DUBLIN--(BUSINESS WIRE)--The "Global Apparel Market - Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
Global apparel market is anticipated to grow at a CAGR of 5.5% during the forecasted period (2020-2025). Rising per capita income, favourable demographics and a shift in preference to branded products is projected to drive the demand for the market.
The adoption of luxury lifestyle among consumers has influenced the purchasing power to opt for luxury wears among millennial. The increasing fashion trends coupled with evolving retail landscape across brands have been the key factor for the booming apparel market despite being a matured market.
As competition is steep, apparel companies often create alliances to present a stronger front. Successful advertising strategies, as well as concentration in specialized markets help in allowing apparel companies to generate increased revenue.
- PVH Corp.
- Kering S.A.
- Aditya Birla Group
- Hennes & Mauritz AB
- Nike, Inc.
Key Market Trends
Growing Inclination Towards Online Sales
Online apparel sales have seen a boom in recent years as consumers have gradually become more comfortable making wardrobe purchases from their computers and hand held devices. The growth in online apparel sales is mainly attributed by the web-only startups. A boosted exposure to internet and e-commerce has improved the fashion consciousness and availability of high-end brands and limited edition products. Using influencers has made an impact on how beauty companies market their products and look to increase sales. With 71% of social media marketers reporting they have an influencer marketing budget, it's clear to see that marketers are finding value in influencers.
North America Holds A Prominent Share
North America is among the major markets for apparels. Canadian apparel manufacturing firms have increasingly moved towards niche markets, designing and producing high-end clothing, as well as speciality and high R&D garments including performance apparel such as sportswear and protective clothing. Some large firms that have off-shored their apparel production to control costs are also operating short run and replenishment facilities in the region in order to respond to fast changing trends in the retail industry, and to produce high-end apparel. To remain competitive on the global market, leading apparel manufacturers are adopting new technologies and automation throughout the supply chain. Digital technology adoption is increasing in the sector, which includes the development of an omnichannel or multichannel approach to sales.
Key Topics Covered:
1.1 Study Deliverables & Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By End-User Industry
5.2 By Product Type
5.2.1 Formal Wear
5.2.2 Casual Wear
5.2.3 Sports Wear
5.2.4 Night Wear
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 South America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/cmuvo0