SAN FRANCISCO, May 11, 2022 /PRNewswire/ — The global e-commerce apparel market size is expected to reach USD 941.0 billion by 2028, registering a CAGR of 7.9% during the forecast period, according to a new report by Grand View Research, Inc. This can be accredited to the growing demand for apparel from developed countries. The boom in the e-commerce segment has been acting as a promoter for global market growth. The luxurious brands which formerly were limited to the superior section of the civilization traveling to fashion destinations like Paris and Milan have embraced people of all classes via the e-commerce channel. Ease of Payments, accessibility, and easy return policies are all producing a push for the market and are expected to accelerate the market growth over the forecast period.
Key Insights & Findings from the report:
In Asia Pacific, the market is expected to witness the fastest CAGR of 8.7% from 2022 to 2028 owing to the growing demand for men’s and children’s apparel from developing nations such as China and India.
The women’s apparel type segment accounted for the highest revenue share of more than 68.0% in 2021 owing to rising demand for these products from developed regions such as Europe and North America.
Europe dominated the market and accounted for revenue share of over 36.0% in 2021 owing to rising demand for women’s apparel as a result of the growing purchasing power of women towards clothing.
The men’s apparel type segment is expected to foresee the second-fastest CAGR of 7.7% from 2022 to 2028 due to growing fashion consciousness amongst millennials.
Request a free sample copy or view report summary, “E-commerce Apparel Market Size, Share & Trends Analysis Report By Type (Women’s Apparel, Men’s Apparel, Children’s Apparel), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2022 – 2028“, published by Grand View Research.
E-commerce Apparel Market Growth & Trends
Moreover, a lockdown circumstance has been observed throughout the COVID-19 pandemic, and it showed an impact on the apparel market due to the delayed supply of raw material products. However, it significantly impacts the supply chain of the apparel market and the manufacturing of apparel products across the globe. Moreover, the increasing acceptance of e-commerce channels from customers owing to changing buying patterns after the COVID pandemic will create opportunities for the market players. Thus, the market is expected to witness a healthy market growth rate over the forecast period.
Promptly developing consumer goods industry in emerging regions such as the Middle East & Africa and the Asia Pacific along with product premiumization are anticipated to further fuel the demand for children’s wear. The availability of a wider range of products along with the growing population, chiefly in developing economies are factors expected to drive the demand. The children’s apparel segment is anticipated to show good growth in this market over the forecast period. This growth is credited to the incremental demand for these products in developed regions such as North America and Europe. Also, this growth is accredited by the high spending capacity of the population in developed countries such as the UK, Germany, and the U.S. Additionally, the growing middle-class population coupled with increasing disposable income and urbanization across the globe are anticipating market growth of this segment.
In North America, the market is projected to show a lucrative growth rate of 8.0% from 2022 to 2028 owing to the rising demand for women’s apparel across the region. Additionally, the U.S. has a vast number of brands actively functioning in the market, which includes Tommy Hilfiger, Ralph Lauren, Hollister, and Calvin Klein. Thus, the market has deep roots in the region and has an enormous influence across the globe. Moreover, changing consumers’ preferences and lifestyles is expected to propel market growth over the forecast period. Thus all these factors are expected to drive the growth of this market in this region.
E-commerce Apparel Market Segmentation
Grand View Research has segmented the global e-commerce apparel market on the basis of type and region:
E-commerce Apparel Market – Type Outlook (Revenue, USD Million, 2017 – 2028)
E-commerce Apparel Market – Regional Outlook (Revenue, USD Million, 2017 – 2028)
Central & South America
Middle East & Africa
List of Key Players in the E-commerce Apparel Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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