India Apparel & Footwear Market 2023 Business Segment Analysis: Understanding Key Segments for Targeted Growth 2031 | CAGR of 11.28%

Report Ocean released a thorough intelligence report named "India Apparel & Footwear Market" Report, Size, Share, Competitive Landscape, Technology, Latest Updates, and Forecasts to 2030. This research offers a thorough examination at the micro-level, concentrating on insurers, significant market sectors, products, and distribution methods within the Keyword industry.

The report's competitive segment provides a summary of competitors, their financial conditions, recent developments, competitive analysis, and market advancements. This study helps market participants find relevant prospects more effectively by looking at the strengths and weaknesses of key competitors.

Insights into the Market During the Forecast Period (from 2023 to 28), the India Apparel & Footwear Market is anticipated to expand at a CAGR of approximately 11.28 percent.

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Products for clothing and footwear are produced, distributed, and sold in the apparel and footwear industry. Clothing items like shirts, pants, dresses, jackets, and so on make up apparel. which range from fashionable and athletic wear to everyday casual wear. Products like shoes, sandals, boots, sneakers, and so on are all examples of footwear. that have been utilized for a long time to provide the feet with comfort and protection. Trends and fashion in the apparel and footwear industry are constantly shifting, requiring businesses to adapt quickly in order to remain relevant and satisfy customers.

A dynamic and ever-changing market, the sector is also heavily influenced by global economic conditions, consumer preferences, and technological advancements. The country's apparel and footwear industry experienced a rise in demand for sportswear and comfortable casual clothing during its history. In terms of comfortable casual clothing, athleisure remained popular in 2020 and 2021 due to the COVID-19 effect. Due to their habit of wearing clothing that is more comfortable, consumers were unwilling to return to their skinny or slim-fit jeans following the pandemic of 2021, despite an improvement in mobility.

As a result, there was a greater demand for occasion-based casual clothing made of stretchable and breathable materials that prioritized comfort. The reopening of sports and fitness centers that had been shut down during the lockdown backed up this trend. Therefore, demand for comfortable apparel and footwear, including sportswear, is experiencing an upsurge, further affecting the future market, as customers are becoming more health-conscious, particularly during and after the pandemic, in order to boost their immunity and maintain their fitness.

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Key driver: Market Dynamics Influence of Social Media on Consumer Purchase Patterns Social media played a significant role in the expansion of the apparel and footwear market in India over the past few years. As users spent more time on these social networking sites, they became more aware of them and used them as a great advertising tool. Most Brands like H&M (Hennes and Mauritz) India Pvt. Bata India Ltd., for example, have been actively adopting it to raise consumer awareness, resulting in a significant increase in their sales over time. By eliminating middlemen, these platforms enable businesses to directly communicate with their intended audience.

In addition, having a presence on these online platforms enables businesses to interact with their clients and receive product feedback. The majority of businesses, such as Lifestyle International Pvt. Ltd, Bata India Ltd., Paragon Gathering Ltd, and so on., to make sure they are present on these online platforms and keep up with consumer styling trends. As a result, sales of clothing and footwear are expected to rise across the nation in the coming years as a result of the increasing use of social media advertising and consumer preferences to follow celebrities.

Possible Limitation: Excessive Presence of Unorganized Players The national sales of organized players have been negatively impacted by the excessive presence of unorganized players in the market. In large part, this is because unorganized retailers in India have been selling their products at lower prices, making it hard for organized retailers to compete. In addition, the unorganized players frequently do not have to pay taxes or regulations, which results in higher profits but hurts the organized players and the market as a whole.

In addition, there has been an increase in the number of markets in India that sell footwear and apparel from unorganized players at lower prices. As a consequence of this, the unorganized sector has in the past stymied the expansion of the organized retail market and is likely to do so in the future as a result of increased competition for organized players.

Learning experience: The country's menswear market has shifted from ready-made clothing to custom-made clothing in recent years thanks to brands that offer custom-fit clothing. As more and more men who have been buying premium or extravagance instant dress longing to wear a shirt or some jeans that fit them precisely, the pattern of exceptionally fit garments is as of now restoring in India. Any item of clothing that has been altered to fit a customer based on their measurements and preferences is referred to as "custom-fit clothing."

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Luxury brands like Armani, Versace, Zegna, Cadini, and Canali, as well as premium brands like Raymond and Louis Philippe, offer made-to-measure services in India. In addition, high-end businesses like Creyate by Arvind Group have begun offering bespoke tailoring in order to take advantage of the rising demand for clothing that is tailored to the individual by Indian men. As a result, a significant opportunity for market expansion is anticipated to emerge in the years to come as a result of the resurgence of the custom-fit apparel trend and the growing presence of players in the sector.

Key Pattern: Increasing the Adoption of Sustainable Clothing by Consumers In recent years, India has seen a growing trend toward sustainable clothing. This can be attributed to consumer trends toward mindful and conscious consumption and rising environmental awareness. People are looking for products that are better for the environment as a result of the growing awareness of environmental issues. They are also becoming more aware of the impact that their choices have on the planet. In addition, the government has been a major force in the fashion and clothing industry's push for sustainability. In order to promote eco-friendly products, the government is encouraging businesses to adopt sustainable practices in their operations and supply chains through a variety of initiatives and policies.

Many businesses, including Future Group, Shoppers Stop, Aditya Birla Retail, Arvind Brands, Lifestyle, and others, are attempting to meet the needs of stakeholders and customers by implementing environmentally friendly methods in their operations and supply chains. As a result, the market expansion has been positively impacted by the growing trend toward sustainable clothing, which is fueled by environmental awareness, consumer trends, and government initiatives.

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Segmentation of the Market by Type:

In the past, the apparel and footwear category of the India apparel and footwear market experienced significant expansion. It is primarily responsible for the rise in demand for sportswear and comfortable casual clothing following COVID-19. In terms of comfortable casual clothing, athleisure saw continued strong demand in 2020 and 2021. Customers have been preferring comfortable clothing made of stretchable and breathable fabric, such as casual shirts/t-shirts, casual blazers, baggy jeans, straight-fit jeans, and chinos, even though the pandemic situation has stabilized and mobility has increased.

In addition, as disposable income has increased, consumers in India have been significantly engaging in leisure pursuits like fishing, rafting, motor boating, sailing, and other activities. These patterns have considerably raised the interest for agreeable attire like athletic apparel, relaxed shirts, pants, and so on. As a result, the market is expected to expand in the coming years due to increased demand for comfortable clothing and consumers' growing interest in leisure activities.

Based on the Channel of Distribution:

Grocery retailers, non-grocery specialists, mixed retailers, non-store retailing, direct selling, home shopping, e-commerce vending, and non-store retailing all saw significant growth in the market over time. Store-based retailing, on the other hand, benefited from the strong presence of organized players in this industry. Because malls provide a centralized and organized shopping experience, the development of mall culture in India has created a favorable environment for retail stores. In addition, over the course of the past few years, there has been a significant increase in the number of people who go to the mall for a unified shopping experience, particularly on weekends. This has prompted Go Fashion, Suta, and other businesses, to increase their retail sales in various regions by opening more stores across the nation. For example:

Go Fashion, an Indian apparel company, announced in 2022 that it would open 120-130 stores annually to expand its store footprint throughout India. This was mostly in line with activities to build the brand, which would increase exposure by opening more stores closer to customers.
Hereafter, the higher tendency of customers toward disconnected retail shopping, combined with the presence of countless retail outlets to ease availability, would essentially help in working on the development of the store-based retailing fragment in the India Clothing and Footwear market during the guage years.

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Recent Changes in the Indian Footwear and Apparel Market in 2022: Aditya Birla Fashion and Retail Limited bought a 51 percent stake in House of Masaba Lifestyle Private Limited to expand its product line and meet the fashion needs of young and digitally native customers.

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Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
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