Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the garments manufacturing market provides in-depth analysis of segments and sub-segments in the global as well as regional garments manufacturing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional garments manufacturing market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global garments manufacturing market. According to the report, the global garments manufacturing market is projected to grow at a CAGR of over 8% over the forecast period of 2022-2028.
The revenue generated by the garments manufacturing market was about USD 608 billion in 2022 and is expected to reach nearly USD 986 billion in 2028 and is expected to grow with a CAGR of over 8% over the forecast period 2022-2028. Demand for the global garments manufacturing industry is highly dependent on disposable income and the overall economic well-being of the region in consideration. In general, the industry has profited from consumers buying more clothing at lower prices, which has increased industry revenue and profit. The primary factor underlying the industry's resurgent growth is anticipated to be rising disposable income levels across both established and emerging economies. The performance of industries is frequently influenced by changes in global disposable income.
The fashion sector is always benefited from innovative designs, desirable fashion choices, and effective marketing strategies. The accessibility of high-end brands and limited edition goods has increased thanks to increased internet and e-commerce exposure. Utilizing influencers has changed how beauty businesses sell their goods and attempt to boost sales. Global clients are becoming interested in local firms with sustainable business models. These start-ups provide a variety of looks, including formal, casual, and traditional clothing, with distinctive designs and concepts that appeal to clients' preferences. Additionally, as consumers steadily grew more at ease making wardrobe purchases from their computers and portable devices, online garment sales have seen growth in recent years. It is primarily web-only startups that are responsible for the increase in online garment sales. Over the course of the forecast period, the market is anticipated to grow as a result of rising demand for clothing from the fashion sector and the expansion of e-commerce platforms. The negative effects of garment manufacturing on the environment may hamper the growth of the market. Advancements in garments manufacturing technology offer growth opportunity.
The unprecedented global public health crisis known as COVID-19 has had an influence on practically every industry and is expected to continue to do so throughout the course of the projection period. In contrast, the global expansion of the ready-to-wear market has been negatively impacted by the new coronavirus outbreak. The supply chain disruption is largely to blame for the slowing growth of the market for ready-made clothing. However, the demand for readymade garments remains consistent among consumers. Moreover, a halt in the production of clothing, fabric, and other complementary products due to social distancing being practiced all around the world has adversely affected the growth of this industry.
According to region, North America held the top spot in the global garments manufacturing market in 2021 and is anticipated to expand at a considerable CAGR over the coming years. This can be linked to the improvement in discretionary income and the stable economic environment. Additionally, the desire of consumers for a healthy lifestyle and the steady increase in adventure travel and expeditions support the expansion of sports apparel in the area. Additionally, the accessibility of brand-new, performance-improving sports gear has increased consumer demand for high-end goods, which has fueled the uptake of high-end or luxury apparel in this region.
The report on the global garments manufacturing market covers segments such as product type, application, fabric type, age group, and sales channel. On the basis of product type, the sub-markets include outer clothing, and inner clothing. On the basis of application, the sub-markets include formal wear, sports wear, casual wear, safety wear, and others. On the basis of fabric type, the sub-markets include knit, woven, and non-woven. On the basis of age group, the sub-markets include old adults, adults, kids, and toddlers. On the basis of sales channel, the sub-markets include supermarkets/hypermarkets, independent retail stores, specialty stores, e-commerce, and others.
The report provides profiles of the companies in the market such as Benetton Group Srl, Hanesbrands Inc., H&M Hennes & Mauritz Ab, Louis Vuitton (Lvmh), Nike, Inc., PVH Corporation, The Gap, Inc., Under Armour, Inc., V. F. Corporation, and Zara.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the garments manufacturing market. Moreover, the study highlights
current market trends and provides forecasts from 2022-2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings insight into the market share of the leading players.
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