Apparel Market Growth, Analysis Report, Share, Trends and Overview 2023-2029

The apparel industry comprises sales of apparel by entities (organizations and sole traders) that manufacture apparel. There are three main categories of apparel that include men's wear, women's wear, and kid's wear. Fashion shows such as Milan, London, Paris, Barcelona, New York, Rome, and Berlin are introducing new fashion trends for women as well as men globally. The global apparel industry market generated significant revenue in 2018 with a remarkable CAGR for the last few years.

The growth has resulted from the increasing demand from emerging markets. In addition, growth in the e-commerce industry and supportive government regulations on the manufacturing of apparel and clothing drove the global apparel industry. However, the recent outbreak of COVID-19 had a dual impact on the global apparel industry. The novel COVID-19 has impacted the apparel industry in most of the regions including North America, Europe, Asia-Pacific, and Rest of the World.

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Corona virus has gradually increased across the globe since it originated in the Wuhan City of China. Many European economies including Germany, France, Spain, and Italy which are experiencing a large number of cases with over 100,000 cases by the mid of March 2020. Moreover, many cities all across the globe are partial or total lock down for preventing the spread of the virus. It has created a negative impact on the apparel industry and caused brands and design houses to close down and postpone upcoming runway shows. Department store including Neiman Marcus, Macy's, Nordstrom, Selfridges, and Saks Fifth Avenue have shut their operations. In addition, major events such as the CFDA Awards and the Met Gala have been postponed indefinitely.

The prominent players studied in the global apparel industry include Nike Inc., Adidas AG, Ralph Lauren Corp., PVH Corp., VF Corp., and The TJX Companies Inc., among others. Due to the outbreak of the pandemic corona virus, the sales and revenue generation of these companies are largely affected as these players had to shut down their stores due to lock down. For instance, effective on March 19, the TJX Companies Inc. closed all of its stores in the US, Canada, Europe, and Australia for two weeks. In addition, the company is closing its online business, distribution centers, and offices. Moreover, after temporarily closing down its corporate headquarters in Beaverton, Oregon, Nike has now closed many of its retail stores across the US due to corona virus outbreak. The retail giant announced to shutter all of its stores in the US, Canada, Australia, Western Europe, and New Zealand for limiting the spread of corona virus. These stores will be closed through March 27.

Apparel Market- Segmentation

By Apparel Type

Men's Wear
Women's Wear
Kid's Wear

By Distribution Channel

Online Distribution Channel
Offline Distribution Channel
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Apparel Market- Segment by Region

North America

United States
Canada

Europe

Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Middle East & Africa
Latin America

Company Profiles

NIKE, Inc.
Adidas AG
PVH Corp.
VF Corp.
Hanesbrands Inc.
Ralph Lauren Corp.
Puma SE
The TJX Companies, Inc.
Under Armour, Inc.
Fila Holdings Corp

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