Latest News:- Apparel Manufacturing Market: Women apparel is expected to lead the Product segment during 2024-2028

Apparel Manufacturing Market to grow at a CAGR of 4.3% during 2024-2028

The Apparel Manufacturing Market is expected to grow at a CAGR of 4.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 119.2 billion. The global apparel manufacturing industry is experiencing a momentous transition towards sustainable and ethically produced fashion, fueled by escalating consumer consciousness and industry-led initiatives. Notably, on May 29, 2024, SU.RE (Sustainable Resolution), an initiative spearheaded by Reliance Brands, the United Nations India, the Ministry of Textiles, and the Clothing Manufacturers Association of India, unveiled a partnership with the British Council. This collaboration aims to empower SU.RE signatories in transforming into sustainable brands, fostering collaborations with partners in the UK, Denmark, and other regions. Launched in 2019, SU.RE represents the Indian apparel sector's most substantial voluntary commitment to sustainability, with 16 major brands pledging to establish eco-friendly supply chains by 2030. 

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The Women apparel subsegment is expected to dominate the Product segment during the forecast period 

Technavio analysts predict that the Women apparel subsegment will lead the Product segment during 2024 and 2028 The women's apparel market segment encompasses a vast and varied landscape, catering to an extensive range of styles and preferences. This segment comprises several categories, including formal wear, casual wear, activewear, and outerwear, each tailored to address the unique requirements of women in various situations and activities. On February 20, 2024, Pantaloons, a renowned brand under Aditya Birla Fashion, unveiled Honey Curvytude, a plus-size clothing line. This initiative emphasizes inclusivity and body positivity, empowering women to confidently celebrate their curves. The launch included the Inked in Ikat collection, featuring traditional Ikat weaves on loose, fusion-style dresses, which seamlessly blends cultural heritage with contemporary fashion trends.

Here are the various ways based on which the market is segmented: 

• Product
  • Women apparel
  • Men apparel
  • Children apparel
• Type
  • Casual wear
  • Formal wear
  • Sport wear
  • Night wear
• Geography
  • APAC
  • Europe
  • North America
  • Middle East and Africa
  • South America

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish growing e-commerce industry globally

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The apparel manufacturing market is experiencing significant shifts driven by various trends and technologies. Minimalist fashion and athleisure continue to dominate consumer preferences, leading to increased demand for simple, comfortable clothing. Online sales are surging, with women's apparel and children's apparel being popular categories. Digital marketing, social media, and Direct-to-Consumer (D2C) models are transforming advertising strategies. Luxury fashion is embracing technology, with artificial intelligence and 3D printing being used to create unique designs. Fast fashion brands are focusing on recycled fabrics, organic cotton, and eco-friendly materials to cater to the growing demand for sustainable clothing. Traditional ethnic attire is also gaining popularity, fueled by social media and a renewed appreciation for cultural diversity. Textile exports remain a significant contributor to the global economy, with fashion trends driving demand for innovative and high-quality textiles. Fashion preferences continue to evolve, with consumers increasingly seeking personalized and customized clothing. E-commerce platforms and online shopping are making it easier than ever to access the latest fashion trends and styles. Overall, the apparel manufacturing market is an exciting and dynamic space, driven by a combination of traditional and emerging trends and technologies.

Market Research Overview

The global apparel, accessories, and luxury goods market encompasses businesses involved in the manufacturing and marketing of textiles, apparel, accessories, and luxury goods on a global scale. This market scope extends to entities providing rental services for apparel, accessories, and luxury goods, excluding footwear manufacturers. According to Technavio, the market size is determined by the consolidated revenues of textiles, apparel, footwear, accessories, and luxury goods manufacturers and marketers. Key growth drivers for this market include the expanding population of working women, boosting disposable income and consumer spending on apparel, accessories, and luxury goods.

The Apparel Manufacturing Market is experiencing significant growth, fueled by the growing e-commerce industry globally. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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