Garment Market Outlook and Forecast from 2024 to 2031
The "Garment Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Garment market is expected to grow annually by 5.00% (CAGR 2024 - 2031).
This entire report is of 169 pages.
Garment Introduction and its Market Analysis
The Garment market research report delves into the current market conditions of the industry, highlighting the increasing demand for clothing worldwide. The target market consists of consumers looking for stylish and affordable apparel, with major factors driving revenue growth including changing fashion trends and increasing disposable income. Companies such as Sritex, Argo Manunggal Group, PT Dan Liris, Pt. Multi Garmenjaya, and Busana Apparel are leading players in the market, offering diverse product offerings and innovative designs. The report's main findings suggest a steady growth trajectory for the Garment market, with recommendations including investing in sustainable and ethical manufacturing practices to meet the evolving consumer demand.
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The garment market is a diverse industry that caters to various segments of the population. From upper body clothing like blouses, shirts, jackets, and sweaters to lower body options like skirts, overalls, and sarongs, there is a wide range of products available in the market. The market also offers a variety of options for different applications, such as formal wear, casual wear, and outdoor wear.
Regulatory and legal factors play a crucial role in the garment market, influencing everything from manufacturing standards to labeling requirements. These factors can vary depending on the country or region, with regulations governing aspects like materials used, sizing standards, and environmental sustainability. Market conditions may also be impacted by trade agreements, labor laws, and consumer protection regulations.
Overall, the garment market is a dynamic and competitive industry that is influenced by a range of regulatory and legal factors. Understanding and complying with these factors is essential for businesses operating in this market to ensure they meet industry standards and remain competitive in a rapidly evolving industry.
Top Featured Companies Dominating the Global Garment Market
The garment market is highly competitive, with various companies vying for market share. Some key players in the garment market include Sritex, Argo Manunggal Group, PT Dan Liris, Pt. Multi Garmenjaya, and Busana Apparel.
Sritex is a leading textile and garment manufacturing company based in Indonesia, known for its high-quality products. Argo Manunggal Group is a diversified company with interests in garment manufacturing, fashion retail, and property development. PT Dan Liris is one of the largest textile and garment manufacturers in Indonesia, producing a wide range of textiles and apparel. Pt. Multi Garmenjaya specializes in producing high-end fashion garments for international markets. Busana Apparel is a well-known garment manufacturer, producing a wide range of fashion apparel for global brands.
These companies use various strategies to compete in the garment market, including investing in cutting-edge technology, maintaining strong relationships with suppliers and customers, and focusing on quality and innovation. By constantly adapting to changing market trends and consumer preferences, these companies help to grow the garment market by offering a diverse range of products and attracting new customers.
In terms of sales revenue, Sritex reported revenue of approximately $ billion in 2020, Argo Manunggal Group reported revenue of around $800 million, PT Dan Liris reported revenue of approximately $600 million, and Pt. Multi Garmenjaya reported revenue of around $400 million. These figures highlight the significant impact that these companies have on the garment market and their contribution to its growth.
- Sritex
- Argo Manunggal Group
- PT Dan Liris
- Pt. Multi Garmenjaya
- Busana Apparel
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Garment Market Analysis, by Type:
- upper body
- lower body
Garments can be broadly categorized into upper body and lower body types. Upper body garments include shirts, blouses, sweaters, jackets, and coats, while lower body garments include pants, skirts, shorts, and leggings. The variety of options within these categories allows consumers to mix and match different pieces to create unique outfits. This versatility boosts demand in the garment market as individuals are constantly looking for new styles and trends to refresh their wardrobe. The availability of a wide range of upper and lower body garments caters to different preferences and body types, further driving up demand in the market.
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Garment Market Analysis, by Application:
- Blouses and shirt-blouses
- Jackets and blazers
- Jerseys and pullovers
- Overcoats, parkas, anoraks, windcheaters, wind jackets and similar articles
- Skirts and divided skirts
- Sarongs
- Bib and Brace overalls
Garments such as blouses, jackets, jerseys, overcoats, skirts, sarongs, and bib and brace overalls are used for various purposes in the fashion industry. Blouses and shirt-blouses add style to women's outfits, while jackets and blazers provide warmth and sophistication. Jerseys and pullovers offer comfort and casual elegance, while overcoats, parkas, anoraks, windcheaters, and wind jackets protect against harsh weather conditions. Skirts and divided skirts are versatile and can be dressed up or down. Sarongs are used as beachwear or casual attire. Bib and Brace overalls are highly functional workwear.
The fastest growing application segment in terms of revenue is jackets and blazers. This is due to a growing demand for fashionable outerwear in the market. Consumers are increasingly seeking versatile and stylish jackets and blazers that can be used for various occasions, driving the growth in this particular garment category.
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Garment Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The garment market in North America is expected to witness significant growth, particularly in the United States and Canada, due to increasing fashion consciousness and disposable income. In Europe, countries like Germany, France, and Italy are leading the market with a strong presence of luxury fashion brands. The Asia-Pacific region, especially China, Japan, and India, is expected to dominate the market in the coming years due to a large consumer base and increasing urbanization. Additionally, Latin America and Middle East & Africa, particularly Mexico, Brazil, and UAE, are also likely to experience substantial growth in the garment market. The market share percent valuation is expected to be highest in the Asia-Pacific region, followed by Europe and North America.
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