Readymade garments are mass produced apparel, which are made from different fabric and yarn. These are finished products and are made according to different standard sizes. The readymade garment industry witnessed significant growth over the decade, as consumer income has grown and their affinity toward fashion has increased. Until the 21st century, Europe was the largest export of readymade garments, but from the early 2000s the production of readymade garments shifted to emerging countries such as India, Vietnam, Bangladesh, and China. This was done to reduce labor cost in production and make opportunities for jobs in this region.
The growth of the global readymade garment market is driven by changes in the consumer’s purchase pattern. Consumers presently have become concerned about how they look and present themselves, which has encouraged them to increase their spending on toiletries and clothing, thus augmenting the sale of readymade clothing throughout the globe. Moreover, aggressive advertisement and use of various forms of sales promotion by key players to push sales for clothing items have boosted the growth of readymade garments market, globally. However, negative impact of garment production on environment and cases of labor exploitation hinder market growth act as the major restraints of the global market. On the contrary, surge in demand for fashionable, trendy, and functional clothing option is expected to provide opportunities for growth for the readymade garment market.
The global readymade garment market has been segmented on product type, application, fabric type, age group, sales channel, and region. On the basis of product type the market is segregated into inner clothing and outer clothing. The applications covered in the study include formal wear, sportswear, causal wear, safety apparel, and others. Depending on fabric type, the market is segregated into knit, woven, and nonwoven. By age group, it is fragmented into old adults, adults, kids, and toddler. As per sales channel, it is differentiated into supermarket & hypermarket, independent retail stores, specialty stores, e-commerce, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the industry have relied on product launch and business expansion to remain relevant in global market. The key players profiled in the report include, Louis Vuitton, Nike Inc., GAP, VF Corporation, H&M, Zara, Hanesbrands Inc., Under Armour, PVH Corporation, and Benetton Group.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTATION
By Product Type
By Application
By Fabric Type
By Age Group
By Sales Channel
By Region
The growth of the global readymade garment market is driven by changes in the consumer’s purchase pattern. Consumers presently have become concerned about how they look and present themselves, which has encouraged them to increase their spending on toiletries and clothing, thus augmenting the sale of readymade clothing throughout the globe. Moreover, aggressive advertisement and use of various forms of sales promotion by key players to push sales for clothing items have boosted the growth of readymade garments market, globally. However, negative impact of garment production on environment and cases of labor exploitation hinder market growth act as the major restraints of the global market. On the contrary, surge in demand for fashionable, trendy, and functional clothing option is expected to provide opportunities for growth for the readymade garment market.
The global readymade garment market has been segmented on product type, application, fabric type, age group, sales channel, and region. On the basis of product type the market is segregated into inner clothing and outer clothing. The applications covered in the study include formal wear, sportswear, causal wear, safety apparel, and others. Depending on fabric type, the market is segregated into knit, woven, and nonwoven. By age group, it is fragmented into old adults, adults, kids, and toddler. As per sales channel, it is differentiated into supermarket & hypermarket, independent retail stores, specialty stores, e-commerce, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the industry have relied on product launch and business expansion to remain relevant in global market. The key players profiled in the report include, Louis Vuitton, Nike Inc., GAP, VF Corporation, H&M, Zara, Hanesbrands Inc., Under Armour, PVH Corporation, and Benetton Group.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing readymade garment market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the readymade garment industry.
KEY MARKET SEGMENTATION
By Product Type
- Outer Clothing
- Inner Clothing
By Application
- Formal Wear
- Sports Wear
- Casual Wear
- Safety Apparel
- Others
By Fabric Type
- Knit
- Woven
- Nonwoven
By Age Group
- Older Adult
- Adult
- Kids
- Toddler
By Sales Channel
- Supermarket & Hypermarket
- Independent Retail Stores
- Specialty Stores
- E-commerce
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- ASEAN
- Australia
- Rest of Asia-Pacific- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Readymade Garments Market, by Product Type
Chapter 5: Readymade Garments Market, by Application
Chapter 6: Readymade Garments Market, by Fabric Type
Chapter 7: Readymade Garments Market, by Age Group
Chapter 8: Readymade Garments Market, by Sales Channel
Chapter 9: Readymade Garments Market, by Region
Chapter 10: Company Profiles
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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