Dublin, July 31, 2023 (GLOBE NEWSWIRE) -- The "Apparel Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The apparel industry is experiencing a boom, with the global market reaching $652.94 billion in 2023, up from $610.12 billion in 2022. This significant growth can be attributed to various factors, including the increasing demand for women's, men's, and kidswear worldwide.
The report showcases the main types of apparel dominating the market, namely women's wear, men's wear, and kids wear. Women's clothing, in particular, has been gaining immense popularity, catering to the diverse fashion preferences of women worldwide. The market also includes different types of fibers, such as man-made fibers, cotton fibers, animal-based fibers, and vegetable-based fibers, which offer a wide range of options for consumers seeking comfort and style.
One of the key drivers behind this surge is the increasing preference for online shopping. Manufacturers have embraced e-commerce platforms to reach a broader customer base, breaking free from the limitations of geographical constraints. This strategic move has allowed apparel producers to tap into new markets and increase their revenue streams significantly. Countries like India have experienced a boost in traditional garment sales due to the exposure provided by e-commerce portals, enabling weaving communities to showcase their products to a global audience.
Apparel manufacturing companies are also adopting cutting-edge technologies to boost efficiency and reduce operational costs. One of the remarkable innovations gaining traction is the investment in computer-controlled embroidery systems. These state-of-the-art sewing-embroidery machines are equipped with a computer-controlled system that allows for efficient and automated embroidery. These machines can create intricate designs on fabric from pre-programmed digital embroidery patterns, offering a wide array of fabric effects and artistic touches. Prominent companies such as Richpeace, ZojeDayu, Happy, Unix, and Damei are at the forefront of providing these high-tech solutions for the apparel industry.
Geographically, Western Europe has emerged as the largest region in the apparel market in 2022, while Asia-Pacific is anticipated to be the fastest-growing region in the forecast period. The report covers market data from various regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Additionally, the report encompasses insights from prominent apparel markets like Argentina, Australia, China, France, Germany, India, Japan, South Korea, the UK, the USA, and many others.
As the apparel market continues its upward trajectory, major players in the industry are poised for robust growth. Renowned companies such as Nike Inc., VF Corp, Adidas AG, Hanesbrands Inc., Levi Strauss & Co., Kering SA, Under Armour Inc., Mitsui, Berkshire Hathaway Inc., and Itochu Corp have been instrumental in driving the sector's expansion.
The Apparel Global Market Report 2023provides comprehensive insights into market trends, growth projections, and key market players. It analyzes the historical data and forecasts the market growth for the next ten years, enabling businesses to make informed decisions and capitalize on emerging opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $652.94 billion |
| Forecasted Market Value (USD) by 2027 | $830.69 billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Company Profiles:
- Nike Inc.
- VF Corp
- Adidas AG
- Hanesbrands Inc.
- Levi Strauss & Co.
- Kering SA
- Under Armour Inc.
- Mitsui
- Berkshire Hathaway Inc.
- Itochu Corp.
For more information about this report visit https://www.researchandmarkets.com/r/5cot2h
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