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The ethnic wear market is estimated to grow by USD 34.33 billion at a CAGR of 7.42% between 2022 and 2027. The growth of the market depends on several factors, including the expansion of the fashion industry, the increased presence on social media platforms, and the increased disposable income.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The expansion of the fashion industry is notably driving market growth, although factors such as seasonal demand for ethnic wear may impede the market growth. 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.
The expansion of the fashion industry is notably driving market growth. The demand for ethnic wear has increased with the expansion of the fashion industry. Designers are catering to the evolving tastes and preferences of consumers. The growing trend of fusion fashion is fueling the popularity of ethnic wear. Consumers are increasingly looking for unique and innovative styles that blend different cultures and traditions.
The increasing purchasing power of consumers in emerging markets such as India, China, and the Middle East has led to a surge in demand for high-quality ethnic wear. The demand for ethnic wear is expected to increase further, which will create new opportunities for designers, manufacturers, and retailers. As the industry continues to grow, the demand for ethnic wear will continue to increase. These factors will drive further the global market during the forecast period.
The increased online presence of ethnic wear is a key trend in the market. The online presence of traditional dress has grown significantly in recent years due to the increasing demand and the availability of a wide range of ethnic wear. Online marketplaces and websites offer a vast range of traditional clothing options for men, women, and children. Some popular online platforms are Amazon, Flipkart, Myntra, Jabong, Utsav Fashion, and Craftsvilla.
Social media platforms such as Instagram and Facebook enable independent designers and small businesses to showcase their traditional dress collections. These platforms have become popular among consumers who want to explore unique and handmade ethnic wear options. Therefore, the online presence of ethnic wear has made it easier for people to access traditional clothing options from various cultures. These factors may boost the growth of the global market during the forecast period.
The seasonal demand for ethnic wear may impede the market growth. This type of traditional dress is generally associated with cultural festivals and occasions, which leads to seasonal demand. However, during the off-season, it can be challenging for businesses to sustain their operations. Occasions such as weddings and festivals are usually scheduled during specific times of the year. As a result, the sales and revenues of businesses that specialize in ethnic wear keep fluctuating throughout the year.
Seasonal demand also affects the pricing of traditional dress. Prices tend to be higher during peak seasons due to high demand. Due to lower sales during off-seasons, businesses have to balance their inventory and pricing strategies accordingly. Therefore, seasonal demand for ethnic wear may hamper the growth of the 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.
Global 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.
Fabindia Overseas Pvt. Ltd. - The company offers ethnic wear such as Silk Matka Placket Detail Long Kurta, Yellow Viscose Hand Block Printed Sari, Beige Cotton Hand Block Printed Sari, and Black Linen Blend Long Kurta. It focuses on the manufacturing and marketing of garments, furnishings, fabrics, and ethnic products handmade by craftspeople across rural India.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, 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 share growth by the women segment will be significant during the forecast period. The demand for women's traditional dress depends on various factors, such as cultural events, festivals, weddings, and other occasions. Traditional dress is popular among women in many parts of the world, especially in countries with diverse cultures, such as India, Pakistan, Bangladesh, and other South Asian countries.
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The women segment was valued at USD 31.11 billion in 2017 and continued to grow until 2021. The growth of the fashion industry and increasing globalization have led to the demand for fusion wear that combines traditional traditional dress with modern styles and trends. In addition, there is a growing demand for traditional dress in the workplace. Many companies allow employees to wear traditional attire on specific days of the week or during festivals. This has led to an increase in the demand for traditional dress among working women. Thus, the demand for women's ethnic wear is expected to continue growing during the forecast period, which, in turn, will boost the growth of this segment.
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APAC is estimated to contribute 40% 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.
Countries in APAC have unique styles of traditional clothing. This has contributed to the popularity of traditional dress. The fashion industry in APAC has evolved significantly over the years, and designers have been incorporating traditional designs and fabrics into modern clothing to reach a wider audience. The rise in disposable income in APAC has led to an increase in demand for high-quality traditional clothing. Consumers are willing to spend more on premium fabrics and unique designs. Globalization has expanded the popularity of ethnic wear to different parts of the world. This has led to an increase in demand for Asian ethnic wear. Thus, the high demand for the market will positively impact the growth of the regional market in APAC during the forecast period.
The market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market caters to a diverse group of people, each with their own ethnic and cultural background. Rooted in historical tradition, ethnic wear has evolved into fusion clothing, blending traditional garments like Kurtis, saris, and lehengas with modern apparel like jeans, crop tops, and shirts.
Ethnically diverse women, with varying body shapes, are increasingly influenced by social media advertising and fashion influencers, including micro-influencers. The relatability of these influencers and their fashion and lifestyle judgments create a strong social media community that engages with both customers and brands.
This market emphasizes consumer-friendly communication and offers unique types of apparel in vibrant colors, bold patterns, and heavy designs, known for their elegance and charm. With a phenomenal growth rate, driven by e-commerce, traditional dress combines traditional elegance with innovative designs, attracting customers globally. High-end brands offer limited-edition goods, leveraging digital marketing and influencers to reach a wide audience. Local firms are also adopting sustainable business models to cater to the corporate sector's demand for traditional dress, reflecting a trend towards tolerance and appreciation for cultural diversity.
Ethnic Wear Market Scope |
|
Report Coverage |
Details |
Page number |
145 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.42% |
Market growth 2023-2027 |
USD 34.33 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.09 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, India, China, Japan, and Russia |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aditya Birla Management Corp. Pvt. Ltd., BIBA Apparels Pvt. Ltd., Diwan Saheb Fashions Pvt. Ltd., ELIE SAAB, Esika World, Fabindia Overseas Pvt. Ltd., High Street Essentials Pvt. Ltd., House of Torani, Kalki Fashion, Landmark Group, Lemlem, Mr Dulha, Nesavaali Ltd., Ochre and Black Pvt. Ltd., Rain and Rainbow, Raymond Ltd., Shanghai Tang, TCNS Clothing Co. Ltd., Thebe Magugu Ltd., and Vedant Fashions Ltd. |
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, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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
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