The market for
garments is facing rapid changes. Many retail brick and mortar stores are
getting closed up or downsized but the demand is ever multiplying due to the
online market space. This trend is expected in the market to continue and is
expected to be fuelled by the growth of e-commerce, mobile users and
personalisation of apparels. The global market for garments is expected to
witness technological upgradation. Textile machinery hubs like Germany, India,
Italy, China are already innovating in the market and these machines are
capable of producing high – quality clothing. The major factors influencing the
growth in the market include rise of environmentally friendly fibres, rising
demand from the developing countries and rising demand for non – woven textile
products.
Ken
Research’s Global Garments Market (2018-2023) gives a detailed analysis on the
global market for garments. The
report provides details about the major challenges impacting the market growth.
The report contains an in-depth analysis of the vendor's profile, which
includes financial health, business units, key business priorities, SWOT,
strategies, and views. The prominent vendors covered in the report include Gap Inc, H&M, Inditex,Kering, L Brands, LVMH,
Nike, Adidas, Calvin Klein and Burton. The report will help the investors make
strategic decisions.
Online platforms
like Amazon and other big regional players are likely to expect rises in their
revenues from the apparel section. Though many consumers use these platforms
for comparison of prices, quality, reviews and offers, the platforms are
looking to integrate various other fashion partners and influencers and try
other engaging methods to boost sales.Research also show about the trends of
sourcing to be diverse from multiple countries and regions that provides
variability in costs, speed and flexibility. But many companies are discovering
new sourcing destinations to reduce the number of vendors they are
collaborating and working with due to social and environmental compliance
costs. Another trend in the market is the onshoring and offshoring that is
becoming much more visible than it used to be.
Region – wise,
China lead the world’s production and exports in both raw textiles and garments
market. This is followed by India and the US. North America is the leading
producer and exporter of raw cotton. Apart from these, there are many
developing countries moving up the ladder like Pakistan, Sri Lanka and other
South American countries. The dynamics of China which is moving towards a service
– based economy, will move the market for garments as well towards the
developing markets.
For more information on the research report, refer to below
link:
Contact Us:-
Ken Research
Ankur Gupta, Head
Marketing & Communications
+91-9015378249
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