South Korea’s apparel market is projected to reach US $ 39.36 billion in 2024 in sales. The market is further projected to grow with a CAGR of 0.22 per cent from 2024 to 2027.
According to statistics released by Statista, women’s apparel is the market’s largest section, with a market volume of US $ 19.45 billion in 2024. followed by menswear with a revenue of US $ 16.25 billion and kidswear valued at US $ 3,654 million.
In contrast to 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 revenue in South Korea in 2024 is US $ 760.60, contributing substantially to the growth of the South Korean retail market.
Looking ahead, the apparel market is estimated to reach 1.6 billion pieces by 2027. However, a modest volume reduction of 1.2 per cent is expected in 2025. The data predicts the average volume per person in South Korea is expected to be 32.59 pieces.
In comparison, the United States earns the most revenue in the worldwide market, with US $ 359 billion in 2024. South Korea’s fashion business is growing, with a significant commitment to streetwear and Korean celebrities impacting fashion trends.
