WiseGuyReports.com adds “Global Fashion Market Research Report 2020 Analysis and Forecast 2027” reports to its database.
— Fashion Market:
Global Fashion Market is valued approximately at USD 300 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.20% over the forecast period 2020-2027. Fashion is a widespread aesthetic expression at a specific time, place and in a specific context, in clothing, footwear, lifestyle, accessories, makeup, hairstyle, and body proportions. The Fashion market is primarily driven owing to surging urbanization in both developed and developing countries which has led to an increased demand for Fashion goods mainly apparels. Also, the growing presence of strong sales channel mainly, retail stores and e-commerce fuel the market growth. For Instance: As per Statista, the US apparel market reached approximately USD 368 billion in 2019 generated from a USD 268 billion worth of sales from Retail stores and a USD 100 billion worth sales from e-commerce which was an increase from its value in 2018 accounting to USD 341.6 billion. Also, escalating disposable income of the individuals and presence of many brands operating in fashion sector across the globe. These brands demonstrate their clothing lines through Fashion events which acts as a hub for Fashion companies. For Instance: it has helped to uphold majority of fashion events in France as all-round the year approximately more than 300 fashion events are held in the country. The major event of all is the Paris Fashion week which is held twice every year. And as per the Federation De La Haute Conture (French Federation of Fashion and of Ready of wear Couturies and Fashion Designrs) the Fashion week brings in USD 1.35 billion of economic spinoffs yearly of which USD 493 million comes from the impact of fashion shows and events while USD 813 million is the impact from the trade fairs brought in during these Events. However, Constantly Changing Consumer Preferences impedes the growth of the market over the forecast period of 2020-2027. Although, advancements in the Apparels such as incorporation of multiple health sensors in day to day clothing presents a lucrative opportunity during the forecast period. For Instance: In 2018, the Ministry of Supply, a company based in Boston, US launched its Mercury Intelligent Heated Jacket. The Smart jacket includes features like thermostats and motion sensors which adjust the apparel’s heating elements.
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The regional analysis of global Fashion market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing demand for Fashion products and increasing adoption of Smart wear in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising population and changing lifestyles would create lucrative growth prospects for the Fashion market across Asia-Pacific region.
Major market player included in this report are:
Hermes International SA
Industria De Diseno Textil, SA
Luxottica Group SpA
LVMH / Louis Vuitton SE
L Brands Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Jewelry and Accessories
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Fashion Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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