAGR 2023-2027). The market's largest segment is the segment Women's Apparel with a market volume of US$43.65bn in 2023.

In 2022, the industry grew at 8.3%, while the previous year saw growth hit 18.4%, the fastest US fashion industry growth rate between 2019 and 2023.

What are the 3 categories of apparel? ›

Furnishing –This includes shirts, neckwear, sweaters, knit tops, underwear, socks, robes and pajamas. Heavy outerwear – This includes jackets, snowsuits, ski jackets, parkas, and related items. Work cloths – This includes work shirts, work pants, overalls and related items.

Definitions of apparel industry. makers and sellers of fashionable clothing. synonyms: fashion business, fashion industry, garment industry, rag trade. type of: industry. the people or companies engaged in a particular kind of commercial enterprise.

Fashion is crucial to history because it sets the tone for how people present themselves in every era. Everyone lives through fashion, sometimes by choice and sometimes because of societal rules. Clothes are a basic human need. Every piece of clothing has a purpose.

They allow you to track the competition based on near real-time data scraped from the web. And don't forget to look at feedback from your most recent order period and store visits from your retail and sales teams. There may well be valuable infoormation hidden in there.

The top 10 clothing brands in the world based on their brand value ranking in 2022 are Nike, Louis Vuitton, Gucci, Chanel, Adidas, Hermès, Zara, H&M, Cartier and UNIQLO.

A growing demand for fashion will boost the global apparel supply chain market at a CAGR of 3.8 percent until 2028.

A truly sustainable fashion brand is a brand that will look at its' entire supply chain and do as much as possible to reduce their carbon footprint for the benefit of society and the industry. What makes sustainable fashion brands different from regular brands greenwashing products is their approach.

How can we improve clothing industry? ›

Among the leading organizations in licensed merchandise worldwide in 2021, Walt Disney Company ranked first, with global retail sales of 56.2 billion U.S. dollars. Next in line was Dotdash Meredith (formerly Meredith Corporation), with global licensed merchandise sales of 35.9 billion U.S. dollars that year.

Noida, which has around 1,500 garment exporters operating out of its special economic zones, has been a textile hub for long, but was awaiting a formal recognition from the authorities. “Noida had already been recognised as an apparel city in the one district, one product programme of Uttar Pradesh.

If you sell shirts and pants for men, both men and women might be your target market. Men are likely to shop for clothing that you offer since it is designed for them. However, women in their lives are also likely to shop and purchase clothing for men, so women will shop at mens clothing stores as well.

While the fashion sector is booming, increasing attention has been brought to the impressive range of negative environmental impacts that the industry is responsible for. Fashion production makes up 10% of humanity's carbon emissions, dries up water sources, and pollutes rivers and streams.

The low cost of labour force is a crucial factor in the development of the textile and clothing industries. ... ... However, this growth was restrained by the low quality of raw materials, lack of trained workers, inadequate supply of equipment and quota restrictions.

Absence of Physical Stores

The biggest impact of the pandemic was felt by physical stores. Many customers remained hesitant to enter large retail spaces due to the increase in the number of Covid cases. Moreover, even in countries where open purchasing was still allowed, companies began to pivot towards digital sales.

In addition to environmental issues, fast fashion garments spark a lot of ethical concerns. They are often made in sweatshops where underpaid workers are employed for long hours in unsafe conditions and are exposed to harmful chemicals used in textile production.

What influences fashion the most? ›

A trend can thus emerge from street style, across cultures, and from influencers and other celebrities. Fashion trends are influenced by several factors, including cinema, celebrities, climate, creative explorations, innovations, designs, political, economic, social, and technological.

Throughout our engaging conversation, we discuss the 4 main pillars of fashion marketing: product, price, position, and promotion.

Since the 16th century, Milan has been regarded as the world's fashion capital.

Nike is the most valuable apparel brand in the world, valued at approximately 32.4 billion U.S. dollars in 2019. ZARA, adidas, and H&M are some of the other most valuable apparel brands worldwide.

Amazon.com is the number one seller of clothing in the U.S., having surpassed Walmart in 2020 to earn that distinction. The e-tailing and technology giant saw its sales of clothing and footwear jump 15 percent to $41 billion last year, according to analysts at Well Fargo.

Included in the apparel industries are three types of establishments: (1) the regular or inside factories; (2) contract factories; and (3) apparel jobbers.

New York City, and to a lesser extent Los Angeles, are the centers of America's fashion industry. They are considered leading fashion capitals. New York City is considered to be one of the "big four" global fashion capitals, along with Paris, Milan, and London.

Not only is New York City one of the most fashionable cities in the country, it is also a top contender in the world.

The US accounts for 24.67% of the total global economy, China has a share of 17.39%, Japan a share of 5.97%, Germany a share of 4.54% and the UK makes up 3.26%.