The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 120 pages.
Quadintel recently published a new research report on the Garments Market. In addition to prospective prospects, this study offers a historical analysis of growth, cost structure, revenue, market trends, and capacity (2023-2030). The following section offers comprehensive coverage of the Garments Market across a number of market categories, in-depth research at the country level, and an assessment of the market’s key drivers, restraints, trends, and opportunities.
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The global garments market is projected to expand at a compound annual growth rate (CAGR) of 4.4% during the 2018-2023 period, generating revenue worth USD 1910.7 billion by 2023. High-end and luxury brands are adopting a see-now-buy-now model to capitalize on consumers’ inclination for discretionary expenditure and appeal to their desire for instant gratification. Reshoring (in the United States and Europe) and sustainable production are key strategies for manufacturers who are making significant investments to gain higher social acceptance and ensure faster deliveries with provisions for customizations.
The global garments market can be segmented based on gender and type of product, including women’s and girls’ apparel, men’s and boys’ apparel, intimates, hosiery, sports and swimwear, clothing accessories, and others. Women’s and men’s apparel generates 63.8% of the revenue, with the remaining accounted for by hosiery, sports and swimwear, intimate apparel, and clothing accessories. Garments marketed as fast-fashion designs have a high number of takers, especially in emerging markets. A rising middle class in emerging markets, along with their improved fashion-consciousness, is driving increased per capita expenditure. Market players are focusing on ensuring that the latest fashion trends can be incorporated into their offerings and hit stores in a matter of weeks, resulting in the undercutting of specialist players who once led the industry.
The global garments market can also be segmented based on distribution channel, including online and offline. Most of the market is still controlled by brick-and-mortar stores, although the growth rate of offline distribution is meagre. However, the sale of garments online is expected to grow at a significant rate during the forecast period. In North America, 81% of sales in 2018 are expected to be through offline stores.
In 2017, Asia-Pacific was the dominant garments market. During the 2018-2023 period, among all the regions across the globe, Latin America is expected to exhibit the highest CAGR of 6.8%. However, in 2017, in the U.K., revenue contribution from the men’s and boys’ apparel section stood at 24.5%.
Several companies are making significant contributions to the garments market. Some of the leading players in this space include Gap Inc., H&M, Inditex, Kering, L Brands, LVMH, Nike, Adidas, Calvin Klein, and Burton.
It also discusses market opportunity, CAGR growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, and future forecasts for various regions and/or countries.
North America’s market size, Y-O-Y growth, market players analysis, and opportunity outlook are covered in the report, along with Latin America’s market size, Y-O-Y growth, market players analysis, and opportunity outlook. The report also covers Europe’s market size, Y-O-Y growth, market players analysis, and opportunity outlook for countries such as the U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, and Rest of Europe. Asia-Pacific’s market size, Y-O-Y growth, market players analysis, and opportunity outlook are covered as well, along with the Middle East and Africa’s market size, Y-O-Y growth, market players analysis, and opportunity outlook for countries such as Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East and Africa.
The global garments market is growing at a steady rate, with a focus on high-end and luxury brands adopting a see-now-buy-now model to appeal to consumers’ desire for instant gratification. Reshoring and sustainable production are key strategies for manufacturers, while the market can be segmented by gender and type of product and by distribution channel. Asia-Pacific is currently the dominant garments market, while Latin America is expected to exhibit the highest CAGR during the forecast period.
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The following are significant aspects of the industry that may be relevant:
Market Size and Growth: The size of the market and its projected growth rate are essential factors that can provide valuable insights into the industry’s potential.
Competition: The level of competition in the market is a significant factor that can impact the pricing and profitability of companies operating in the industry.
Technology: Technology plays a critical role in the industry as search algorithms and consumer behavior continue to evolve rapidly.
Consumer Behavior: Understanding consumer behavior, such as search habits and preferences, can help companies optimize their marketing strategies and drive sales.
Regulatory Environment: The industry is subject to various regulatory requirements, including data protection and privacy laws, which can impact the way companies operate in the market.
Economic Factors: Economic factors, such as GDP, inflation, and consumer spending, can affect the growth and profitability of the industry.
Emerging Trends: Staying updated with emerging trends, such as voice search and artificial intelligence, can help companies stay ahead of the curve in the industry.
This report covers several key questions related to the global market, including:
- What can be expected for the market in the next decade?
- What are the primary drivers of growth in the global market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the market vary based on the size of the end market?
- What is the breakdown by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the market?
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