Apparel - Worldwide

  • Worldwide
  • In 2024, the revenue in the Apparel market worldwide is estimated to reach a staggering €1.64tn.
  • This market is projected to experience an annual growth rate of 2.78% between 2024 and 2028 (CAGR).
  • Among the various segments within the Apparel market, the largest one is Women's Apparel, which is anticipated to have a market volume of €0.86tn in 2024.
  • When comparing global revenue generated in the Apparel market, in the United States takes the lead with an estimated revenue of €328bn in 2024.
  • In terms of per capita revenue, the Apparel market is predicted to generate €211.10 per person in 2024, considering Worldwidewide population.
  • Looking ahead to 2028, the volume in the Apparel market is projected to reach 196.1bn pieces.
  • Additionally, there is an expected volume growth of 1.3% in 2025.
  • The average volume per person in the Apparel market is estimated to be 24.1pieces in 2024.
  • Furthermore, it is anticipated that 95% of the sales in the Apparel market by 2024 will be attributed to Non-Luxury.
  • The apparel market in China is experiencing a surge in demand for luxury brands, with consumers willing to pay premium prices for high-quality products.

Key regions: United States, Philippines, India, Europe, Germany

 
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Región
 
Comparación de regiones
 
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Analyst Opinion

While Greater China almost overtakes the U.S. as largest fashion market in the world, key economic indicators create a more cautious mood for the global fashion industry potentially slowing down by 2020. For companies it is crucial to prepare plans to address a possible transformation of global value chains emerging by new opportunities from global consumer spending shifting towards emerging economies as well as trade tensions and uncertainties. A leverage point could be to take a strong position on social and environmental issues, as this is very much demanded by the younger generation.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

Visión general

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Key Players
  • Volume
  • Price
  • Global Comparison
  • Methodology
  • Key Market Indicators
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