Product Code: GVR-4-68040-264-7
Apparel Market Growth & Trends:
The global apparel market size is anticipated to reach USD 2,263.98 billion by 2030 and is projected to grow at a CAGR of 4.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. As consumers are becoming aware of the social and environmental impact of apparel industry they are increasingly opting for eco-friendly and sustainable apparel. This has led to a surge in demand for clothing that's produced sustainably and ethically, using materials like recycled fabrics, organic cotton, and other eco-friendly alternatives. Consumers are pushing for brands to reduce waste, adopt transparent supply chains, and ensure fair labor practices. Moreover, sustainability is essential for businesses as well as it helps lessen their environmental impact and contributes to a more sustainable future.
In recent years, a significant surge in D2C brands has been observed in the apparel industry. These companies bypass traditional channels such as retailers and wholesalers and sell their products directly to consumers. In addition, the prevalence of e-commerce and other digital platforms is increasing resulting in market growth. D2C brands offer enhanced consumer experience, personalized products, and competitive product pricing, owing to which inclination of consumers towards these brands is increasing thus surging the market growth.
Mass apparel dominated the global market in 2023. Fast fashion drives constant production of new designs and patterns resulting in frequent visits to stores by consumers and making more purchases. Retailers regularly swap sold-out items with new arrivals, ensuring shoppers have prompt access to desired clothing. Mass clothing is more accessible, offering innovative and stylish options. In addition, mass apparel is affordable and provides easy access to trendy garments, catering to a broader range of consumers.
The women segment accounted for the largest share of the market. The female fashion industry is witnessing a surge in demand for new trends and a wide range of options. Women's fashion commands higher demand compared to men's due to its extensive variety, encompassing skirts, dresses, blouses, and accessories. This high demand leads designers and retailers to prioritize female fashion, catering to the ever-changing preferences of consumers. Furthermore, the vast diversity within women's fashion, ranging from casual wear to haute couture, encourages continuous innovation and adaptation to evolving tastes and preferences.
Apparel Market Report Highlights:
- Based on category, the luxury segment is expected to grow at the fastest CAGR of 5.5% from 2024 to 2030. The popularity of luxury apparel is increasing among millennials which is driving the segment's growth
- Based on end-user, the children segment is expected to grow at the fastest CAGR of 5.9% from 2024 to 2030. The increasing demand for premium clothing among new parents is driving the market growth
- Based on distribution channel, the online segment is expected to grow at the fastest CAGR of 6.3% from 2024 to 2030. Surge in use of online channels among consumers owing to various features such as convenience, discounts, and others is driving the segment's growth
- Asia Pacific market is expected to grow at the fastest CAGR of 5.1% from 2024 to 2030. The rising trend of minimalist fashion among consumers in the region is likely to drive the market growth
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Category Snapshot
- 2.3. End-user Snapshot
- 2.4. Distribution Channel Snapshot
- 2.5. Competitive Landscape Snapshot
Chapter 3. Apparel Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Raw Material Outlook
- 3.3.2. Manufacturing and Technology Trends
- 3.3.3. Profit Margin Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Driver Impact Analysis
- 3.4.2. Market Restraint Impact Analysis
- 3.4.3. Industry Opportunities
- 3.4.4. Industry Challenges
- 3.5. Industry Analysis - Porter's Five Forces Analysis
- 3.6. Market Entry Strategies
Chapter 4. Apparel Market: Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends & Preferences
- 4.3. Factors Affecting Buying Decision
- 4.4. Consumer Category Adoption
- 4.5. Observations & Recommendations
Chapter 5. Apparel Market: Category Estimates & Trend Analysis
- 5.1. Category Movement Analysis & Market Share, 2023 & 2030
- 5.2. Mass
- 5.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 5.3. Premium
- 5.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 5.4. Luxury
- 5.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 6. Apparel Market: End-user Estimates & Trend Analysis
- 6.1. End-user Movement Analysis & Market Share, 2023 & 2030
- 6.2. Men
- 6.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.2. Casual Wear
- 6.2.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.3. Formal Wear
- 6.2.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.4. Sportswear
- 6.2.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.5. Night Wear
- 6.2.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.6. Inner Wear
- 6.2.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.7. Ethnic Wear
- 6.2.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.2.8. Others
- 6.2.8.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3. Women
- 6.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.2. Casual Wear
- 6.3.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.3. Formal Wear
- 6.3.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.4. Sportswear
- 6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.5. Night Wear
- 6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.6. Inner Wear
- 6.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.7. Ethnic Wear
- 6.3.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.3.8. Others
- 6.3.8.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4. Children
- 6.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.2. Casual Wear
- 6.4.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.3. Formal Wear
- 6.4.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.4. Sportswear
- 6.4.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.5. Night Wear
- 6.4.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.6. Inner Wear
- 6.4.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.7. Ethnic Wear
- 6.4.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 6.4.8. Others
- 6.4.8.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 7. Apparel Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. Key country dynamics
- 7.2.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Key country dynamics
- 7.2.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
- 7.2.4.1. Key country dynamics
- 7.2.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.2. UK
- 7.3.2.1. Key country dynamics
- 7.3.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Key country dynamics
- 7.3.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. Key country dynamics
- 7.3.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.5. Italy
- 7.3.5.1. Key country dynamics
- 7.3.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.3.6. Spain
- 7.3.6.1. Key country dynamics
- 7.3.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4.2. China
- 7.4.2.1. Key country dynamics
- 7.4.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4.3. Japan
- 7.4.3.1. Key country dynamics
- 7.4.3.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4.4. India
- 7.4.4.1. Key country dynamics
- 7.4.4.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4.5. Australia & New Zealand
- 7.4.5.1. Key country dynamics
- 7.4.5.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.4.6. South Korea
- 7.4.6.1. Key country dynamics
- 7.4.6.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.5. Central & South America
- 7.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.6. Middle East & Africa
- 7.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.6.2. South Africa
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8. Competitive Analysis
- 8.1. Recent Developments & Impact Analysis, by Key Market Participants
- 8.2. Company Categorization
- 8.3. Participant's Overview
- 8.4. Financial Performance
- 8.5. Category Benchmarking
- 8.6. Company Market Share Analysis, 2023 (%)
- 8.7. Company Heat Map Analysis
- 8.8. Strategy Mapping
- 8.9. Company Profiles
- 8.9.1. VF Corporation
- 8.9.1.1. Company Overview
- 8.9.1.2. Financial Performance
- 8.9.1.3. Category Portfolios
- 8.9.1.4. Strategic Initiatives
- 8.9.2. Burberry Group plc
- 8.9.2.1. Company Overview
- 8.9.2.2. Financial Performance
- 8.9.2.3. Category Portfolios
- 8.9.2.4. Strategic Initiatives
- 8.9.3. Puma SE
- 8.9.3.1. Company Overview
- 8.9.3.2. Financial Performance
- 8.9.3.3. Category Portfolios
- 8.9.3.4. Strategic Initiatives
- 8.9.4. Adidas AG
- 8.9.4.1. Company Overview
- 8.9.4.2. Financial Performance
- 8.9.4.3. Category Portfolios
- 8.9.4.4. Strategic Initiatives
- 8.9.5. Nike Inc.
- 8.9.5.1. Company Overview
- 8.9.5.2. Financial Performance
- 8.9.5.3. Category Portfolios
- 8.9.5.4. Strategic Initiatives
- 8.9.6. H&M Hennes & Mauritz AB
- 8.9.6.1. Company Overview
- 8.9.6.2. Financial Performance
- 8.9.6.3. Category Portfolios
- 8.9.6.4. Strategic Initiatives
- 8.9.7. LVMH
- 8.9.7.1. Company Overview
- 8.9.7.2. Financial Performance
- 8.9.7.3. Category Portfolios
- 8.9.7.4. Strategic Initiatives
- 8.9.8. KERING
- 8.9.8.1. Company Overview
- 8.9.8.2. Financial Performance
- 8.9.8.3. Category Portfolios
- 8.9.8.4. Strategic Initiatives
- 8.9.9. PVH Corp.
- 8.9.9.1. Company Overview
- 8.9.9.2. Financial Performance
- 8.9.9.3. Category Portfolios
- 8.9.9.4. Strategic Initiatives
- 8.9.10. Inditex
- 8.9.10.1. Company Overview
- 8.9.10.2. Financial Performance
- 8.9.10.3. Category Portfolios
- 8.9.10.4. Strategic Initiatives