The global market for Women’s Apparel is projected to reach a revised size of US$1 Trillion by 2027, growing at a compound annual growth rate of 4.6 percent during 2020-2027 period according to a study.
Shirts, Blouses, Dresses & Skirts according to the report are projected to grow at a CAGR of 6.4 percent to reach US$213.3 Billion by the 2027. The implications of the pandemic and the economic crisis it created were factored in the report on growth in the women trousers market that is set to post a CAGR growth by 2027.
The Women’s Apparel market in the U.S. is estimated by the report was at US$203.2 Billion in the year 2020. China despite having almost four times more population, is expected to command women ‘s apparel market of 205 billion by 2027 with a CAGR of 7.3 percent during 2020 to 2027. In the other major markets like Japan and Canada, the growth is expected to clock 2.9 percent and 3.7 percent respectively. In Europe, Germany is in the lead with expected CAGR of approximately 3.5 percent.
The growth in the global Jerseys, Sweatshirts & Pullovers segment, would be led by USA, Canada, Japan, China and Europe with 4.6 percent CAGR. These regional markets accounted for a combined market size of US$78.6 Billion in the year 2020 and are expected to reach US$107.5 Billion by the close of the analysis period.
China, the second largest economy in the world with the world’s largest populationChina will remain among the fastest growing in this cluster of regional markets. The market for Asia-Pacific dominated by consumption in Australia, India, and South Korea, is expected to reach US$131.6 Billion by the year 2027. The Latin America market will expand at 5.2 percent.
