Apparel Global Market Report 2023

Apparel refers to any clothing made of textiles created by weaving, knitting, or felting, in whole or in part, that is worn on a special occasion to build culture and create an aesthetic appearance in the home and on official occasions.

The main types of apparel are womens wear, mens wear and kids wear. Apparel made specifically for ladies is referred to as woman's clothing. The different types of fiber include man-made fibers, cotton fibers, animal-based fibers, vegetable-based fibers and is distributed through various channels such as retail stores, online stores.

The global apparel market grew from $610.12 billion in 2022 to $652.94 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The apparel market is expected to grow to $830.69 billion in 2027 at a CAGR of 6.2%.

The apparel market research report is one of a series of new reports that provides apparel market statistics, including apparel industry global market size, regional shares, competitors with a apparel market share, detailed apparel market segments, market trends and opportunities, and any further data you may need to thrive in the apparel industry. This apparel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The outbreak of Corona virus disease (COVID-19) has acted as a massive restraint on the apparel manufacturing market in 2022 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the apparel manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Apparel manufacturing companies are investing in computer-controlled embroidery systems to increase efficiency and reduce operating costs. These are sewing-embroidery machines equipped with a computer-controlled system, specifically engineered for efficient embroidery. This industrial and commercial equipment is capable of creating a design automatically on the fabric, from a pre-programmed digital embroidery pattern. There are single needle machines that require manual intervention for thread changing activity, and multi needle sewing-embroidery machines with multiple sewing heads, that require an input sequence for automatic color change. These machines can produce special fabric effects, chain stitch embroidery, sequins, appliqué, cutwork and many others, automatically with the help of inputs specified in digital format. These machines are capable of performing functions such as editing and loading designs, creating digitized design file, monitoring the entire embroidery process. Major Companies providing computerized embroidery machines for efficient apparel manufacturing are Richpeace, ZojeDayu, Happy, Unix, and Damei.

Western Europe was the largest region in the apparel market in 2022. Asia-Pacific was the second largest region in the apparel market. The regions covered in the apparel market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the apparel market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

Increasing demand for online shopping is expected to help the apparel manufacturing market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the apparel manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of traditional garments by giving larger exposure to producers who were confined to one geography where the weaving community was located.

The apparel market consists of sales of formal wear, casual wear, sportswear, plant-based fiber and synthetic fiber, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the apparel market include Nike Inc., VF Corp, Adidas AG, Hanesbrands Inc., Levi Strauss & Co., Kering SA, Under Armour Inc., Mitsui, Berkshire Hathaway Inc. and Itochu Corp.



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