Wow, the global apparel and footwear market is really taking off! We're expecting a yearly growth of 7.48% – that's a lot! By 2026, we could be looking at a market worth a staggering USD2605.60 billion. What's driving this growth? Well, you've got more millennials with more money to spend, and young people's tastes are always evolving. Plus, people are really paying attention to brands these days, and companies are getting super creative to win them over. The rise of e-commerce is huge, too, especially with those strong supply chains keeping everything moving. Don't forget that the apparel and footwear industry is a significant contributor to a country's GDP, and with new players constantly jumping in, things are definitely looking up!
The world of clothing and shoes is huge, covering everything from your everyday basics to seriously high-end stuff! And things are always changing – designs evolve, what shoppers want shifts, and how stores sell things is constantly being re-thought, making it a pretty wild market. Think about itcasual wear, sports wear, even your night wear, not to mention formal wear and inner wear! Then there's shoes, sandals, boots, and slippers – all for men, women, and kids. During the lockdowns, governments around the globe temporarily halted all sorts of activities, including production and manufacturing of products, in various parts of the world. When things were really bad, especially in places like China, it was tough for companies to get the raw materials they needed, which caused problems for factories worldwide, especially in Southeast Asia, where a lot of textiles, leather, and footwear are made. The lockdowns really hit both the desire to buy and the ability to supply apparel and footwear, so growth slowed down considerably. Now, though, the apparel and footwear market is attracting investors, and big international brands are jumping in. This is gradually turning the market into one where brands – especially those multinational giants – rule the roost.
Okay, so the whole world of clothes and shoes can be broken down in a bunch of waysthink about what kind of item it is, what type of clothing or footwear, who's buying it, where they're buying it from, and of course, where in the world it's being sold. When we talk about the "type," we're really just dividing it into apparel and footwear. Now, apparel was the big winner in 2020, holding the largest slice of the pie. Why? Well, fashion changes fast! Plus, Western styles are catching on, more people are online, and brands keep pumping out trendy stuff for cheap – all with some pretty loud advertising. Then there's the "where you buy it" thing, which includes places like specialty retailers, supermarkets, online stores, & others. Right now, Specialty retailers are king, grabbing around 38% of the market in 2020, and they're predicted to stay on top for a while. But don't count out online shopping! It's expected to grow as you can often find high discounts.
NIKE, Inc., Adidas AG, Industria de Diseño Textil, S.A., H & M Hennes & Mauritz AB, Aditya Birla Fashion and Retail Limited (Includes Peter England, Louis Philippe, Van Heusen, Allen Solly, Pantaloons, etc.), PVH Corp., VF Corporation, Puma SE, Kering SA, Next Plc. are some of the companies operating in the global apparel and footwear market. It is the growing trends towards fitness and fashion because of which companies like “NIKE, Inc.” are leading the apparel and footwear market around the globe.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022-2026
Objective of the Study
- To analyze the historical growth in the market size of the global apparel and footwear market from 2016 to 2020.
- To estimate and forecast the market size of global apparel and footwear market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast global apparel and footwear market based on by type, by apparel type by footwear type, by end-user, by distribution channel, by region and by company.
- To identify the dominant region or segment in the global apparel and footwear market.
- To identify drivers and challenges for the global apparel and footwear market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global apparel and footwear market.
- To identify and analyze the profile of leading players operating in the global apparel and footwear market.
- To identify key sustainable strategies adopted by market players in the global apparel and footwear market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, end-users, distribution channels, and presence of all major players across the country.
TechSci Research calculated the market size of the global
Key Target Audience
- Manufacturers, distributors, and end-user
- Market research and consulting firms
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to apparel and footwear
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end-user, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
