Women's Apparel Market Size, Demand & Growth Report ...
Women's Apparel Market Size, Demand & Growth Report ...
Womens Apparel Market Outlook ( to )
Global demand for womens apparel is estimated at a market value of US$ 863 billion in and is forecasted to climb to US$ 1,280 billion by -end, expanding at 4% CAGR over the next ten years ( to ).
Demand for womenswear is estimated to rise rapidly owing to the rising female population of the world and rising awareness regarding womens rights. More women are now more conscious about how they look or dress and surging focus on personal appearance and grooming among them is also projected to uplift global womens apparel sales going forward.
- Projections from the United Nations, point toward parity between males and females by the year as the sex ratio evens out in the coming years.
Expansion of the global womenswear market could be a result of the rise in promotional and marketing activities across the world. Different mediums of mass communication and social media are making telling contributions to promote womens wear. This is projected to augur well for the global womens wear market.
Aggressively increasing urbanization and industrialization could emerge as a powerful factor augmenting the demand in the global womens wear market. Manufacturers of womens wear are predicted to largely benefit from the increase in the size of the working women population as it could enable them to cater to a wider consumer base and also push sales of womens formal dresses.
Continuous innovation in textiles, evolving fashion trends, growing influence of celebrities and social influencers, and rising purchasing power of the general populous are other aspects that could also govern worldwide womens apparel shipments through .
Report Attributes Details Womens Apparel Market Size () US$ 863 Billion Projected Market Value (F) US$ 1,280 Billion Global Market Growth Rate ( to ) 4% CAGR Womens Apparel Sales Growth via Online Channels ( to ) 5% CAGR Key Companies Profiled- Benetton Group
- Hanes Australasia Limited
- The TJX Companies Inc.
- Esprit Holdings Limited
- Marks & Spencer Group plc
- Etam Development
- H&M Hennes & Mauritz AB
- Eroglu Holding
- Gap Inc.
- Arcadia Group
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How are Start-ups Redefining Womens Fashion?
Sustainability and Size Inclusivity Defining Future of Womens Clothing
Just like all other industries in the world, the fashion and clothing industry is also undergoing some major changes owing to a rising focus on sustainability. The growing number of awareness initiatives promoting body positivity, self-love, and inclusivity have influentially impacted womens clothing trends. New companies are also focusing on developing womens shoes and womens activewear as more and more women focus on their health and fitness and turn to exercise.
- aastey, an Indian womens clothing brand focused on providing athleisure clothing that is size-inclusive and sustainable has been making waves in the country. The company features its signature sustainable blends and has also invented 3 recycled polyester blends.
- Scarlett Gasque, a Canadian lingerie brand founded in , is seducing the world with its retro-styled lingerie and corsets. The founder and CEO of Scarlett, Chloe Rogers in revealed her plans to expand its brand in the United States marketplace.
Lingerie brands are no more just for models and skinny women as size inclusivity becomes a main selling point for many companies. Moreover, the increasing number of plus-size women embracing fashion trends is also creating new opportunities for incoming womens apparel suppliers.
While start-ups can make billions by bringing any type of innovative clothing to the womens section, womens lingerie and womens innerwear are areas where new companies have the potential to become giants if they play their cards right.
Case Study
- Dominance of Victorias Secret in the womens lingerie fashion space is known by all and Heidi Zak who went in as a customer to buy a bra from this renowned fashion brand, became the woman to identify the chink in Victorias Secrets armor to build a brand called ThirdLove. Heidis brand offers some of the best-fitting bras in the marketplace, thanks to product development supported by 600 billion data points that it collected from 11 billion women through an online questionnaire. Bringing in more than US$ 250 billion in , ThirdLove has proved that bringing in products that add value will never result in a loss.
Country-wise Insights
European and Asian countries are anticipated to lead global womens apparel sales and offer highly remunerative business opportunities for companies. Size inclusivity is a trend that is set to remain constant in all countries for womens apparel suppliers.
Why Should Womens Apparel Manufacturers Invest in India?
Cheap Manufacturing and Large Consumer Base Attracting Investments
India is one of the most prominent economies in the Asia Pacific region and its significance can be directly linked to the vast consumer base that it boasts of being the most populous country in the world. Growing urbanization and rising disposable income of people in this country are major catalysts propelling sales of womens apparel in the country.
Besides all of this, low labor costs and supportive government initiatives to promote manufacturing are also key prospects that are attracting womens apparel manufacturers. Womenswear start-ups in particular are seeing a bright growth scope in the country as they benefit from the Make in India initiative.
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- LetsDressUp, a start-up in India delivering custom-tailored dresses at doorstep has been benefitting from the rewarding consumer base of India. Addressing the lapses that trouble consumers and tailors, this start-up is changing the way customizable fashion works in India.
Which Trends are Prevalent in the United States Womens Apparel Market?
Diversity, Casualization of Fashion, and Inclusivity
The concept of inclusion of every body type, ethnicity, and mindset in womens fashion is of particular interest when it comes to the United States. America is a place where everyone goes to build their dreams and this has made it a country of many people from different backgrounds and cultures. Rising awareness regarding body positivity and diversity inclusion in the country is crucially shaping up not just the womens fashion industry but that of men as well.
Womens apparel suppliers looking to make a mark in this market should focus on coming up with clothing that meets the aforementioned standards. Womens plus size clothing, womens maternity clothing, and womens swimsuits are estimated to be popular products in the United States across the study period.
Why is Europe a Key Market for Womens Apparel?
Presence of Key Fashion Brands Such as Chanel, Dior, Louis Vuitton
Europe is home to two of the most popular fashion destinations in the world Paris and Milan. The aforementioned statement is more than enough to define the importance of European countries such as France, Italy, and the United Kingdom in the global womens fashion scene. The region is home to prestigious and luxurious fashion brands along with the best womens clothing stores and boutiques as well.
Increasing fashion awareness among women, a rising number of high-net-worth individuals, the presence of financially independent women, and the high availability of fashionable womens dresses, womens skirts, and womens accessories are other aspects that augment market growth in European countries through .
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Category-wise Insights
Investing in the development and manufacturing of womens tops and womens T-shirts and selling them online would be a popular strategy that womens apparel companies will adopt in the future.
Sales of Which Womens Apparel Account for Higher Market Share?
Demand for Womens Topwear Leading Revenue Generation
Womens topwear includes shirts, dresses, tops, t-shirts, etc., and sales of these products are estimated to lead global market revenue over the next ten years. Womens topwear is available in a variety that just might not be comprehensible in words, such as tank tops, crops, polos, ruffles, off-shoulder dresses, and wraps in a variety of patterns that can range from solids, florals, checks, polka dots, and much more.
The sheer amount of variety that womens topwear has is what is estimated to keep it at the top of revenue generation charts well beyond the study period. Mix and match of these varieties further create a demand trend that makes some of these products timeless and huge cash makers for womens apparel manufacturers.
Preference for Which Sales Channel is Expected to Continuously Rise?
Online Sales of Womens Apparel to Rise at Healthy Pace
The growing preference of millennials and Gen Z to shop from the comfort of their homes while availing attractive discounts are key prospects that are pushing womens apparel companies to opt for online sales channels. Increasing internet proliferation and the rapidly expanding e-commerce industry are also acting as catalysts for sales of womens apparel via online channels.
- Womens apparel demand through online channels is projected to rise at 5% CAGR over the next ten years.
Competitive Landscape
Leading womens apparel providers are collaborating to create unique clothing products and maximize their sales potential.
- In July , LoveShackFancy, an iconic denim brand collaborated with Gap, a leading clothing retail company to drop its new collection. The Gap x LoveShackFancy collection priced from US$ 13 to US$ 248, featured clothing and accessories for all family members including kids.
Know thy Competitors
Competitive landscape highlights only certain players
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Key Segments of Womens Apparel Industry Research
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By Category :
- Ethnic
- Innerwear
- Winterwear
- Sleepwear
- Tops/Shirts/T-Shirts
- Sportswear
- Trousers/Skirts
- Accessories
- Footwear
- Others
-
By Demographic :
- 18 to 25
- 26 to 35
- 36 to 45
- 46 to 55
- 56 to 65
- 66+
-
By Price :
- Economy
- Mid
- Premium
- Super-premium
-
By Sales Channel :
- Modern Trade
- Franchise Outlets
- Specialty Stores
- Online
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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