Apparel Market Value is Expected to Reach $809.8 Billion by 2023 : Covid 19 Impact And Recovery

The Business Research Company offers "Apparel Global Market Report 2020-30: Covid 19 Impact And Recovery" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trends and strategies that players in the market can adopt.

The global apparel market is expected to decline from $672.3 billion in 2019 to $659.7 billion in 2020 at a compound annual growth rate (CAGR) of -1.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $809.8 billion in 2023.

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The apparel market consists of sales of apparel by entities (organizations, sole traders and partnerships) that produce apparel. Apparel producers cut and sew (i.e., purchase fabric and cut and sew to make a garment) and/or produce garments by first knitting fabric and then cutting and sewing the fabric into a garment. The apparel manufacturing industry includes entities manufacturing full lines of ready-to-wear apparel and custom apparel: apparel contractors, performing cutting or sewing operations on materials owned by others; jobbers, performing entrepreneurial functions involved in apparel manufacturing; tailors, manufacturing custom garments for individual clients; and entities that combine knitting with the production of complete garments, but excluding producers of knitting fabric not combined with the produce of complete garments.

The growing awareness on the adverse effects of textile industry on environment is encouraging customers to opt for sustainable materials. Unlike natural materials, synthetic fibers take long time to decompose as they are made from petroleum products. Biological materials like spider silk are light and have tensile strength that are used in making garments. Some of the companies also started creating a decomposable synthetic version of spider silk. For example, Spiber Inc., a Japanese biomaterials specialist, was the first to produce artificial spider silk. The company uses genetically modified E.coli to produce the silk proteins which are used to produce silk fibers. Apparel manufacturing companies also have cameras linked to computers to detect the edge of a piece to carry out stitching, thus indicating high degree of automation in the apparel manufacturing industry.

Apparel Market Segmentation: -
By Type
Women's Wear
Men's Wear
Kids Wear

By Distribution Channel
Retail Stores
Online Stores

By Type of Fiber
Man-Made Fibers
Cotton Fibers
Animal Based Fibers
Vegetable Based Fibers

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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Apparel Market Characteristics
4. Apparel Market Product Analysis
5. Apparel Market Supply Chain
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21. Key Mergers And Acquisitions In The Apparel Market
22. Market Background: Apparel And Leather Products Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer

The report covers the trends and market dynamics of the Apparel Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Apparel Market are NIKE Inc; Adidas AG; VF Corporation; PVH Corp; Hanesbrands Inc.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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