Women apparel: Key market research findings
- Fashion consciousness and celebrity endorsement
- Rise in number of private label brands and smaller manufacturers
- Leading market players include Gap, LVMH, PVH, Inditex, Nike, Kering, L Brands, and H&M
Technavio’s market research analysts predict the global women apparel market to grow at a CAGR of around 3% between 2016 and 2020. Women’s apparel constitutes the largest segment of the womenswear market across the globe and generates more than three-fourth of the global market’s revenue. The growing fashion consciousness and evolving fashion trends are primarily driving the growth of the women apparel market. Currently, the market is witnessing huge shift to developing regions where the vendors are introducing western fashion trends to attract more consumers. They are extending their operations in these emerging markets through their specialty retail stores and are also collaborating with department stores or through online retail channels. Europe was the largest revenue-contributing region in the global market for women apparel in 2015 and occupied around 33% of the total market revenue. Much of the region’s growth can be attributed to the growing number of fashion-conscious consumers and specialty store retailers.
The new market research report from Technavio provides a breakdown and analysis of the women apparel segments by technology.
“There is a steep increase in the number of private label brands in the global women’s apparel market. This has posed a serious threat for the global and regional vendors, further intensifying the competition in the market. Private labels are challenging the retail prices of branded labels. They are offering affordable products to consumers, without compromising on their quality. Some of the major private label brands include Philosophy and Jeanious from Grupo Sunborns’ Sears department stores in Mexico. The growing presence of these brands is expected to positively influence the market, especially in terms of attracting consumer interest, during the forecast period,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research
The women tops segment will be the dominating segment in the women apparel market during the forecast period and is anticipated to occupy around 37% of the total market share by 2020. This segment is growing at the third-highest growth rate among other women apparel products. Tops will continue to account for the largest share of value sales among all types of women apparel, with the sales growth driven by the replacement requirements and high buying frequency. Moreover, the demand for women tops will continue to grow due to the continual shifts in fashion trends as the upper body clothing constitutes the centerpiece of most outfits.
The key vendors in the global women apparel market are Gap, LVMH, PVH, Inditex, Nike, Kering, L Brands, and H&M. The market is marked by the presence of both regional and international vendors, where the latter dominates the global market with their wide range of product lines and globally popular fashion brands. These players are focusing on developing markets such as APAC and South America. New entrants and existing players in the apparel industry are likely to enter the market because of its potential for high profits and its growing consumer base.
A more detailed analysis is available in the Technavio report, Global Women Apparel Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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