Latest News- Apparel Market: Women is expected to lead the End-user segment during 2025-2029

The Apparel Market is being driven by Sustainability and ethical practices

The Apparel Market is expected to grow at a CAGR of 7.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 707.4 billion. The digital shift in apparel retailing has significantly revolutionized the industry, with online sales experiencing exponential growth. Consumers are now able to shop apparel from the comfort of their homes, benefiting from unparalleled convenience and flexibility. Online platforms offer around-the-clock access to extensive inventories, enabling customers to browse a vast selection of styles, sizes, colors, and brands, surpassing the limitations of physical stores. This convenience, coupled with the ability to shop at any hour, makes online apparel shopping particularly attractive to time-strapped individuals. Additionally, online retailers can maintain larger inventories due to the absence of physical space constraints, ensuring a diverse range of options for customers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Women
  • Men
  • Children
• Distribution Channel
  • Offline
  • Online
• Type
  • Mass
  • Premium
  • Luxury
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Sustainability and ethical practices
• Rising demand for exclusive designer collections
• Increased mergers and acquisitions among companies and retailers

However, the market also witnesses some limitations, which are as follows:

• Expanding presence of local and unorganized players
• Changes in trade policies
• Rising labor costs and fluctuating raw material prices

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Market Scope in Apparel Market Research Report

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Research Analysis Overview

In the dynamic apparel market, traditional garments coexist with e-commerce portals offering a wide range of women's apparel, including shirts, pants, skirts, suits, coats, and more. Luxury brands specializing in luxury wear dominate the scene, utilizing textile and fiber-based materials for weaving, knitting, and stitching, resulting in high-quality apparel, footwear items like heels, sneakers, and boots for adults and children. Yarns and fabrics are essential components in this industry, transforming into various clothing and accessories.

Market Research Overview

The global apparel, accessories, and luxury goods market encompasses businesses involved in the production and distribution of textiles, apparel, accessories, and luxury goods. This market segment includes entities offering rental services for these products, excluding manufacturers of footwear. Key growth drivers for this market include the expanding population of working women, whose increased disposable income is fueling higher consumer spending on apparel, accessories, and luxury goods. Additionally, the market is influenced by evolving fashion trends and the emergence of specialized needs, leading to the development of innovative designs in women's apparel and luxury wear. Online shopping and e-commerce portals have further expanded market reach, catering to both traditional garments and luxury brands.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/