The global women apparel market grew at a CAGR of 4.8% during 2015-2020. 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.
Global Women Apparel Market Trends and Drivers:
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.
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 highly 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 grow at a CAGR of 4.2% during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global women apparel market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type, season and distribution channel.
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The report has also analysed the competitive landscape of the market with some of the key players being Adidas AG, Burberry Group Plc, Dolce & Gabbana, Forever21, Giorgio Armani S.p.A., Industria de Diseño Textil S.A., Kering, L Brands Inc., LVMH, PVH Corp., Prada S.p.A. and Uniqlo Co. Ltd. (Fast Retailing Co. Ltd.).
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