Enjoy complimentary customisation on priority with our Enterprise License!
The apparel market size is estimated to increase by USD 582.93 billion and grow at a CAGR of 6.65% between 2022 and 2027. Market expansion relies on diverse factors, encompassing sustainability and ethical practices, heightened demand for exclusive designer collections, and heightened activity in mergers and acquisitions among vendors and retailers. However, the market faces hurdles such as the proliferation of local and unorganized players, shifts in trade policies, and the escalation of labor expenses coupled with volatile fluctuations in raw material prices. Despite these challenges, the market continues to evolve, driven by a growing emphasis on eco-conscious consumerism, premium brand offerings, and strategic business consolidations. Mitigating the impact of local competition, adapting to changing trade regulations, and implementing cost-effective strategies to manage labor expenses and raw material procurement are critical for navigating the complexities and ensuring sustained growth in the fashion industry landscape.
To learn more about this report, View Report Sample
The market share growth by the women segment will be significant during the forecast period. The market experienced significant growth in the adult and children segments, particularly in the women's sector, in 2022. Factors driving this trend include evolving fashion preferences, increasing purchasing power, and changing lifestyles. Women continue to lead the way in adopting new styles, resulting in continuous demand for various clothing items, such as shirts, pants, coats, skirts, suits, and footwear like heels, sneakers, and boots. Clothing is a form of self-expression, and individuals use it to reflect their personal style, cultural preferences, and identity. The fashion industry offers a wide range of materials, including linen, leather, satin, lace, crepe, chiffon, silk, denim, and handwoven fabrics like linen from weavers using power looms and handlooms.
Get a glance at the market contribution of various segments View the PDF Sample
The women segment was valued at USD 630.20 billion in 2017 and continued to grow until 2021. However, the production of apparel can have harmful impacts. Many clothing items are dyed using vibrant pigments coated with chemicals, making them water-resistant and durable. These practices can contribute to water pollution and the use of toxic chemicals in textile processing. Additionally, some materials, such as wool and leather, may involve unethical practices, animal cruelty, or the use of vegan leather made from synthetic materials. Luxury apparel brands offer long-lasting clothing made from high-quality materials like silk, which can have a positive impact on the environment and reduce the need for frequent purchases. Consumers can make conscious choices by supporting ethical and sustainable fashion practices and considering the environmental and social impacts of their clothing purchases. Thus the above factors will fuel the growth of the women segment during the forecast period, which, in turn, will drive the global market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The APAC region held the largest market share in the global industry in 2022. Economic growth and increased disposable income in countries like China, India, and Southeast Asian nations have fueled demand for clothing among adults and children. Urbanization has transformed lifestyles, providing access to global fashion trends and a larger customer base. Weavers produce various fabrics, such as linen, leather, satin, lace, crepe, chiffon, silk, denim, and handlooms or power looms, for shirts, pants, coats, skirts, suits, and footwear like heels, sneakers, and boots. Fashion industry trends include vibrant pigments, water resistance, durability, and materials like wool and vegan leather. However, unethical practices, toxic chemicals, and water pollution during textile processing and dying methods can have harmful impacts. Luxury apparel brands offer long-lasting clothing, but some may use animal cruelty or harmful chemicals. Thus, the above factors are expected to increase the demand for apparel in APAC and drive the growth of the regional market during the forecast period.
The market encompasses a wide range of products including traditional garments and luxury wear for adults and children. E-commerce portals have significantly transformed the way apparel is bought and sold, making textile-based materials such as yarns, fabrics, and knitted or woven apparel easily accessible to consumers. Women's apparel, including shirts, pants, coats, skirts, suits, and various types of footwear like heels, sneakers, and boots, are popular categories in this market. Luxury brands specializing in high-end women's apparel continue to dominate the market, offering a vast selection of quality materials and intricate stitching. The apparel market's growth is driven by the increasing demand for fashionable and comfortable clothing, making it an essential sector in the textile industry. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the growing demand for sustainable and ethically produced clothing. The market is witnessing a shift towards sustainability and ethical production in response to growing consumer concerns regarding the industry's environmental and social impact. This trend is particularly noticeable in the fast fashion sector, which has historically been criticized for its resource-intensive and labor-exploitative practices. In response, many brands are adopting eco-friendly practices such as using organic or recycled materials, ensuring fair labor standards, and minimizing waste throughout the supply chain. Notable examples of sustainable materials include organic cotton, recycled polyester, Tencel (derived from wood pulp), and Pinatex (made from pineapple leaf fibers). These materials offer significant environmental benefits, including reduced water usage, decreased chemical pollution, and minimized waste generation. Skilled weavers and artisans play a crucial role in the production of sustainable textiles, contributing to the overall sustainability and authenticity of the final product. Thus, growing demand for sustainable clothing may boost the growth of the global market during the forecast period.
A key factor shaping the market growth is the growing online penetration. The market has undergone significant transformation due to the rise of online sales. This shift has been particularly notable in the fast fashion sector, where consumers value convenience and access to a wide range of options. Online shopping enables customers to browse and purchase apparel from anywhere, at any time, making it an attractive alternative to traditional retail. Moreover, online retailers can stock larger inventories, offering a greater selection of styles, sizes, colors, and brands. However, it is essential to consider the environmental impact of this trend, as the demand for fast fashion can put pressure on skilled weavers and other artisans, potentially leading to the loss of traditional textile industries. Thus the growing online penetration drives the global market during the forecast period.
The growing presence of local and unorganized players is one of the key challenges hindering the global market growth. The market faces challenges from the increasing prevalence of local and unorganized competitors, particularly in the fast fashion sector. These competitors offer low-priced, often counterfeit goods, negatively impacting the sales of major brands like Zara and H&M. Local labels also dominate supermarket shelves for women's clothing. Additionally, customers' brand loyalty is weak, leading them to frequently switch brands. The intense price competition from these local and unskilled competitors hampers the expansion of the global apparel market. Furthermore, environmental concerns and the need for skilled weavers add complexity to the market landscape. Thus the increased presence of local and unorganized players can impede the growth of the global market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Groupe Artemis: The company offers apparel such as nightwear pajamas, joggers, and loungewear. Also, it offers fashion, wine, luxury, art, tourism, publishing, sports, food, and technology.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
Apparel marketing refers to the promotion and sale of clothing and fashion items. The apparel industry is a significant contributor to the global economy, with a large consumer base and continuous trends. Apparel companies employ various marketing strategies to reach their target audience, such as social media advertising, influencer marketing, and email marketing. The apparel market is diverse and includes various segments, such as men's wear, women's wear, children's wear, and athletic wear. The market is also influenced by factors like consumer preferences, fashion trends, and economic conditions. Apparel marketing involves creating awareness and demand for products through various channels, including traditional media, digital marketing, and retail stores. Companies use various tactics, such as discounts, promotions, and collaborations, to attract customers and increase sales. The apparel industry is also impacted by globalization, with many companies sourcing materials and manufacturing in different parts of the world to reduce costs and cater to diverse markets. The use of technology, such as e-commerce platforms and automation, is also transforming the apparel industry and changing the way companies market and sell their products.
E-commerce portals offering high-end fashion ranges are increasingly using fiber-based materials in their products. This shift toward sustainability incorporates traditional techniques like knitting and weaving to create unique clothing and footwear items. By embracing these methods, E commerce portals cater to consumers seeking both luxury and eco-friendliness in their fashion choices. This combination of quality and sustainability enhances the appeal of online shopping for fashion-conscious customers.
Apparel Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.65% |
Market growth 2023-2027 |
USD 582.93 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.43 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, ASOS Plc, BESTSELLER AS, Columbia Sportswear Co., Fast Retailing Co. Ltd., Groupe Artemis, H and M Hennes and Mauritz GBC AB, Hanesbrands Inc., Industria de Diseno Textil SA, Kering SA, Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Nike Inc., PVH Corp., Ralph Lauren Corp., Ross Stores Inc., The Gap Inc., The TJX Companies Inc., Under Armour Inc., and VF Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.