The United States fashion industry is valued at approximately $369.39 billion. The U.S. athletic apparel market is the largest in the world. Among the largest firms in the Sri Lanka apparel industry, employing about 100,000 people, is MAS, which is a supplier to Gap, Marks and Spencer, Nike and Victoria's Secret, among others. With consumption at a standstill and stockpiles in warehouses, business objectives have shifted to liquidation tactics and . Share of Indian Apparel market. All things considered, we expect fashion-industry growth will increase to 2.5 to 3.5 percent in 2017, although the days when the . By the mid-90's, the apparel sector had become firmly established as one of Korea's most important, with over 15% growth per year, and sales . These reports are designed to provide a wholistic view of the global Apparel Retailing industry. Sequentially cumulative Revenue fell by -1.9 %. The textile industry in Sri Lanka annually exports garments worth almost $2.2 billion to the United States, $900 million to the United Kingdom, worth $350 million to Italy, and garments . In 2018, the men end user segment accounted for more than half of the share in the total sports apparel market, and is expected to grow at a CAGR of 4.6% throughout the forecast period. The industry's rapid growth is not devoid of the current global clothing trends. Back in the 20th Century, athletes and . The report outlines the market size, market characteristics, and market growth for Basketball Apparel industry, categorized by type, application, and consumer sector. (McKinsey) #4. 5%. However, the apparel market has rebounded and returned to its growth path. Clothing manufacturers in Bangladesh are leading the economic growth in the country. The Indian apparel market stood at US$ 40 billion in 2020 and is expected to reach US$ 135 billion by 2025. With the increase in Korea's GNP by the 1980's, and more women entering the workforce, this industry had developed into one which had begun to offer its customers increased choice in styles and fashions. The RMG sector, coupled with other clothing exports accounts for up to 81% of the country's export earnings, and the rapidly growing apparel industry contributes up to 20% to Bangladesh's GDP, more than any other secondary industry sector. In addition, it provides a . The COVID 19 pandemic adversely affected many industries worldwide, and the apparel industry is one of them. The material shortages, transportation bottlenecks, and rising shipping costs have caused inflationary pressures. From 2021 onwards, total revenues from the industry are expected to grow year-over-year. The global surgical apparel market was worth around USD 3248 million in 2021 and is estimated to grow to about USD 4555 million by 2028, with a compound annual growth rate (CAGR) of approximately . Estimated production stood at 362.18 lakh bales during cotton season 2021-22. Growth of the Industry: Apparel industry plays a pivotal role in developing a countrys economy in terms of revenue generation and creation of employment. Latest apparel industry analysis shows that the growth rate has dipped by 1.5% to 2%. People across the world are becoming fitness conscious to avoid the risk of chronic diseases such as obesity, type 2 diabetes, and others. Within Consumer Discretionary sector only one Industry has achieved higher Revenue growth. India has a 4% share of the global trade in textiles and apparel. The country has the highest apparel exports per capita of any exporting nation in the region. Sportswear's global market in approximation was roughly $533.5 billion in 2020. Consumption was at a standstill, and products were piling up in warehouses for a while. India enjoys a comparative advantage in terms of skilled manpower and in cost of production relative to other major . According to a report by the Index of Consumer Sentiment (ICS), the COVID-19 pandemic strongly impacted the way consumers perceive their . Apparel industry in India Indian Fashion Retail which is currently estimated at Rs 3,61,160 crore (USD 54 billion) will grow at a promising CAGR of 8.1% for next ten years to reach Rs 7,88,532 crore (USD 118 billion) by 2028. Market Overview. However, there may also be new opportunities from growing south-south trade and the renegotiation of trade agreements. The biggest clothing company in the world, Nike, left behind other globally popular and best selling brands in 2020, such as Adidas, ZARA, and H&M. In 2017, the picture was slightly different, though. . The growth in the market can be attributed to the increasing awareness about the benefits of organic clothing, rising demand for eco-friendly products, and growing popularity of sustainable fashion. (GDP) increased at a Compound Annual Growth Rate (CAGR) of 1.7% during the 2016-19 period, it . Looking forward, IMARC Group expects the market to reach US$ 1,165 Billion by 2027, exhibiting a CAGR of 3.84% during 2022-2027. Rising health and self-consciousness, desire to lead active lifestyles and to appear fit, is encouraging consumers to incorporate sports and fitness activities into their daily routine. by 2026. China's textile exports jumped by 30.4% in 2020, boosted by the demand for face masks and personal protective equipment (PPE) in the wake of the Covid-19 pandemic. With $30.4 billion, Nike is the highest-earning apparel brand in the world in 2021. The global fashion apparel market is expected to grow at a CAGR of 4.5% during the forecast period, from 2021 to 2030. Revenue in the apparel segment is expected to show an annual growth rate (CAGR 2018-2022) of 11.4%, the market volume of apparel industry would result in US$1,032 million (S$1407.80 million) by 2022. 15. Revenue growth total ranking has impoved so far to 29, from total ranking in previous quarter at 76. The global luxury apparel market size to be valued at USD 84.04 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% during the forecast period. 17 billion in 2021 at a compound annual growth rate (CAGR) of 20. Indian Apparel Market [Apparel retail industry analysis] - Advertisement -. Fortunately, there are relevant long-term initiatives that both retailers and manufacturers should be considering in the here and now, to support future growth. Even well-established brands have to work hard to maintain their share of the market. . The compound annual growth rate of the market was 4.4% between 2013 and 2017. The global sports apparel market is estimated to witness a CAGR of greater than 7% during the forecast period (2022 - 2027). Bangladesh, Oct. 17 -- Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has said the RMG industry is increasingly focusing on enhancing efficiency and . Revenue was estimated to rise to almost 2 trillion dollars . Now valued at nearly $1.4 trillion dollars in sales for 2017, the industry shows no signs of slowing as the market is projected to experience . The China National Textile and Apparel Council (CNTAC), the governing body of China's textile and apparel industry, recently released its 14 th five-year plan, detailing the development objectives, growth strategies, and priority tasks for China's textile and apparel sector from 2021 to 2025.Unlike most market economies, the "five-year plan" serves as China's top economic development . The growth is mainly due to the companies . Textile Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) The Textile Industry is Segmented by Application Type (Clothing Application, Industrial/Technical Application, and Household Application), By Material (Cotton, Jute, Silk, Synthetics, and Wool), By Process ( Woven and Non-woven), and By Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle . Medical clothes offer safety from contaminants and bodily fluids, especially during disease treatments at . The annual CAGR for the years 2022-2026 is 4.15%. The global fashion industry is valued at $1.7 trillion as of 2022. Current & Future Challenges and Problems in the Apparel Industry. Garment Industry Overview & Key Statistics. The new trends, changing consumer habits, and market shifts have shed a light on the new challenges the eCommerce apparel industry is facing in 2022. Growth of the global apparel market is expected to remain . Sequentially Revenue grew by 3.64 %. The Indian textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach US$ 190 billion by 2025-26. Innovating the apparel industry. Added to that, continuously refreshing fast-fashion styles and changing consumer expectations further add to the woes of companies. Zacks Industry Rank Indicates Dim Prospects. The rising number of millionaires and brand loyalty among customers are anticipated to fuel the growth. In 2017, roughly a dozen apparel companies had approved SBTs or commitments - this number is now over 170, and spans geographies and company types (brands, manufacturers, material suppliers, etc). The sports apparel market was valued at $167.7 billion in 2018 and is estimated to reach $248.1 billion by 2026, registering a CAGR of 5.1% from 2019 to 2026. Global sports apparel market is estimated to generate about 165 billion U.S. dollars in 2017. The shopping habits of consumers have changed drastically after the COVID-19 pandemic. According to reports, the global apparel market is set to record a CAGR of 5.8% during the forecast period, 2022 - 2027. The global apparel industry was valued at $1,449.0 billion in 2018, registering a growth of 4.6 percent in comparison to the last year. In terms of ecommerce sales, the US fashion industry growth rate in 2022 is expected at 12.4 percent, a marginal increase from the 12.2 percent recorded in 2021. The global apparel market is expected to grow from $527. Global Apparel Industry Statistics: Market Rebound. The Apparel market is expected to show a volume growth of 9.7% in 2023. The sportswear industry is one of the fastest-growing clothing industries. In recent years, MAS has placed . a. The pandemic affected several industries in the world, including the apparel industry. US Ecommerce Fashion Industry Growth Rate. ET 11.3) 3. The Zacks Retail - Apparel And Shoes industry is a 35-stock group within the broader Zacks Retail - Wholesale sector. The forecast predicts an increase to USD 479.63 billion by 2025. Apparel sector accounts for 3% of GDP and 27% of the industrial output. We offer syndicated/off-the-shelf and custom market research reports covering Apparel Retailing industry. It was estimated in 2017, that the apparel market grew by approximately 5.46 percent compared to the previous year. The major growth forecast covered are: Apparel Retailing Industry CAGR % Growth Forecast for 2022-2028. Revenue growth Comment: Apparel, Footwear & Accessories Industry 's pace of Revenue growth in 3 Q 2022 decelerated to 3.34 % year on year, below Industry average. With this increase, sales are expected to total $170.91 billion. There has been tremendous growth in the number of companies in the apparel sector setting science-based climate change targets (SBTs). Regardless of a diversifying export basket, apparel has remained Sri Lanka's top export product for decades, with Sri Lanka being able to achieve $ 3.73 billion in apparel exports last year (not counting December figures), even amidst the Covid-19 pandemic. In addition, the right sportswear can improve your performance during . Organic growth is guaranteed through market penetration and capacity expansion. The offline sales market was the largest segment of the global apparel market segmented by distribution channel, accounting for 66.5% of the total in 2020. Apparel Industry Statistics: In 2022, apparel market is expected to generate US$ 364.20 bn. Aug 29, 2022 (The Expresswire) -- Golf Apparel Market Size Trend 2022, Analysis, growth, share, Status and Forecast 2026 Global "Golf Apparel Market" By. The opportunities for growth in 2022 will help fashion & apparel businesses deliver better quality products faster . Market Overview: The global organic clothing market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The Sports & Fitness Clothing market in the U.S. is estimated at US$47.8 Billion in the year 2020. - The womenswear segment was the industry's most lucrative in 2018, with total revenues of $771.5bn, equivalent to 52.6% of the industry's overall value.. "/> Sky-high product turnover rates and thinning profit margins present major supply chain challenges for organizations. According to the report analysis, ' Apparel Global Market Report 2020-30: Covid 19 Impact and Recovery ' states that NIKE Inc; Adidas AG; VF Corporation; PVH Corp; and Hanesbrands Inc. are the great players which recently operating in the apparel global market for leading the highest market growth and registering the great value of the . The growth in CAGR is attributable to the market returning to pre-pandemic levels once the pandemic is over. The global Sports Equipment and Apparel market size was valued at USD 568230.4 million in 2021 and is expected to expand at a CAGR of 7.72% during the forecast period, reaching USD 887984.56 . In July-March of this fiscal year, the country's apparel export to its biggest destination, the European Union, witnessed a 31.51% increase. The global luxury apparel market is projected to grow, witnessing a CAGR of 4.02% during the forecast period 2022-2027. ET The apparel manufacturing industry is comprised of establishments primarily engaged in the manufacturing of clothing and clothing accessories, including establishments that knit clothing from yarn, and manufacture clothing from knit fabrics. - The global apparel retail industry had total revenues of $1,467.7bn in 2018, representing a compound annual growth rate (CAGR) of 4.1% between 2014 and 2018. This sports apparel industry is highly fragmented, with many brands competing, from basic discount brands to high-end fashion names. The rising perception among consumers that luxury goods . Going forward, the fastest-growing regions in the clothing and apparel market will be Asia-Pacific and Africa, where growth will be at CAGRs of 15.4% and 14.3% respectively. That's tipped to grow by 13% this year, with consumers . The demand for fashion apparel has been on an upward trend due to changing lifestyles and increasing disposable income levels in . The Asia-Pacific region accounted for 37.1% of the global apparel retail market in 2017 (up from 36.8% in 2015), followed by followed by Europe (28.5%) and the United States (23.6%). Yet there is good news: The first-half results of JNBY Cloth saw revenue growth of 7.3 percent to 2.48 billion yuan (about $390.7 million), while Semir Apparel's 2021 company operating income of . . The textile and apparel industry is characterized by unpredictable demand, short product life cycles, quick response time, large product variety, and a volatile, inflexible, and complex supply chain structure (Fischer, 1997 ). Professional Cycling Apparel Market Size and Share 2022 Industry Analysis by Emerging Technologies, Growth, Drivers and Forecast to 2028 Published: Sept. 29, 2022 at 6:48 a.m. Revenue growth Y/Y Annual Comment: On the trailing twelve months basis Retail Apparel Industry faced contraction in cumulative twelve months Revenue by -11.23 % in 2 Q 2022 year on year. The Indian textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach US$ 190 billion by 2025-26. 25% of the total industry is focused on textile production, of which 12% are engaged in home textiles, 8% in cotton yarn, and 5% in other textiles. Going forward, the online sales segment is expected to be the fastest growing segment in the global apparel market segmented by distribution channel, at a CAGR of 13.6% during 2020-2025. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as . The U.S. apparel industry brought in $246.2 billion in revenue for 2021 an increase of more than $61 billion versus 2020, and the highest dollar volume generated in more than 10 years! Market Overview 2022-2027: The global women apparel market reached a value of US$ 915 Billion in 2021. The global sports apparel industry is witnessing rapid growth due to growth in the number of health and fitness-conscious individuals. 3. 11.1) 1. In fact, the 2023 forecast for the market shows that revenues are expected to increase 5.48 percent to hit just over $1.8 trillion. There are 85% more yoga products in stock year-to-year at active retailers in the U.S. 11.4) 4. The increased passion for sports and outdoor recreational activities among the country's young population is predicted to fuel the demand for athleisure gear over the forecast period Economic growth Exports of apparel per capita to the US market from leading garment-manufacturing countries, 1989-2009. . The industry currently carries . In the Apparel market, volume is expected to amount to 32,267.7m pcs. The fashion & apparel industry is a fluctuating industry and it has seen a lot of disruptions since the pandemic. In addition, Sri Lanka's envisaged exponential growth through hub services will emphasise the industry's rise to the international fame. Our apparel export witnessed growth both in traditional and non-traditional markets. The fashion market had a growth rate of 5.46% in 2017 and was projected to hit 6.2% by 2020. Sales of apparel, footwear, and accessories catapulted in 2021, hitting $180.5 billion in the US alone. According to Statista, the ecommerce fashion industry's compound annual growth rate (CAGR) is tipped to reach 14.2% between 2017 and 2025, with the industry hitting a $672.71 billion valuation by 2023.. 08 billion in 2020 to $635. Revenue growth total ranking has declined compared to a quarter before from to 106. The global apparel market is anticipated to record a CAGR of 5.8% during the forecast period (2022-2027). The growth of our apparel export in these eleven months from July to March was a staggering 34.87%. Apparel industry's market growth (post-2017 figures are projected). . The Zacks Shoes and Retail Apparel industry comprises companies that designs, sources and markets clothing, footwear and accessories for men, women and children, under various brand names. The growth in this market is driven by the increasing demand for fashion apparel across the globe. ISs can improve efficiency ( Srinivasan et al., 1994; Gunasekaran and Ngai, 2004) and effectiveness ( Levary, 2001 . In 2021, the revenue of the global apparel market reached 1.5 trillion U.S. dollars, and the industry continues to show positive growth. The industry is undergoing a drastic . The . Looking forward, IMARC Group expects the market to reach US$ 344.1 Billion by 2027, exhibiting a CAGR of 14.8% during 2022-2027. Public sector dominates the production industry with 50% in spinning, 60% in hemming, and 60% in weaving. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect . While consumer preferences and demand are the main drivers of the apparel industry's growth, manufacturing costs also play a role. It is projected to grow from USD 94.29 billion in 2021 to USD 140.64 billion in 2028 at a CAGR of 5.9% in the 2021-2028 period. China, the world second . Singapore's apparel industry generates revenue of US$671 million (S$915.34 million) in 2018. As per the official data of Ministry of Commerce and Industry, India's textile and apparel sector registered the highest ever growth of 40.55 per cent in its exports and reached US $ 43.44 billion in FY . The fashion market in the United States is forecasted to grow by 12.4% through 2022. American Football Apparel Market Share 2022 Global Industry Size, Growth, Segments, Revenue, Manufacturers and 2028 Forecast Research Report Published: Oct. 14, 2022 at 9:54 a.m. 11.2) 2. China is the largest producer and exporter of textiles and apparel in the world. Difficulty in managing customized order allocation and inventory sync. The country currently accounts for a 26.99% share in the global market. Textile and apparel industry description. Ecommerce Fashion Statistics . Further growth was forecast for the . Fashion-industry growth with the retail apparel market is expected to grow at 4% each year, with value luxury and affordable luxury being the two primary category winners in the segment. 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