This dossier has been compiled to provide statistical information about the global apparel market. The dossier has been broken down into four categories: apparel market overview; key apparel markets; other selected apparel & clothing markets; leading apparel companies; and consumer behaviour.
Table of ContentsApparel market overviewKey apparel marketsSelected categoriesLeading companiesConsumer outlook
1. Apparel market overview
Description: Revenue generated by the global apparel market gradually increased from 2015, up until 2020, when the pandemic heavily impacted retail. In 2022, the revenue of this market was approximately 1.53 trillion U.S. dollars. According to the Consumer Market Outlook, this value will increase to almost 2 trillion U.S. dollars by 2027.
Description: This statistic depicts the revenue of the apparel market in 2021, by country. In that year, the apparel market revenue in the U.S. amounted to approximately 317.6 billion U.S. dollars. For information on over 200 markets in 150 countries, please visit Consumer Market Outlook.
Description: The year on year growth rate for apparel and footwear, as of May 2022, showed significant recovery from the sever losses in 2020 as a result of the pandemic. Overall, apparel retail grew 18.8 percent, with women’s retail showing the greatest increase.
Description: In 2021, European Union was the second leading importer of apparel worldwide, with an import value of around 195 billion U.S. dollars. Japan, ranked third, imported approximately 27 billion U.S. dollars worth of apparel that year.
Description: France is the leading country for the fashion industry in the world, according to the Brands Countries IPX by IFDAQ. Scoring above 3,000 index points, France was ahead of Italy (2,800 points) and the U.S. (2,235 points).
2. Key apparel markets
Description: In 2021, the biggest per country revenue in the women’s apparel market was generated in the United States, amounting to almost 166 billion U.S. dollars. This was followed closely by the Chinese market which generated a revenue of 163.5 billion in 2021. Japan, the United Kingdom, and Germany also ranked highly, with revenues between 39 and 43 billion U.S. dollars.
Description: While women may still be the biggest fashion spenders, it’s the men who lead the race in terms of market growth and this is true across all fashion segments including luxury. In fact according to an article in the Vogue magazine, sales of high-end menswear grew faster than womenswear for three consecutive years leading upto 2018.
Description: In 2020, the biggest per country revenue in the children’s apparel market was generated in the U.S, amounting to over 40 billion U.S. dollars. Followed by the Chinese market which generated a revenue of 39 billion in 2020. India, the United Kingdom, and Japan closed out the top five, with revenues between around 7 and 10 billion U.S. dollars.
Description: The revenue from the accessories market in China was the highest globally with over 102 billion U.S. dollars. Revenue in the United States and India in comparison lay around 94.3 and 78.2 billion dollars. The United Kingdom had by far the highest revenue of European countries, followed by France and Germany.
3. Selected categories
Description: This statistic depicts the value of the luxury apparel market worldwide from 2020 to 2031. In 2020, the global luxury apparel market was valued at approximately 71 billion U.S. dollars, and was forecast to reach a value of 278 billion U.S. dollars by 2031.
Description: This statistic shows the market value of the fast fashion market worldwide from 2021. providing a forecast up until 2026. In 2026, the global market value of fast fashion is forecasted to reach a value of approximately 133 billion U.S. dollars.
Description: In 2021, the global market value of secondhand and resale apparel was estimated to be worth 96 billion U.S. dollars. This value is projected to rise rapidly in the coming years, more than doubling in size from 2021 to 2025, before reaching a value of 218 billion dollars in 2026.
Description: The global sports apparel market was estimated to generate around 191 billion U.S. dollars in revenue in 2022. Rising revenues are forecast to continue and reach around 249 billion U.S. dollars in 2026.
Description: This statistic shows the value of the sneakers market worldwide from 2012 to 2025. In 2020, the total global sneakers market revenue was valued at approximately 70 billion U.S. dollars and was forecast to reach a value of 102 billion U.S. dollars by 2025.
Description: This statistic depicts the revenue of the underwear market in 2022, by country. In that year, the underwear market revenue in the U.S. amounted to approximately 17.8 billion U.S. dollars. For information on over 200 markets in 150 countries, please visit Consumer Market Outlook.
Description: The global denim jeans market was forecast to be worth around 76.1 billion U.S. dollars by 2026, up from 64.5 billion U.S. dollars in 2022. The denim jeans market is a sub-category within the overall apparel market. As the global apparel market grows, it is unsurprising that the denim jeans market will also rise.
4. Leading companies
Description: LVMH was the leading apparel/accessory company worldwide as of the 12-month period to April 2022, generating 75.9 billion U.S. dollars in sales – around 29 billion U.S. dollars more than the next ranked company, Nike.
Description: This ranking from McKinsey depicts the largest fashion companies worldwide by average economic profit over the financial years 2019 to 2021. In this time period, Nike generated the highest profit of all the publicly listed apparel and accessory companies worldwide with an average economic profit of approximately 3.8 billion U.S. dollars.
Description: In September 2022, LVMH was by far the clothing company with the highest market capitalization, at approximately 317 billion U.S. dollars. This was over 150 billion dollars more than Nike, the company in second place. Dior made up the top three companies. Remarkably, the value of LVMH’s market capitalization was approximately as much as the seven companies ranked from fourth to tenth combined. Several of the companies in this list can also be found in the list of leading clothing companies with the highest brand value.
Description: The statistic shows the brand value of the leading apparel brands worldwide as of 2022. Zara was the second most valuable clothing brand worldwide with a brand value of about 25.4 billion U.S. dollars that year.
Description: This statistic depicts the brand value of the leading 10 most valuable luxury brands worldwide in 2022. In that year, Chanel was the ninth most valuable luxury brand worldwide with a brand value of about 53 billion U.S. dollars.
Description: This statistic lists the 20 most transparent fashion companies in the world in 2022. In 2022, OVS was ranked as the joint highest scoring fashion brand in terms of transparency, with a transparency index score of 78 percent. This was twelve percent H&M, with 66 percent.
5. Consumer outlook
Description: The global total consumer spending on clothing and footwear was forecast to continuously increase between 2022 and 2028 by in total 807,708.4 million U.S. dollars (+36.48 percent). The fashion-related spending is estimated to amount to 3,021,947.87 million U.S. dollars in 2028.
Description: The global per capita consumer spending on clothing and footwear was forecast to continuously increase between 2022 and 2028 by in total 107.2 U.S. dollars (+37.04 percent). The fashion-related per capita spending is estimated to amount to 396.62 U.S. dollars in 2028.
Description: This statistic shows a ranking of the estimated worldwide total consumer spending on clothing & footwear in 2020, differentiated by country. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs) in the selected region. Spending by corporations or the state is not included. Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services.
Description: This statistic shows a ranking of the estimated worldwide per capita consumer spending on clothing & footwear in 2020, differentiated by country. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs) in the selected region. Spending by corporations or the state is not included. Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services.
Source fromStatista
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