LONDON--(BUSINESS WIRE)--The global fashion and apparel market is currently worth over USD 3 trillion, accounting for over 2% of the world’s total GDP. Many segments in this industry are experiencing healthy growth rates and will continue to grow further through 2020. Three of those healthy segments include sportswear, surgical apparel and online apparel retailing. Details about these three fast-growing apparel segments are some of this week’s hottest topics on BizVibe. BizVibe is the world’s smartest B2B marketplace and allows users to discover high quality leads, contact prospects, and source quotes. Register today to connect with over seven million companies around the globe.
Global sportswear market booming for 3rd year in a row
The global sportswear market reached USD 78 billion in 2016, representing an outstanding growth rate of nearly 7% for the third year in a row. Outselling almost all other fashion segments, the global sportswear market is estimated to generate about USD 165 billion sales in 2017.
As one of the most popular fashion trends, this growth is expected to continue, driven by growing health and leisure awareness, increasing disposable income and a surge in female participation in sports around the world.
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Surgical apparel demand soars due to healthcare and disease concerns
Surgical apparel products are experiencing an increase in demand within healthcare facilities for the protection of patients and healthcare workers. Outside of healthcare facilities, surgical apparel is increasingly being used to protect against germs and the threat of disease, which has seen an increase as of late due to the spread of vaccine-preventable diseases.
Recent public health crises and increasing worries about disease worldwide, such as the Ebola virus and the anti-vaccination movement are some of the main factors for driving the growth of the global surgical apparel market.
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Online apparel market enjoying rapid growth
The online apparel market is boosting sales of the global apparel industry due its rapid growth. In the US, online apparel sales rose from 11% of total US apparel sales to 19% between the years 2011-2016. However, the Asia-Pacific is currently the fastest-growing market and is expected to have the highest CAGR through to 2025.
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