The global womenswear market is prognosticated to get shot in the arm as fashion becomes a larger part of people’s lives. The reason for this is that it is not just women showing interest in fashion but also men as new products continue to fill shelves. Promotion and marketing of women’s wear have also played a critical role in increasing the demand in the global market.
This could be supported by rapid urbanization and industrialization witnessed in leading regions of the global womenswear market. Rise of online retail and e-shopping could act as another factor propelling the growth of the global womenswear market.
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Fact.MR projects the global women’s wear market to reach an US$829.6 bn valuation by the end of 2022. Among various categories of women’s wear, ethnic wear is poised to be valued at a US$64.1 bn by the same year. This segment could also post a higher CAGR among other women’s wear categories during the forecast period 217-2022.
By revenue, it secures close to a tenth of the total share of the global women’s wear market. Moreover, this share of the global women’s wear market could increase in the near future. Women’s wear can be classified into other categories such as footwear, accessories, trousers/skirts, sportswear, tops/shirts/T-shirts, sleepwear, winter wear, and innerwear.
Womenswear Market Competitive Landscape:
- Benetton Group
- The TJX Companies Inc.
- Marks & Spencer Group plc
- Hennes & Mauritz AB
- Gap Inc.
On the basis of demographics, the global women’s wear market is segregated into 66+, 56-65, 46-55, 36-45, 26-35, and 18-25. By the end of the forecast period, a US$31.0 bn valuation could be obtained by the 18-25 women’s wear market.
As per sales channel, the global women’s wear market is divided into online, specialty stores, franchise stores, and modern trade.
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From a geographical perspective, the global womenswear market is envisaged to witness the rise of APEJ as a leading region due to increase in population. On the basis of value, this region could show sheer dominance on the global women’s wear market.
This trend is predicted to continue until the end of the forecast period. Although it could grow at a moderate CAGR, APEJ could be one of the most attractive regions of the global women’s wear market. Increasing experimentation with clothing and the sense of self-consciousness in some women, if not all, are expected to cause a surge in the sales of women’s wear.
Additional Questions Answered
The authors of the report answer key questions raised by readers. For instance:
- Which demographic will collect a king’s share of the global women’s wear market?
- Will the ethnic type of women’s wear draw more demand in future?
- How will the APEJ market for women’s wear take the lead in terms of revenue?
- How will be the global women’s wear market bifurcated on the basis of price?
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