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Global Readymade Garments Market: By Product Type: Outer Clothing, Inner Clothing; By Application: Formal Wear, Sports Wear, Casual Wear, Others; By Fabric Type; By Gender; By Distribution Channel; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Readymade Garments Market Outlook
The global readymade garments market stood at a value of around USD 865 billion in 2020. The market is further expected to grow at a CAGR of 8.70% in the forecast period of 2023-2028 to attain a value of around USD 1,496.50 billion by 2026.
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Growing Popularity of Casual Wear to Bolster the Growth of the Readymade Garments Industry
Based on application, the formal wear segment witnessed a moderate growth in the historical period. Formal wear incorporates decency and professionalism in the outfit, therefore, witnessing an increased demand in the corporate sector. Meanwhile, the casual wear segment is likely to account for a significant share in the market over the forecast period owing to the growing preference for comfortable clothing options, especially after the COVID-19 outbreak and the prevalence of work-from-home culture. This is expected to significantly contribute to the growth of the overall market.
Significant Growth of the E-Commerce Sector to Aid the Growth of the Readymade Garments Industry
On the basis of distribution channel, the online segment is likely to witness a robust growth in the forecast period, owing to the growing popularity of various e-commerce websites that provide a number of options along with attractive discounts. The cash on delivery option provided by the websites has proven to be convenient for consumers and is expected to further aid the growth of the segment. Meanwhile, the supermarket and hypermarket segment is likely to account for a significant share in the market, owing to the growing urbanisation and establishment of shopping malls, particularly in developing economies.
The Asia Pacific Accounts for a Significant Share in the Readymade Garments Industry
The growth of the readymade garments industry in the Asia Pacific can be attributed to the rising disposable income, growing working population, rapid urbanisation, and the thriving fashion and clothing industry in the region. The improving living standards and the growing focus on appearance, especially in countries like Vietnam, India, and China, can be observed. Therefore, the market is likely to get ample opportunities for the market expansion in the region.
Readymade Garment: Market Segmentation
The readymade garment is defined as a finished textile product of the clothing industry. They are made from different fabrics and yarns. The characteristics of readymade garments totally depends on the type of fabric used by the manufacturer.
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By product type, the market is divided into:
- Outer Clothing
- Inner Clothing
On the basis of application, the market can be segmented into:
- Formal Wear
- Sports Wear
- Casual Wear
- Safety Apparel
- Others
The market can be divided based on fabric type into:
- Knit
- Woven
- Non-Woven
Based on gender, the market can be segmented into:
- Men
- Women
- Kids
On the basis of distribution channel, the market has been divided into:
- Supermarket and Hypermarket
- Independent Retail Stores
- Speciality Stores
- Online
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Thriving Fashion and Clothing Industry, along with the Growing Preference for Online Shopping, to Bolster the Growth of the Readymade Garments Industry
The global readymade garments industry is driven by the growing fashion and clothing industry, owing to the rapidly changing fashion trends. Over the forecast period, the changing fashion trends and the availability of attractive and varied outfits, including sustainable clothing options, are expected to positively influence the market. Moreover, the aggressive promotion and ad campaigns carried out by popular fashion brands are expected to further bolster the market growth. Meanwhile, the growing e-commerce industry, owing to the increasing consumer demand for convenient purchasing options, is likely to aid the market growth in the forecast period. The e-commerce platforms provide advantages like price comparison and cash on delivery options, diversification, and attractive offers on various brands, thus, propelling the online sales of the product.
Key Industry Players in the Global Readymade Garments Market
The report gives a detailed analysis of the following key players in the global readymade garments market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Louis Vuitton Malletier SAS
- Nike, Inc.
- The Gap, Inc.
- VF Corporation
- Hennes & Mauritz AB
- Zara
- Hanesbrands Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Application, Fabric Type, Gender, Distribution Channel, Region |
| Breakup by Product Type | Outer Clothing, Inner Clothing |
| Breakup by Application | Formal Wear, Sports Wear, Casual Wear, Safety Apparel, Others |
| Breakup by Fabric Type | Knit, Woven, Non - Woven |
| Breakup by Gender | Men, Women, Kids |
| Breakup by Distribution Channel | Supermarket and Hypermarket, Independent Retail Stores, Speciality Stores, Online, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Louis Vuitton Malletier SAS, Nike, Inc., The Gap, Inc., VF Corporation, Hennes & Mauritz AB, Zara, Hanesbrands Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Readymade Garments Market Analysis
8.1 Key Industry Highlights
8.2 Global Readymade Garments Historical Market (2018-2022)
8.3 Global Readymade Garments Market Forecast (2023-2028)
8.4 Global Readymade Garments Market by Product Type
8.4.1 Outer Clothing
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Inner Clothing
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Readymade Garments Market by Application
8.5.1 Formal Wear
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Sports Wear
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Casual Wear
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Safety Apparel
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Readymade Garments Market by Fabric Type
8.6.1 Knit
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Woven
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Non - Woven
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Readymade Garments Market by Gender
8.7.1 Men
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Women
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Kids
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.8 Global Readymade Garments Market by Distribution Channel
8.8.1 Supermarket and Hypermarket
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Independent Retail Stores
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Speciality Stores
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Online
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Others
8.9 Global Readymade Garments Market by Region
8.9.1 North America
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2022)
8.9.1.3 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2022)
8.9.2.3 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2022)
8.9.3.3 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2022)
8.9.4.3 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2022)
8.9.5.3 Forecast Trend (2023-2028)
9 North America Readymade Garments Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Readymade Garments Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Readymade Garments Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Readymade Garments Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Readymade Garments Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Louis Vuitton Malletier SAS
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Nike, Inc.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 The Gap, Inc.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 VF Corporation
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Hennes & Mauritz AB
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Zara
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Hanesbrands Inc.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Readymade Garments Market: Key Industry Highlights, 2018 and 2028
2. Global Readymade Garments Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Readymade Garments Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Readymade Garments Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Readymade Garments Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Readymade Garments Historical Market: Breakup by Fabric Type (USD Billion), 2018-2022
7. Global Readymade Garments Market Forecast: Breakup by Fabric Type (USD Billion), 2023-2028
8. Global Readymade Garments Historical Market: Breakup by Gender (USD Billion), 2018-2022
9. Global Readymade Garments Market Forecast: Breakup by Gender (USD Billion), 2023-2028
10. Global Readymade Garments Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
11. Global Readymade Garments Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
12. Global Readymade Garments Historical Market: Breakup by Region (USD Billion), 2018-2022
13. Global Readymade Garments Market Forecast: Breakup by Region (USD Billion), 2023-2028
14. North America Readymade Garments Historical Market: Breakup by Country (USD Billion), 2018-2022
15. North America Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Europe Readymade Garments Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Europe Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Asia Pacific Readymade Garments Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Asia Pacific Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Latin America Readymade Garments Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Latin America Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Middle East and Africa Readymade Garments Historical Market: Breakup by Country (USD Billion), 2018-2022
23. Middle East and Africa Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2023-2028
24. Major Exporting Countries by Value
25. Major Importing Countries by Value
26. Major Exporting Countries by Volume
27. Major Importing Countries by Volume
28. Global Readymade Garments Market Structure
Key Questions Answered in the Report
In 2020, the global readymade garments market attained a volume of nearly USD 865 billion.
The market is estimated to witness a healthy growth at a CAGR of 8.70% in the forecast period of 2023-2028.
The major drivers of the market include the availability of attractive and varied outfits, including sustainable clothing options, promotion and ad campaigns, growing e-commerce industry, rising disposable income, growing working population, rapid urbanisation, and the growing focus on appearance.
The growing fashion and clothing industry and the rapidly changing fashion trends are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Outer clothing and inner clothing are the major product types in the market.
Formal wear, sports wear, casual wear, and safety apparel, among others are the significant applications of the product.
Knit, woven and non-woven are the various fabric types of the product in the market.
The market segmentation based on gender is men, women, and kids.
Supermarket and hypermarket, independent retail stores, speciality stores, and online, among others are the various distribution channels in the market.
The major players in the industry are Louis Vuitton Malletier SAS, Nike, Inc., The Gap, Inc., VF Corporation, Hennes & Mauritz AB, Zara, and Hanesbrands Inc., among others.
Analyst Review
The global readymade garments market attained a value of USD 865 billion in 2020, driven by the thriving fashion and clothing industry. Aided by the introduction of new and innovative outfits made by major fashion brands and changing fashion trends, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 8.70%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the market is divided into outer clothing and inner clothing. On the basis of application, the market is divided into formal wear, sports wear, casual wear, and safety apparel, among others. The fabric types of the product include knit, woven and non-woven. On the basis of gender, the market is divided into men, women, and kids. The various distribution channels of the product include supermarket and hypermarket, independent retail stores, speciality stores, and online, among others. The major regional markets for readymade garments are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Louis Vuitton Malletier SAS, Nike, Inc., The Gap, Inc., VF Corporation, Hennes & Mauritz AB, Zara, and Hanesbrands Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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