Jul 23 , 2020
The global apparel market is predicted to grow at a healthy rate in the coming years. The apparel and fashion industry encompasses a wide variety of garments and uses almost all the textile manufactured. Broadly, the industry is divided into - clothing for men and boys, clothing for women and girls, and clothing for children.
The global apparel consumption market has arrived at using a bottom-up approach to estimate and validate the market size and related sub-markets. The global apparel industry was valued at $1,449.0 billion in 2018, registering a growth of 4.6 percent in comparison to the last year.
Growth of the global apparel market is expected to remain moderately strong, owing to increasing disposable income in middle-class people globally to shorten the fashion cycles.
During the forecast period 2020 and 2025, the market is estimated to grow at 4.8 percent to reach $ 2,006.4 billion, driven by strong growth in the Asia-Pacific market. The other significant factors driving the growth of the global apparel market are - growing population, rapid urbanization, and shift in the global economic power base.