Segments covered: By Type – Women’s Wear, Men’s Wear, Kids Wear; By Distribution Channel – Retail Stores, Online Stores; By Type of Fiber – Man-Made Fibers, Cotton Fibers, Animal Based Fibers, Vegetable Based Fibers. Subsegments covered: Dresses & Skirts, Women’s Trousers, Blouses, Women’s Jerseys, Sweatshirts & Pullovers, Women’s Coats and Jackets, Women’s Suits & Ensembles, Women’s Blazers, Night & Underwear (Women & Girls), Women’s T shirts & Slarlets, Women’s Sports & Swimwear, Other Women’s Wear, Men’s Trousers, Men’s Shirts, Men’s Jerseys, Sweatshirts & Pullovers, Men’s Coats and Jackets, Men’s Blazers, Men’s Suits, Night & Underwear( Men’s and Boys), Men’s T shirts & Slarlets, Men’s Sports & Swimwear, Other Men’s Wear, Infant And Toddler Clothes, Young Children Clothes
/EIN News/ — LONDON, July 15, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the apparel market, apparel manufacturers are adopting advanced techniques such as enzyme technology, foam technology, and plasma technology for the production of eco-fibers. Eco fibers are the organic materials that are environmentally sustainable.
For instance, Lenzing AG offers Tencel modal fibers using eco soft technology that utilizes an elemental chlorine-free bleaching technique during manufacturing. This technology has a high recovery rate for ingredients and causes very low-rate air emissions.
For example, Mango Materials produces biodegradable bio-polyester that is a sustainable alternative to synthetic polyester. Mango Materials focuses on the production of polyhydroxyalkanoate, a biodegradable polymer from methane. In this process, plastic chips are melted to make plastic bags or fiber for clothing.
Similarly, Nano Textile created cavitation technology that embeds fabric finishes directly into fabrics. Nano fabrics or nano textiles are fabrics engineered with small particles that allows the fabric to have properties such as superhydrophobicity (extreme water resistance), odor and moisture elimination, increased elasticity and strength, and bacterial resistance. Apparel manufacturers should adopt advanced technologies to produce eco-friendly smart textiles, allowing them to be competitive with conventional fashion offerings.
The global apparel market size 2020 was $527.8 billion, and it is expected to grow to $635.7 billion in 2021 at a compound annual growth rate (CAGR) of 20%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global apparel market worth is expected to reach $842.3 billion in 2025 at a CAGR of 7%.
The Business Research Company’s report titled Apparel Global Market – Opportunities And Strategies – Global Forecast To 2030 covers major apparel companies, apparel market share by company, apparel manufacturers, apparel market size, and apparel market forecasts. The report also covers the global apparel market and its segments.
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Asia Pacific is the largest region in the global apparel market, accounting for 32.8% of the total in 2020. It was followed by Western Europe, North America, and then the other regions. Going forward, the fastest-growing regions in the apparel market will be South America and the Middle East, where growth will be at CAGRs of 16.2% and 14.3% respectively, during 2020-2025. These will be followed by Africa, and Eastern Europe where the markets are expected to grow at CAGRs of 12.5% and 11.6% respectively, during 2020-2025.
In addition to stockpiling of apparels from physical retail store shelves such as INDITEX, Uniqlo, and H&M, online ordering has also gone up. Due to lockdowns and travel restrictions around the world, people have less desire or need to purchase or wear much beyond casual clothing. As many companies announced the remote working option to their employees due to physical distancing restrictions, the market has witnessed a gradual increase in demand for work-from-home wear. Fashion retailers shifted their sales channel to online platforms focusing on new trends based on evolving consumer.
For example, according to the Facebook-BCG joint study report, around 90% of consumers purchased clothing online during the lockdown. During the pandemic, consumers find it safer to order apparels online rather than going outside to physical stores.
In the wake of the COVID-19 pandemic, apparel companies should respond to the crisis by collaborating and coordinating with other businesses with different functionalities, which limits the effect of a pandemic on the apparel market. Many companies began implementing various methods such as offering their products online and through wholesalers, finding new ways to promote their products through virtual trade shows. With increasing vaccination campaigns across the major countries in the European Union, the UK, the USA, India, and many other countries, future plans to fully open retail stores might increase the demand for apparel.
Apparel Global Market – By Type (Women’s Wear, Men’s Wear, Kids Wear), By Type Of Fiber (Man-Made Fibers, Cotton Fibers, Animal Based Fibers, Vegetable Based Fibers), By Distribution Channel (Online Sales, Offline Sales), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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