The global apparel market is projected to witness substantial growth, with an estimated increase of US $ 582.93 billion till 2027, at an impressive Compound Annual Growth Rate (CAGR) of 6.65 per cent as per Technavio’s latest market study.
During the forecast period, the women’s segment is expected to experience remarkable market share growth. This can be attributed to several factors, including the surging demand for women’s apparel driven by changing fashion trends, the rising purchasing power of women, and evolving lifestyles.
Moreover, the growing prevalence of online platforms has made shopping for clothing more convenient for women than ever before.
Consequently, these factors are anticipated to be the driving forces behind the significant growth of the women’s segment in the projected time frame.
During the forecast period, the Asia-Pacific (APAC) region is projected to make a significant 39 per cent contribution to the global market growth.
This remarkable growth can be attributed to the economic development observed in several Asian nations, including China, India, and various Southeast Asian countries. As a result of this economic progress, there has been a notable increase in disposable income among the working class in the region.
