Clothing Industry Definition
The sale of clothing by companies, individual proprietors, and partnerships that produce clothing makes up the apparel market. Clothing or clothes in general are referred to as apparel. Clothing manufacturers either knit cloth first and then cut and sew it into a garment, or they cut and sew (i.e., buy fabric and cut and sew to make a garment). The apparel industry includes businesses that produce entire lines of ready-to-wear clothing and custom clothing, as well as apparel contractors who cut or sew on materials that belong to others, jobbers who engage in entrepreneurial activities related to apparel manufacturing, tailors who create unique garments for specific customers, and businesses that combine knitting with the production of complete garments, with the exception of manufacturers of knitting fabric that is not combined. The apparel sector employs businesses that make clothes like shirts, T-shirts, coats, socks, uniforms, caps, hats, neckties, and belts. Cotton, linen, polyester, and other textiles are used to make clothing.
Clothing Industry Size
The value of the global apparel market fell at a compound annual growth rate (CAGR) of -0.6% from 2015 and was estimated to be about $527.1 billion in 2020.
The fall over the course of history is primarily attributable to the lockdown and social segregation standards established by different nations as well as the global economic slowdown brought on by the COVID-19 outbreak and the containment measures. After that, the apparel industry is anticipated to bounce back and expand at a CAGR of 9.8%, reaching $842.7 billion in 2025 and $1,138.8 billion in 2030.
Strong economic growth in emerging nations, an increase in foreign direct investments, rising demand for man-made fibres, and technological advancement all contributed to expansion in the global garment market over the course of history. Lack of labour and raw materials, as well as rising inventory levels brought on by a lack of certainty in the demand for garments, were factors that had a detrimental impact on growth during the historical period. The worldwide apparel market will expand in the next years as a result of rising social media use, rising motorbike sales, expanding e-commerce, and rising demand for sportswear and performance clothes. Future factors that could impede the expansion of the garment market include restrictions on free trade, fake goods, a lack of cotton output, and an unprecedented coronavirus outbreak.
For More Insights Download Sample
Global Clothing Market: Major Players
Adidas
H&M
Cartier
Gucci
Hermes International S.A.
Louis Vuitton
Nike Inc
Uniqlo
Rolex
Zara
Global Clothing Market: Types
T-shirts
Hoodies
Polo shirts
Underwear
Others
Global Clothing Market: Applications
Men
Women
Kids
The contemporary era is what gave rise to the fashion business. Before the middle of the 19th century, almost all clothing was produced specifically for each person, either at home or on demand from dressmakers and tailors. By the turn of the 20th century, mass-produced clothes in predetermined sizes were being offered at set prices due to the development of new technologies like the sewing machine, the rise of global capitalism and the factory system of production, and the proliferation of retail outlets like department stores. Despite the fact that the fashion business originated in Europe and America, it is now a transnational industry with apparel frequently designed in one nation, produced in another, and sold in a third. For instance, Employment significantly decreased as production shifted more and more overseas, particularly to China. It is challenging to get aggregate estimates for global output of textiles and clothing because data on the fashion industry are often reported for national economies and expressed in terms of the industry’s numerous distinct segments. However, the industry unquestionably contributes significantly to global economic output by any standard.
