Readymade Garments Market Expected to Reach $1,268.3 Billion by 2027 | Louis Vuitton, Nike Inc., GAP, VF Corporation, H&M, Zara, Hanesbrands Inc., Under Armour, PVH Corporation, and Benetton Group

According to a new report published by Allied Market Research, titled, " Readymade Garment Market by Product Type, Application, Fabric Type, Age Group, Sales Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2027," The global readymade garments market size was valued at $983.7 billion in 2019, and is projected to reach $1,268.3 billion by 2027, registering a CAGR of 8.8% from 2021 to 2027. The outer clothing segment was the highest contributor to the market in 2019, and is estimated to grow at a CAGR of 8.8% during the forecast period. China and the U.S. were the prominent countries in the readymade garments market in 2019.

Readymade garments are mass-produced piece of clothing made in accordance to standard clothing sizes. The demand for readymade garment is expected to increase during the forecast period, owing to change in consumer’s product purchase pattern. In addition, surge in concern among individuals about physical appearance has increased the spending on toiletries and clothing, thus boosting the sale of various readymade clothing throughout the globe.

Ask for sample copy of this report >>> https://www.alliedmarketresearch.com/request-sample/7020

Furthermore, increase in frequency of direct to consumer advertisements and aggressive promotion by key players to push sales for clothing have significantly contributed toward the growth of the ready made garments market. However, negative impact of garment manufacturing on environment and rise in cases of labor exploitation hinder market growth. Conversely, surge in demand for, functional sports apparel is expected to provide opportunities for readymade garments market growth for the market expansion during the forecast period.

The report segments the readymade garments market based on product type, application, fabric type, age group, sales channel, and region. On the basis of product type, theready made garments market is categorized into inner clothing and outer clothing. The applications covered in the study include formal wear, sportswear, causal wear, safety apparel, and others. By fabric type, it is segregated into knit, woven, and nonwoven. Depending on the age group, it is fragmented into old adults, adults, kids, and toddler. As per sales channel, it is differentiated into supermarket & hypermarket, independent retail stores, specialty stores, e-commerce, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Get detailed COVID-19 impact analysis@ Request For Customization >>> https://www.alliedmarketresearch.com/request-for-customization/7020?reqfor=covid

By product type, the outer clothing segment was the highest contributor to the market, in 2019, and is estimated to grow at a CAGR of 8.8% during the forecast period. However, the inner clothing segment is expected to witness higher growth rate during the forecast.

Depending on readymade garments market forecast by application, the formal wear segment led the market in 2019, and is estimated to grow at a CAGR of 9.1% during the forecast period. However, the others segment is expected to witness higher growth rate during the forecast.

On the basis of readymade garments marketanalysis by fabric type, the woven segment exhibited the highest growth in 2019, and is estimated to register a CAGR of 9.1% during the forecast period. However, the non-woven segment is expected to witness a high growth rate of 8.6% during the forecast period.

As per the age group, the adult segment was the highest contributor to the market in 2019, and is estimated to grow at a CAGR of 9.1% during the forecast period. However, the kids segment is expected to witness a high growth rate of 9.4% during the forecast period.

If You Have Any Query, Ask Our Experts >>> https://www.alliedmarketresearch.com/purchase-enquiry/7020

According to sales channel, the supermarket/hypermarket segment dominated the market in 2019, and is estimated to exhibit a CAGR of 9.0% during the forecast period. However, the e-commerce segment is expected to witness higher growth rate during the forecast.

Region wise, Asia-Pacific was the highest contributor to the market in 2019, and is estimated to grow at a CAGR of 10.1% during the forecast period. LAMEA region is expected to witness high growth rate during the forecast period.

The key players in the readymade garments industry have relied on product launch and business expansion to remain relevant in globalreadymade garments market share. The key players profiled in the report include, Louis Vuitton, Nike Inc., GAP, VF Corporation, H&M, Zara, Hanesbrands Inc., Under Armour, PVH Corporation, and Benetton Group

Interested in Procuring this Report? Visit Here >>> https://www.alliedmarketresearch.com/purchase-enquiry/7020

Key Findings of the Study:

Outer clothing segment in the readymade garments market is projected to witness the highest CAGR of 8.8% in terms of revenue during the forecast period.
By application, the formal segment is expected to dominate the market in 2027.
Woven segment occupied the largest share in 2019, and is expected to grow at the significant CAGR during the forecast period.
China is the largest country in terms of demand and production of readymade garments in the readymade garments market.
E-commerce is anticipated to witness the highest growth rate, registering a notable CAGR from 2021 to 2027, in value terms.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.