Press release
Global Apparel Market: Emerging Trends, Dominant Players, Market Size and Impressive Growth Rate
Apparel Market
What Is The Projected Market Size Of The Global Apparel Market And Its Growth Rate?
The apparel market is all set to take a leap, extending beyond its present borders with steady growth.
• From $708.81 billion in 2024, the market is projected to rise to $766.62 billion in 2025, spurred by a compound annual growth rate (CAGR) of 8.2%.
• Expected to surge further, the market size is anticipated to reach a whopping $1012.31 billion in 2029 at a CAGR of 7.2%.
What Is Driving The Growth In The Apparel Market?
The apparel market enjoys an optimistic future with a surge in online shopping. The advent of e-commerce opened a global platform for manufacturers to showcase their products, increasing their customer base exponentially. For instance, traditional Indian garments saw an upswing in sales, thanks to the digital marketplaces that provided greater exposure to the weaving community that was earlier confined to a specific geography.
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Who Are the Key Players Driving Apparel Market Growth?
Bulwarks in the apparel market include:
• NIKE, Inc.
• Adidas AG
• PVH Corp.
• Christian Dior SE
• Hanesbrands Inc.
• VF Corporation
• Levi Strauss & Co.
• Kering S.A.
• Ralph Lauren Corporation
• Samsung C&T Corporation
• Uniqlo
What Are The Key Trends In The Apparel Market?
Key trends shaping the future of the apparel market are:
• Use of blockchain technology for a secure supply chain
• Intellectual property protection
• Application of artificial intelligence for prediction of trending patterns, colors, and styles
• Emphasis on recycling and upcycling for reducing wastage
What Are The Segments Of The Global Apparel Market?
The global apparel market takes shape around:
• Type: Women's Wear, Men's Wear, Kids Wear
• Fiber: Man-Made Fibers, Cotton Fibers, Animal-Based Fibers, Vegetable-Based Fibers
• Distribution Channel: Offline Sales, Online Sales
Which Region Leads The Apparel Market?
Leading the apparel market in 2024 was Western Europe, closely followed by Asia-Pacific. Covering a vast array of regions, the apparel market spreads across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Apparel Market Global Market Report?
- Market Size Analysis: Analyze the Apparel Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Apparel Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Apparel Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Apparel Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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