PUBLISHER: GlobalData | PRODUCT CODE: 1441162
PUBLISHER: GlobalData | PRODUCT CODE: 1441162
This report includes analysis, market forecasts, brands, consumer attitudes and trends in the Apparel Market in China to 2027.
The apparel market in China grew 9.1% in 2023, after the country ended its zero-COVID policy in January, enabling consumers to both shop from physical stores and partake in social events. However, the market's potential was held back by weakened consumer confidence and the collapse of the real estate market in China. Though this will continue to have an impact in the short term, the introduction of more government policies should ease consumer uncertainty, and the growing middle-class and urban populations will benefit apparel spending, leading the market to rise at a CAGR of 6.8% between 2023 and 2027. The accessories category is forecast to have the strongest CAGR of 8.1% between 2023 and 2027, driven mainly by the luxury sector, while footwear is expected to grow at a CAGR of 7.3%, driven by sustained demand for trainers. Clothing is expected to have the slowest growth, growing at a CAGR of 6.4% between 2023 and 2027.