The retail apparel industry is one of the most dynamic and competitive sectors in the global economy. As technology continues to evolve, the apparel industry is constantly changing and adapting to meet the needs of consumers.
In order to stay ahead of the competition, it is important to stay up to date on the latest trends and statistics in the retail apparel industry. In this blog post, we will explore some of the most important retail apparel industry statistics and how they can help you stay informed and competitive. We will also discuss how these statistics can be used to inform your business decisions and strategies.
Retail Apparel Industry: Most Important Statistics
The apparel market size in France was €41.9 billion in 2021 and is expected to grow at a CAGR of more than 3% by 2026, with significant growth in children's clothing.
The global market for trousers is estimated to reach US$198.1 Billion by 2030, growing at a CAGR of 7.6%.
Retail Apparel Industry: Statistics Overview
The global apparel market grew by 7.0% from 2022 to 2023 and is expected to grow to $830.69 billion by 2027 at a CAGR of 6.2%.
This indicates a positive trend in consumer demand for apparel products and services. The increasing demand for online shopping is also expected to help the apparel manufacturing market grow, which is beneficial for the industry as a whole.
The Apparel market is expected to reach US$1.74 trillion in 2023, with annual growth of 2.84% and volume of 193.90 billion pieces by 2027, with 95% of sales attributed to Non-Luxury goods.
This provides an overview of the current and projected size of the Apparel market, as well as the expected growth rate and the proportion of sales attributed to Non-Luxury goods. This information can be used to inform strategic decisions and investments in the Apparel industry.
The Apparel market is expected to reach US$40.67bn in 2023, with a growth rate of 1.04%, and the largest segment being Women's Apparel. 88% of sales in the Apparel market will be Non-Luxury goods.
This information can help retailers to make informed decisions about their product offerings and marketing strategies.
The apparel market size in France was €41.9 billion in 2021 and is expected to grow at a CAGR of more than 3% by 2026, with significant growth in children's clothing.
This provides insight into the size of the apparel market in France and its projected growth. It also highlights the importance of children's clothing within the apparel market, which can help retailers better understand the needs of their customers and make informed decisions about their product offerings.
The Women's Apparel segment is expected to reach US$901.10 billion in 2023, growing annually by 2.89%, and 79.62 billion pieces by 2027 with a volume growth of 1.5% in 2024.
This provides insight into the current and future market size of the Women's Apparel segment, as well as the expected growth rate of the segment. This information can be used to inform strategic decisions and investments in the Women's Apparel segment.
The global women apparel market size is expected to reach US$ 1,207.4 billion by 2028, exhibiting a CAGR of 3.8%.
This shows the potential for growth in the women's apparel market, which is being driven by the rising influence of e-commerce platforms. This growth could lead to increased sales and profits for retailers in the industry.
The Men's Apparel segment is expected to generate US$568.90bn in 2023 and grow annually by 2.95%, with the US leading the market with US$110.90bn.
This provides an indication of the size and growth of the Men's Apparel segment. It also provides insight into the leading markets for the segment, which can help inform strategies for targeting and expanding into those markets.
The global market for trousers is estimated to reach US$198.1 Billion by 2030, growing at a CAGR of 7.6%.
This shows the potential growth of the retail apparel industry in the coming years. This growth is expected to be driven by increased consumer demand for trousers, which is indicative of the overall health of the industry. This statistic is important for retailers to understand in order to plan their strategies accordingly.
The global kids apparel market size was valued at USD 172.52 billion in 2021 and is expected to grow at a CAGR of 6.8% from 2022 to 2029, despite being negatively affected by the COVID-19 pandemic.
The market is expected to grow despite the pandemic, and that the demand for branded clothes is expected to fuel the product adoption. This indicates that the industry is resilient and that there is potential for growth in the future.
In 2023, the Children's Apparel market is estimated to generate US$267.50bn in revenue, with the US contributing US$53.14bn, and is expected to grow by 2.46% annually with a volume of 70.67 billion pieces by 2027.
This provides a snapshot of the current market size and growth rate of the Children's Apparel sector, which can be used to inform strategic decisions and investments. It also provides insight into the geographical breakdown of the sector, allowing retailers to identify potential markets for expansion.
Conclusion
In conclusion, the retail apparel industry is a highly competitive and ever-changing market. With the rise of e-commerce and the emergence of new technologies, the industry is constantly evolving.
As the industry continues to grow, it is important for retailers to stay up-to-date on the latest trends and statistics in order to remain competitive. By understanding the current state of the industry, retailers can make informed decisions that will help them succeed in the future.
References
1 - https://www.thebusinessresearchcompany.com/report/apparel-global-market-report
2 - https://www.statista.com/outlook/cmo/apparel/worldwide
3 - https://www.statista.com/outlook/cmo/apparel/france#:~:text=Revenue%20in%20the%20Apparel%20market,US%2422.44bn%20in%202023
4 - https://www.globaldata.com/store/report/france-apparel-market-trend-analysis/
5 - https://www.statista.com/outlook/cmo/apparel/women-s-apparel/worldwide#:~:text=Revenue%20in%20the%20Women%27s%20Apparel,%24117.30%20are%20generated%20in%202023.
6 - https://www.researchandmarkets.com/reports/5742971/women-apparel-market-global-industry-trends
7 - https://www.statista.com/outlook/cmo/apparel/men-s-apparel/worldwide#:~:text=Revenue%20in%20the%20Men%27s%20Apparel,43.64bn%20pieces%20by%202027.
8 - https://www.marketresearch.com/Global-Industry-Analysts-v1039/Men-Apparel-33699668/
9 - https://www.globenewswire.com/news-release/2022/12/15/2574446/0/en/Kids-Apparel-Market-to-Hit-USD-296-85-Billion-by-2029-Industry-to-Generate-6-8-CAGR-during-2022-2029.html#:~:text=15%2C%202022%20(GLOBE%20NEWSWIRE),6.8%25%20during%20the%20forecast%20period.
10 - https://www.statista.com/outlook/cmo/apparel/children-s-apparel/worldwide#:~:text=Revenue%20in%20the%20Children%27s%20Apparel,%2434.82%20are%20generated%20in%202023.
