Apparel Market to Surpass USD 2,307.04 Billion by 2032, Growing at 3.52% CAGR

Explore the top apparel companies worldwide including Nike, Adidas, H&M, LVMH, and more. Discover industry leaders setting trends in fashion and sportswear.

INDIA, MAHARAHTRA, INDIA, February 20, 2025 /EINPresswire.com/ -- The global apparel market size was valued at USD 1,700.52 billion in 2023. The market is expected to expand from USD 1,749.67 billion in 2024 to USD 2,307.04 billion by 2032, exhibiting a CAGR of 3.52% over the study period. Asia Pacific dominated the apparel market with a market share of 40.44% in 2023.

The market is an extensive and dynamic sector, which entails a diverse array of products, from daily casual wear to high-end fashion. The evolution of consumer preferences and surging fast fashion is slated to impel the market growth. Moreover, the fast fashion model, which encompasses affordable pricing and rapid production cycles has brought a transformation in the dynamics of the clothing industry.

Fortune Business Insights™ provides this information in its research report, titled “Apparel Industry Share, Size, Growth, Global Report, and Forecast, 2024-2032”.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡𝐏𝐃𝐅: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/apparel-market-110718

➡️ 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐜𝐨𝐩𝐞:
Market Size Value in 2024: $1,749.67 Bn
Market Size Value By 2032: $2,307.04 Bn
Growth Rate: CAGR of 3.52% (2024-2032)
Base Year: 2023
Historical Data: 2019-2022
Years Considered for the Study: 2019-2032
No. of Report Pages: 170

➡️ 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Casual Wear/Fashion Wear Segment Led Due to Varying Consumers’ Lifestyles
In terms of type, the market is classified into casual wear/fashion wear, formal wear, swimwear, outerwear, sportswear & activewear, agricultural work clothing/farm apparel, work wear, ethnic wear, sleepwear, and others. The casual wear/fashion wear segment occupied the largest apparel market share in 2023 on account of variations in consumers’ lifestyles, which places more focus on utility and comfort.
Durable Nature of Synthetic Fiber to Impel Segment Growth

On the basis of material, the market is segmented into synthetic, cotton, wool, leather, denim, satin, and others. The synthetic segment secured the largest share in 2023, which can be credited to the rising prominence gained by synthetic fiber owing to its ease in printing and dyeing, quick-drying, wrinkle-resistant, durable, and versatile nature.

Surging Demand in the Female Fashion Industry to Spur Segment Expansion
With respect to end-user, the market is categorized into men, women, children, and unisex. The women segment is anticipated to witness the largest share during the forecast period, which can be attributed to rising demand in the female fashion industry as compared to men due to accessibility to a broad range of clothing collections, such as skirts, bralettes, scarves, shorts, leggings, skirts, dresses, and crop tops, among others.
Mass Segment Held a Leading Position Owing to Production of Garments in Various Designs

By category, the market for apparel is divided into mass/economy, premium, and luxury. The mass segment depicted the largest share in 2023 on account of the production of these garments in different designs and patterns with affordable pricing and shorter turnaround time, which leads to higher revenue generation.

Supermarkets & Hypermarkets Segment Dominates Driven by Face-to-face Interaction Provided by Brick-and-mortar Stores
In terms of distribution channel, the market is categorized into supermarkets & hypermarkets, specialty stores/branded stores, department stores, online/e-commerce, and others. The supermarkets & hypermarkets segment registered the largest share in 2023 due to face-to-face interaction offered by brick-and-mortar stores and offline retail formats, which deliver a more personalized experience.
On the regional front, the market for apparel is segregated into South America, Asia Pacific, the Middle East & Africa, North America, and Europe.

➡️ 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐌𝐞𝐧𝐭𝐢𝐨𝐧𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
• VF Corporation (U.S.)
• Burberry Group plc (U.K.)
• Puma SE (Germany)
• Adidas AG (Germany)
• Nike Inc. (U.S.)
• H&M Hennes & Mauritz AB (Sweden)
• LVMH (France)
• KERING (France)
• PVH Corp. (U.S.)
• Inditex (Spain)

➡️ 𝐀𝐬𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/apparel-market-110718

➡️ 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:

The report encompasses various driving and restraining factors affecting the market growth. In addition, it provides comprehensive coverage of the top trends, the COVID-19 pandemic impact, and significant industry developments. Other aspects of the report include the strategic moves adopted by top players to reinforce their industry position.

➡️ 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬:

Sustainability and Technological and Manufacturing Advancements to Propel Market Growth
Leading production companies are investing in cutting-edge technology to develop novel fabrics. This new-age fabric is developed in a way, which will influence customer’s purchasing patterns. A well-known example of this innovation is Nike’s Aerogami that improves breathability of athletes.
Despite such opportunities for apparel market growth, the rising competition from local brands focusing on affordable pricing may hamper the expansion of international companies.

➡️ 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

Asia Pacific Holds Leading Position Due to Rising Disposable Income
Asia Pacific registered the largest market share in 2023, which can be attributed to the surging middle-class population, number of working women professionals, participation of people in sports and other outdoor activities, and disposable income. The adoption of online shopping by a considerable number of young people is further resulting in a substantial surge in sales of garments by leading players including Shopee, Lazada, and Tokopedia.
Europe is witnessing rapid growth on account of transition in fashion trends, innovation in design and manufacturing techniques, growing e-commerce channels, and rising emphasis on sustainability.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞: https://www.fortunebusinessinsights.com/enquiry/get-a-quote/apparel-market-110718

➡️ 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

Major Companies Deploy Partnerships to Boost Their Position
The apparel market has a high fragmentation and competition, with the presence of a huge number of international and domestic companies. Market players are adopting various strategies such as acquisitions, product innovations, and capacity expansions. Partnership strategies are also being implemented by top companies to strengthen their position.

➡️ 𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:

February 2024: PUMA and PLEASURES unveiled the continuation of a collaborative deal with a new collection launch. Through this deal, the company announced the extension of its initial seasonal offering from 2023.

➡️ 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Streetwear Market Size, Share, Growth, Overview, Forecast, 2032
MICE Market Share, Trends, Industry Size, Analysis, Report, 2032

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions.

Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
sales@fortunebusinessinsights.com
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