Global Readymade Garments Market to Garner$1,268.3 Billion by 2027: Allied Market Research
Shankar Bhandalkar, Team Lead, Consumer Goodsat Allied Market Research, stated, “Rise in sports and fitness awareness and dynamic fashion trend and its influence over customers drive the growth of the global readymade garments market. However, negative impact on ecosystem hinders the market. On the contrary, advent of innovation apparel designs and growth of online retail platforms are expected to open lucrative opportunities for the market players in the future”.
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Covid-19 pandemic impact on the market:
• The Covid-19 outbreak and followed pandemic resulted in disrupted supply chain, lack of workers, and loss of employment, which negatively affected the industry.
• However, rise in adoption of online shopping portals to avoid physical contact supplemented the market growth.
The global readymade garments market is analyzed across several regions such as Europe, North America, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the market throughout the study period. Moreover, the region is expected to register the highest CAGR of 10.1% from 2021 to 2027.
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The global readymade garments market is segmented on the basis of product type, application, fabric type, age group, and sales channel.
Based on product type, the outer clothing segment is expected to maintain its dominance in terms of share during the forecast period. However, the inner clothing segment would register the highest CAGR of 10.0% from 2020 to 2027.
On the basis of sales channel, the e-commerce segment is expected to register the highest CAGR of 9.5% during the forecast period. However, the supermarket/hypermarket segment would hold the lion’s share through 2027.
The global readymade garments market report includes an in-depth analysis of the major market players such as Louis Vuitton, GAP, Nike Inc., H&M, VF Corporation, Hanesbrands Inc., Zara, PVH Corporation, Under Armour, and Benetton Group.
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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.
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