Apparel Market Size To Reach $2,263.98 Billion By 2030

Apparel Market Growth & Trends

The global apparel market size is anticipated to reach USD 2,263.98 billion by 2030 and is projected to grow at a CAGR of 4.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. As consumers are becoming aware of the social and environmental impact of apparel industry they are increasingly opting for eco-friendly and sustainable apparel. This has led to a surge in demand for clothing that's produced sustainably and ethically, using materials like recycled fabrics, organic cotton, and other eco-friendly alternatives. Consumers are pushing for brands to reduce waste, adopt transparent supply chains, and ensure fair labor practices. Moreover, sustainability is essential for businesses as well as it helps lessen their environmental impact and contributes to a more sustainable future.

In recent years, a significant surge in D2C brands has been observed in the apparel industry. These companies bypass traditional channels such as retailers and wholesalers and sell their products directly to consumers. In addition, the prevalence of e-commerce and other digital platforms is increasing resulting in market growth. D2C brands offer enhanced consumer experience, personalized products, and competitive product pricing, owing to which inclination of consumers towards these brands is increasing thus surging the market growth.

Mass apparel dominated the global market in 2023. Fast fashion drives constant production of new designs and patterns resulting in frequent visits to stores by consumers and making more purchases. Retailers regularly swap sold-out items with new arrivals, ensuring shoppers have prompt access to desired clothing. Mass clothing is more accessible, offering innovative and stylish options. In addition, mass apparel is affordable and provides easy access to trendy garments, catering to a broader range of consumers.

The women segment accounted for the largest share of the market. The female fashion industry is witnessing a surge in demand for new trends and a wide range of options. Women's fashion commands higher demand compared to men's due to its extensive variety, encompassing skirts, dresses, blouses, and accessories. This high demand leads designers and retailers to prioritize female fashion, catering to the ever-changing preferences of consumers. Furthermore, the vast diversity within women's fashion, ranging from casual wear to haute couture, encourages continuous innovation and adaptation to evolving tastes and preferences.

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Apparel Market Report Highlights

• Based on category, the luxury segment is expected to grow at the fastest CAGR of 5.5% from 2024 to 2030. The popularity of luxury apparel is increasing among millennials which is driving the segment’s growth

• Based on end-user, the children segment is expected to grow at the fastest CAGR of 5.9% from 2024 to 2030. The increasing demand for premium clothing among new parents is driving the market growth

• Based on distribution channel, the online segment is expected to grow at the fastest CAGR of 6.3% from 2024 to 2030. Surge in use of online channels among consumers owing to various features such as convenience, discounts, and others is driving the segment’s growth

• Asia Pacific market is expected to grow at the fastest CAGR of 5.1% from 2024 to 2030. The rising trend of minimalist fashion among consumers in the region is likely to drive the market growth

Apparel Market Segmentation

Grand View Research has segmented the global apparel market report based on category, end-user, distribution channel, and region.

Apparel Category Outlook (Revenue, USD Million, 2018 - 2030)

• Mass

• Premium

• Luxury

Apparel End-user Outlook (Revenue, USD Million, 2018 - 2030)

• Men

  • Casual Wear

  • Formal Wear

  • Sportswear

  • Night Wear

  • Inner Wear

  • Ethnic Wear

  • Others

• Women

  • Casual Wear

  • Formal Wear

  • Sportswear

  • Night Wear

  • Inner Wear

  • Ethnic Wear

  • Others

• Children

  • Casual Wear

  • Formal Wear

  • Sportswear

  • Night Wear

  • Inner Wear

  • Ethnic Wear

  • Others

Apparel Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Online

• Offline

  • Hypermarkets & Supermarkets

  • Clothing Stores

  • Others

Apparel Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Australia & New Zealand

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in the Apparel Market

• VF Corporation

• Burberry Group plc

• Puma SE

• Adidas AG

• Nike Inc.

• H&M Hennes & Mauritz AB

• LVMH

• KERING

• PVH Corp.

• Inditex