Market Research Report
Women Apparel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||960496|
|Published||Content info||109 Pages
Delivery time: 2-3 business days
|Women Apparel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: September 3, 2020||Content info: 109 Pages||
The global women apparel market grew at a CAGR of around 5% during 2014-2019. Women's apparel is a broad category of products, including formal wear to casual and ethnic clothing. In recent years, the inflating disposable incomes, along with the rising influence of social media, celebrity endorsements and fashion magazines, have escalated the demand for luxury and premium apparel across the globe. As a result, leading brands are providing exclusive high fashion clothing items in different sizes and price segments for fashion-conscious individuals. The industry is also witnessing a shift in consumer preferences toward environment-friendly apparel on account of changing lifestyles and the growing trend of sustainable fashion.
The rising influence of e-commerce platforms is one of the key factors driving the global women's apparel market. As online retail stores offer convenience, faster delivery, discount coupons and easy accessibility, payments and return policies to consumers, they are rapidly gaining traction among customers. Additionally, owing to the increasing female workforce participation, leading manufacturers are focusing on the introduction of new designs and styles in formal wear. They are also introducing trendy clothes with different fabrics, patterns, styles, colors and designs to keep consumers updated with the latest fashion trends. Moreover, the growing concept of visual merchandising and fashion rental services is also increasing the sales of branded apparels. Apart from this, the adoption of innovative strategies, such as mass customization and personalization, and 3D knitting machines, to reduce production costs and improve quality, are anticipated to bolster the market growth in the upcoming years. However, the industry growth is being negatively influenced due to the coronavirus disease (COVID-19) pandemic, which has led to disruptions in the supply chain and temporary closure of retail facilities. Looking forward, IMARC Group expects the global women apparel market to exhibit moderate growth during the next five years.