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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 (2017-2027); 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 2022-2027 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 | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| 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. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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 Industry Opportunities and Challenges
8 Global Readymade Garments Market Analysis
8.1 Key Industry Highlights
8.2 Global Readymade Garments Historical Market (2017-2021)
8.3 Global Readymade Garments Market Forecast (2022-2027)
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 (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Inner Clothing
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Sports Wear
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Casual Wear
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Safety Apparel
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Woven
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Non - Woven
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.7 Global Readymade Garments Market by Gender
8.7.1 Men
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 Women
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Kids
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2017-2021)
8.7.3.3 Forecast Trend (2022-2027)
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 (2017-2021)
8.8.1.3 Forecast Trend (2022-2027)
8.8.2 Independent Retail Stores
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2017-2021)
8.8.2.3 Forecast Trend (2022-2027)
8.8.3 Speciality Stores
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2017-2021)
8.8.3.3 Forecast Trend (2022-2027)
8.8.4 Online
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2017-2021)
8.8.4.3 Forecast Trend (2022-2027)
8.8.5 Others
8.9 Global Readymade Garments Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Countries
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Countries
12.2.1 By Value
12.2.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Louis Vuitton Malletier SAS
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Nike, Inc.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 The Gap, Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 VF Corporation
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Hennes & Mauritz AB
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Zara
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Hanesbrands Inc.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Others
14 Industry Events and Developments
List of Key Figures and Tables
1. Global Readymade Garments Market: Key Industry Highlights, 2016 and 2026
2. Global Readymade Garments Historical Market: Breakup by Type (USD Billion), 2017-2021
3. Global Readymade Garments Market Forecast: Breakup by Type (USD Billion), 2022-2027
4. Global Readymade Garments Historical Market: Breakup by Application (USD Billion), 2017-2021
5. Global Readymade Garments Market Forecast: Breakup by Application (USD Billion), 2022-2027
6. Global Readymade Garments Historical Market: Breakup by Fabric Type (USD Billion), 2017-2021
7. Global Readymade Garments Market Forecast: Breakup by Fabric Type (USD Billion), 2022-2027
8. Global Readymade Garments Historical Market: Breakup by Gender (USD Billion), 2017-2021
9. Global Readymade Garments Market Forecast: Breakup by Gender (USD Billion), 2022-2027
10. Global Readymade Garments Historical Market: Breakup by Distribution Channel (USD Billion), 2017-2021
11. Global Readymade Garments Market Forecast: Breakup by Distribution Channel (USD Billion), 2022-2027
12. Global Readymade Garments Historical Market: Breakup by Region (USD Billion), 2017-2021
13. Global Readymade Garments Market Forecast: Breakup by Region (USD Billion), 2022-2027
14. North America Readymade Garments Historical Market: Breakup by Country (USD Billion), 2017-2021
15. North America Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Europe Readymade Garments Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Europe Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Asia Pacific Readymade Garments Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Asia Pacific Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Latin America Readymade Garments Historical Market: Breakup by Country (USD Billion), 2017-2021
21. Latin America Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2022-2027
22. Middle East and Africa Readymade Garments Historical Market: Breakup by Country (USD Billion), 2017-2021
23. Middle East and Africa Readymade Garments Market Forecast: Breakup by Country (USD Billion), 2022-2027
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 2022-2027.
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 2022-2027, 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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