Markntel Advisors, a leading consulting, data analytics, and market research firm, recently published an analytical report description that describes the recent achievements and developments of prominent players including new launching of innovative products, strategic collaborations, or partnerships, that bolster the growth of the global Apparel market. One of the leading manufacturers ASICS’s apparel store was inaugurated in Bahrain by Apparel Group in 2024, situated at Marassi Galleria. This significant event signifies the commendable expansion of the revered Japanese athletic apparel label.
Additionally, recently in 2023, Reliance Retail unveiled its latest venture, Yousta, a fashion retail concept aimed at the youth demographic. Yousta’s youth-oriented fashion adventure kicked off with the opening of its first store in Hyderabad’s Sarath City Mall. The brand endeavors to offer stylish clothing at reasonable prices. This integration and adoption of innovative achievements seeks comprehensive attention from the large population and therefore propels the exponential growth of the Apparel Industry.
According to the report, the Apparel Global Market size was valued at around USD 1.34 trillion in 2023 & is projected to reach around USD 1.78 trillion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.3% during the forecast period, i.e., 2024-30.
🔍 The report covers forecasts for 2024-2030 and we’re also offering the latest forecast for 2025-2030 on request! Get it Today – https://www.marknteladvisors.com/query/request-sample/apparel-market.html
Bifurcation Analysis Based On Fiber Type, Sales Channel, and Region
The Apparel market is segmented into four segments based on type, sales channel, fiber type, and region.
- Based on Fiber type the market is segmented into Natural Fibers [Animal Fibers, Mineral Fibers, and Plant/Vegetable Fibers- Mineral Fibers], Man-made Fibers (Synthetic Fibers, Artificial/Regenerated Fibers, and Inorganic Fibers).
- Based on the Sales channel the market is segmented into Online Retail, Offline Retail [Fashion Stores, Shopping Malls, Local Retail Stores].
- Based on Region, the market is segmented into North America, South America, The Middle East & Africa, Asia-Pacific, and Europe.
Key Takeaways
- Study Period: Apparel market report historical data – 2019-22, Base year – 2023, and Forecast Period- 2024-30
- Market Growth: The Apparel Market is estimated to grow at a CAGR of around 4.3% during the forecast period, i.e., 2024-30.
- Growth Driver: The Apparel market is expected to expand with the Growing Popularity of Athleisure and Activewear Globally
- Growth Challenges: The Apparel market is expected to be hampered owing to Price Fluctuations & Environmental Concerns
- By Fiber Type: The Man-made Fiber Segment led the market segment, owing to numerous key elements, including their easy maintenance, resilience to shrinkage and wrinkles, and durability.
- By Sales Channel: The online retail segment led the market segment, owing to the shift in customer preferences, illuminating how e-commerce trends are reshaping the global clothing sector
- By Region: Asia-Pacific led the market growth, propelled due to the region is home to a large and growing middle class, particularly in China and India, which has increased the demand for fashion and lifestyle products, driving domestic consumption
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & Apparel adoption?
- Which region dominate Apparel in 2024?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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