Global Apparel and Footwear Market, By Type (Apparel & Footwear), By Apparel Type (Casual Wear, Sports Wear, Night Wear, and Others), By Footwear Type (Shoes, Slippers and Others), By End-User (Men, Women and Kids), By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online Channels, & Others), By Region, Competition Forecast & Opportunities, 2026
The global apparel and footwear market is forecast to grow at a CAGR of 7.48%, in value terms, to reach USD2605.60 billion by 2026. The global apparel and footwear market is witnessing consistent growth, owing to rising millennial population, increasing disposable income and changing preferences of younger generation. Moreover, brand consciousness and innovative offerings to target customers, and growing e-commerce channels along with robust supply chain networks are fueling the growth of the global apparel and footwear market. Furthermore, factors such as contribution of apparel and footwear products towards the GDP of the country and the entry of various players are positively impacting the apparel and footwear market at the global level.
The apparel and footwear industry is vast with a wide range of product categories ranging from basic to opulent. With changes in design, consumer demand, and shifting retail strategies, the market is volatile. Casual wear, sports wear, night wear, formal wear, inner wear, shoes, sandals, boots, slippers, and other footwear for men, women, and children are all part of this industry. Government temporarily halted all sorts of activities, including production and manufacturing of products, in various parts of the world during the lockdown period. During the peak of the outbreak in countries such as China, raw material and input shortages were a major concern for garment and footwear manufacturers, causing manufacturing disruptions around the world, particularly in Southeast Asian textiles, clothing, leather, and footwear producing countries. As a result of the lockdown, both demand and supply in the apparel and footwear market fell significantly, impeding the market growth. The apparel and footwear market has become an attractive destination for investments and several large multinational companies are entering into this market. This has resulted in the gradual transformation of the market into a branded products market, being dominated by multinational companies.
The global apparel and footwear market can be segregated based on type, apparel type, footwear type, end-user, distribution channel, region and company. In terms of type, the global apparel and footwear market is segmented into two broad segments, namely apparel and footwear. Among these, the apparel segment has dominated the global apparel and footwear market with the majority of market share in 2020 due to the driving factors such as rapidly changing fashion, growing influence of western culture, increasing internet penetration, and the continuous release of changing fashion at lower prices, all supported by aggressive branding. In terms of distribution channel, the global apparel and footwear market is segmented into specialty stores, supermarkets/hypermarkets, online channels, & others. Among these, Specialty stores have dominated the global apparel and footwear market with the majority of market share of around 38% in 2020 and will continue to dominate the market during the forecast period. However, the online channels are expected to increase during the forecast period as they provide high discounts, convenience of doorstep delivery, multiple payment modes and increasing number of smartphone users.
NIKE, Inc., Adidas AG, Industria de Diseño Textil, S.A., H & M Hennes & Mauritz AB, Aditya Birla Fashion and Retail Limited (Includes Peter England, Louis Philippe, Van Heusen, Allen Solly, Pantaloons, etc.), PVH Corp., VF Corporation, Puma SE, Kering SA, Next Plc. are some of the companies operating in the global apparel and footwear market. It is the growing trends towards fitness and fashion because of which companies like “NIKE, Inc.” are leading the apparel and footwear market around the globe.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
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