Ready-made garments market is expected to reach $1,268.3 billion by 2027

Consumers today have become highly influenced by social media, celebrities and the fashion industry

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220U, USA, April 4, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled ” Ready-to-wear market By Product Type, Application, Fabric Type, Age Group, Sales Channel and Region: Global Opportunity Analysis and Industry Forecast, 2021-2027”, the global ready-made garments market size was valued at $983.7 billion in 2019 and is expected to reach $1,268.3. billion by 2027, registering a CAGR of 8.8% from 2021 to 2027. The outerwear segment was the largest contributor to the market in 2019 and is expected to grow at a CAGR of 8.8% during the forecast period. China and the United States were the main countries in the ready-to-wear market in 2019.

Ready-to-wear garments are mass-produced garments produced in accordance with standard garment sizes. The demand for ready-to-wear is expected to increase over the forecast period, owing to the change in the pattern of buying the products by the consumers. Furthermore, the rise in individuals’ concern over physical appearance has increased the spending on toiletries and clothing, thereby boosting the sale of various ready-to-wear garments across the world. In addition, the increase in the frequency of direct-to-consumer advertisements and the aggressive promotion of major players to boost apparel sales have significantly contributed to the growth of the ready-to-wear market.

However, the negative impact of garment manufacturing on the environment and increasing instances of labor exploitation are hampering the growth of the market. Conversely, surge in demand for functional sportswear is expected to provide growth opportunities in the ready-to-wear apparel market for market expansion over the forecast period.

Sample Request:- https://www.alliedmarketresearch.com/request-sample/7020

The report segments the ready-to-wear market on the basis of product type, application, fabric type, age group, sales channel and region. Based on product type, the ready-to-wear market is classified into loungewear and outerwear. Applications covered in the study include formal wear, sportswear, casual wear, safety wear and others. By type of fabric, it is separated into knit, woven and non-woven. According to the age group, it is fragmented into older adults, adults, children and toddlers. According to the sales channel, it is differentiated into supermarkets and hypermarkets, independent retail stores, specialty stores, e-commerce and others. Regionally, it is studied in North America, Europe, Asia-Pacific and LAMEA.

By product type, the outerwear segment was the largest contributor to the market, in 2019, and is expected to grow at a CAGR of 8.8% during the forecast period. However, the loungewear segment is expected to witness a higher growth rate during the forecast.

According to the ready-to-wear apparel market forecast by application, the formal wear segment dominated the market in 2019 and is expected to grow at a CAGR of 9.1% during the forecast period. However, the others segment is expected to witness a higher growth rate during the forecast.

Get a detailed analysis of the impact of COVID-19 on the Ready Made Clothing Market:- https://www.alliedmarketresearch.com/request-for-customization/7020?reqfor=covid

Based on ready-to-wear market analysis by fabric type, the woven segment showed the highest growth in 2019 and is expected to register a CAGR of 9.1% during the forecast period. However, the nonwovens segment is expected to witness a high growth rate of 8.6% during the forecast period.

Based on age group, the adult segment was the largest contributor to the market in 2019 and is expected to grow at a CAGR of 9.1% over the forecast period. However, the children’s segment is expected to witness a high growth rate of 9.4% during the forecast period.

According to the sales channel, the supermarket/hypermarket segment dominated the market in 2019 and is expected to grow at a CAGR of 9.0% during the forecast period. However, the e-commerce segment is expected to witness a higher growth rate during the forecast.

Regionally, Asia-Pacific was the largest contributor to the market in 2019 and is expected to grow at a CAGR of 10.1% over the forecast period. The LAMEA region is expected to witness a high growth rate during the forecast period.

Buy now :- https://www.alliedmarketresearch.com/checkout-final/7b3d09f06b02b834b99fbc274e03c32c

Major players in the ready-to-wear industry have relied on product launches and business expansion to stay relevant in the global ready-to-wear market share. Key players profiled in the report are Louis Vuitton, Nike Inc., GAP, VF Corporation, H&M, Zara, Hanesbrands Inc., Under Armour, PVH Corporation, and Benetton Group.

Main results of the study:

The outerwear segment in the ready-to-wear market is expected to witness the highest CAGR of 8.8% in terms of revenue during the forecast period.
By application, the formal segment is expected to dominate the market in 2027.
The woven segment occupied the largest share in 2019 and is expected to grow at a significant CAGR during the forecast period.
China is the largest country in terms of demand and production of ready-to-wear clothing in the ready-to-wear market.
E-commerce is expected to witness the highest growth rate, registering a notable CAGR from 2021 to 2027, in terms of value.

Similar report :-
water sports equipment market https://www.alliedmarketresearch.com/water-sports-gear-market-A06301
nightwear market https://www.alliedmarketresearch.com/sleepwear-market-A06311

David Correa
Allied Analytics LLP
800-792-5285
write to us here
Visit us on social media:
Facebook
Twitter
LinkedIn