Expert Market Research’s new report, titled “Global ready-made clothing market Report and Forecast 2022-2027′, provides an in-depth analysis of the global ready-to-wear apparel market and evaluates the market based on its segments such as product type, application, fabric type, gender and distribution channel. The report tracks the latest trends in the industry and examines their impact on the overall market. It also assesses the market dynamics, covers the main demand and price indicators and analyzes the market based on the SWOT and Porter Five Forces models.
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Key highlights of the report include:
Market overview (2017-2027)
• Forecast CAGR (2022-2027): 8.70%
The formal wear segment has experienced moderate growth based on application over the historical period. Because formal wear mixes decency and professionalism into attire, it is in high demand in the business world. Due to the growing preference for comfortable clothing options, especially after the COVID-19 epidemic, and the spread of the work-from-home culture, the casual wear sector is expected to account for a large market share throughout the projection period. This is expected to have a significant impact on the growth of the overall market. Due to the growing popularity of many e-commerce websites that offer a variety of alternatives combined with great discounts, the online segment is expected to grow rapidly over the forecast period. The websites’ cash on delivery option has proven to be convenient for the customers and should help the segment to develop further. Meanwhile, due to increasing urbanization and the creation of shopping malls, especially in developing countries, the supermarket and hypermarket category is expected to account for a large percentage of the market.
Industry definition and main segments
A ready-made garment is a finished textile product and consists of different fabrics and yarns. The properties of ready-made garments depend entirely on the type of fabric used.
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Based on product type, the market can be roughly segmented into:
• Inner clothing
Based on its application segments, the ready-to-wear clothing market can be broadly segmented into:
• Formal dress
• casual wear
• Safety clothing
Market Segmentation by Fabric Type:
On the basis of gender the market can be segmented into:
On the basis of distribution channel, the market has been segmented into:
• Supermarket and convenience store
• Independent Retail Stores
• Specialty shops
On the basis of region, the market can be segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Due to constantly changing fashion trends, the global ready-to-wear business is driven by the emerging fashion and clothing sector. Changing fashion trends and the availability of attractive and diverse outfits, including sustainable clothing options, are expected to positively impact the market over the projection period. In addition, active advertising and promotional activities by well-known fashion labels are likely to boost market growth even further. Meanwhile, e-commerce industry is expected to support the market expansion over the forecast period, owing to rising consumer desire for easier purchasing decisions. Ecommerce platforms offer advantages like price comparison and cash on delivery options, as well as diversification and enticing offers for numerous brands, all of which help to increase product sales online.
Important market participants
The major players in the market are Louis Vuitton Malletier SAS, Nike, Inc., The Gap, Inc., VF Corporation, Hennes & Mauritz AB, Zara, Hanesbrands Inc., others. The report covers the market shares, capacities, asset turnover, expansions, investments and mergers and acquisitions among other latest developments of these market players.
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