Japan’s apparel market is all set to close 2023 with US $ 87 billion in sales. The market is further projected to grow with a CAGR of 2.42 per cent from 2023 to 2027.
According to statistics released by Statista, women’s apparel is the market’s largest section, with a market volume of US $ 48.41 billion in 2023, followed by menswear with a revenue of US $ 29.83 billion and kidswear valued at US $8.76 billion.
In terms of other nations, China earns the most revenue in the apparel industry, with a projected value of US $ 371.20 billion, while the USA stands at the second rank with revenues of US $ 351 billion in 2023.
When the complete population is taken into account, the per-person apparel revenue in Japan in 2023 is US $ 705.60, contributing substantially to the growth of the Japanese retail market.
Looking ahead, the apparel market is estimated to reach 4.3 billion pieces by 2027. However, a modest volume reduction of 2.4 per cent is expected. The data predicts the average volume per person in Japan is expected to be 38.5 pieces.
