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The women's apparel market size is estimated to decline at a CAGR of 4.93% between 2022 and 2027. The market size is forecast to increase by USD 188.13 billion. The growth of the market depends on several factors, including premiumization through well-positioned brands, rising number of working women across the globe, and an increasing focus on social media and celebrity endorsements.
This women apparel industry analysis report extensively covers market segmentation by product (tops and dresses, bottom wear, intimates and sleepwear, coats, jackets, suits, and accessories and other clothing), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 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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Premiumization through well-positioned brands is notably driving the market growth, although competition from other consumer goods to capture share of personal disposable income 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.
Premiumization through well-positioned brands is notably driving the growth of women apparel market analysis. The market offers a wide variety of products of varying quality. However, there is currently a strong preference among consumers for premium and high-end brands. Luxury brands usually represent quality, style, and status for most people. Therefore, customers choose brands that are well-positioned in the market and do not hesitate to pay extra for these brands. Premium brands such as Gap, H and M, Kering, and LVMH (with high brand awareness among customers) are positioned for wealthy customers who can afford high-quality products at high prices. Therefore, the price of premium women's clothing is significantly higher than that of ordinary generic women's clothing. This is a key factor for companies serving premium and demanding customer segments.
The luxury women's clothing segment, which includes tops, dresses, coats, jackets, jeans, and suits, is currently growing and is expected to continue to grow. Manufacturers operating in this sector are beginning to focus on expanding their presence in the luxury segment to cover the full range of women's clothing, from tops to pants. This will drive the growth of the market during the forecast period.
Virtual reality to enhance the shopping experience of consumers is a key trend influencing the women apparel market growth. Virtual shopping is becoming part of the lifestyle. This new technology helps shoppers virtually try on different garments, confirming fit, color, style, and other relevant parameters before purchasing a product. It's arguably one of the best and most innovative techniques used to improve the consumer's shopping experience. The technology also helps save time, as buyers don't have to wait in line at the test room. The technology helps online shoppers visualize what products and clothing will look like given their individual body measurements. Virtual fitting rooms also address issues of size and the inconvenience of returning inappropriate products.
A good example is Nordstrom, which enabled fitting rooms by introducing full-body mirrors with interactive screens in two of its stores. Developed by eBay, this technology allows customers to browse products and read product reviews as if they were online. It also has a barcode scanner to check product availability in stores and allows shoppers to request items to be brought into the fitting room. Therefore, virtual reality, which enhances the consumer's shopping experience, is a key trend in the growth of the market during the forecast period.
Competition from other consumer goods to capture a share of personal disposable income is challenging the women's apparel market growth. Consumer disposable income is spread across the consumption of various products with different contributions, such as clothing, food, groceries, durable goods, electronic goods, and other consumer goods. Changes and fluctuations in income levels lead to changes in consumer purchasing behaviour for these different commodities. The prevailing economic conditions in each region affect the ability and willingness of consumers to spend to expand their wardrobe collections.
Economic volatility and uncertainty will force consumers to limit their spending on groceries and avoid buying non-essential items. It also encourages them to look for items that are available at discounted prices rather than full prices. In addition, women's clothing marketers face stiff competition from other consumer goods marketers. Therefore, competition with other consumer goods for a share of disposable income is likely to pose a significant challenge to the growth of the market during the forecast period.
The women's apparel industry analysis 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 Women Apparel Market Customer Landscape
Vendors 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.
Benetton Group Srl: The company offers a wide range of products such as loungewear, jeans, dresses, and accessories. It also offers a loose loungewear tee which is designed to be used for any occasion.
The women's apparel industry analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, 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 tops and dresses segment will be significant during the forecast period. Women's tops and dresses will command a major market share in the market. This segment includes blouses, dresses, shirts, T-shirts, sports shirts, tank tops, sweaters, vests, sweatshirts, and work shirts. In recent years, the demand for women's tops and dresses has increased. Women tend to buy dresses that are versatile and multifunctional. Clothes that can be used for both business and private use are popular. Products in this segment are made from cotton, polyester, or blended fabrics. The upper part is characterized by a lower unit price than the lower part.
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The tops and dresses segment was valued at USD 285.22 billion in 2017 and continued to grow until 2021. This segment has the largest share (in terms of sales) of the global market. Demand for tops will be affected by the development of fashion trends. The high demand for dresses is due to their versatility. The dress can be worn both formally and casually, making it more appealing to female buyers. Changes in local fashion trends tend to shorten the change cycle. Therefore, the factors are expected to drive the growth of the tops and dresses segment of the market during the forecast period.
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APAC is estimated to contribute 40% to the growth of the global women apparel market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
A larger population, rising income levels, changing consumer buying behavior, and changing lifestyles are some of the market drivers in the region. Countries such as China and Japan are popular destinations for international suppliers of women's clothing. Many vendors are introducing lower-priced brands to attract price-sensitive consumers in the Asia-Pacific region. The number of working women has increased, and as a result, women can spend more money on goods such as clothing. Vendors are increasingly customizing their products to accommodate local tastes and consumer preferences. When it comes to women's clothing, the Asia-Pacific market is fragmented. Only a few countries such as China, India, and Japan are likely to register significant growth rates during the forecast period due to their increasing population.
The COVID-19 outbreak negatively impacted the market in 2020. Due to the rising number of COVID-19 cases restrictions were imposed on commercial and industrial activities. As a result, most retail stores were closed in the first half of 2020. This negatively impacted offline sales channels. However, this increased the demand for women's clothing through online sales channels. The start of a mass vaccination campaign has reduced the number of COVID-19 cases globally in 2021. This fully restarted operation for women's clothing manufacturing plants. In addition, as people become more health conscious, there has been a significant increase in sports and fitness activities, which has led to an increase in the growth of women's clothing. Increasing demand for women's apparel is expected to likely fuel the growth of the market during the forecast period.
The women apparel market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global women apparel market as part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. The parent market, the global apparel, accessories, and luxury goods market, includes products and companies engaged in the manufacture/marketing of apparel, accessories, and luxury goods. The market also includes companies that provide rental services for apparel, accessories, and luxury goods. Technavio calculates the global market size for textiles, apparel, and luxury goods based on the total revenue generated by manufacturers/marketers of textiles, apparel, footwear, accessories, and luxury goods.
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Women Apparel Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.93% |
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Market growth 2023-2027 |
USD 188.13 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.76 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Benetton Group Srl, Burberry Group Plc, CHANEL Ltd., Dolce and Gabbana S.r.l, Gianni Versace Srl, Giorgio Armani S.p.A., Hermes International SA, Industria de Diseno Textil SA, Kering SA, LVMH Moet Hennessy Louis Vuitton SE, Nike Inc., Prada Spa, PUMA SE, PVH Corp., Ralph Lauren Corp., The Gap Inc., Adidas AG, Hennes and Mauritz AB, Aditya Birla Management Corp. Pvt. Ltd., and Uniqlo Co Ltd |
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Market dynamics |
Parent market analysis, 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 forecast period |
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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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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