Global Apparel and Footwear Market Size to Reach USD 6,960.98 Billion in 2032 | Emergen Research

Increasing working population incorporating fitness regimes in their daily routine is a key factor driving apparel and footwear market revenue growth

Vancouver, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The global apparel and footwear market size was USD 1,268.24 Billion in 2022 and is expected to register a steady revenue CAGR of 18.5% during the forecast period, according to latest analysis by Emergen Research. Increasing working population incorporating fitness regimes in their daily routine is a key factor driving market revenue growth. Apparel and footwear are made up of diverse materials such as leather, rubber, plastic, and fabric. Among these, leather is one of the leading materials adopted for fabricating footwear.  A 2022 survey conducted by First Insight and Baker Retailing Center at the Wharton School of University of Pennsylvania, in collaboration with the World Economic Forum, revealed that individuals across various age groups are now more willing to allocate larger portions of their budgets to sustainable products compared to their preferences two years ago.

Consumers are incorporating regular exercise routines into their everyday activities, including visiting the gym, engaging in yoga sessions, or going for runs. Athleisure serves as a versatile choice that bridges the gap between traditional work attire and sportswear, offering a suitable option that aligns with the modern work-from-home setting. In addition, rising number of collaborations among athleisure brands is another key factor driving revenue growth of the market. For instance, on 4 May, 2023, PUMA and Formula 1 announced a long-term partnership that appoints PUMA as the official supplier of Formula 1 clothing, footwear, and accessories. This strategic alliance between PUMA and Formula 1 provides fans of the sport with an opportunity to express their passion for Formula 1 through their personal fashion preferences.

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Three Dimensional (3D) printing is a new technology being adopted to manufacture apparel and footwear, particularly in the realm of customization. For instance, this printing enables the creation of bespoke footwear that perfectly matches an individual's foot shape and movement patterns, thus enhancing both comfort and overall performance. For example, Adidas introduced a limited edition of 3D-printed shoes known as FutureCraft 3D. The brand's latest innovation, FutureCraft 4D, is a collaboration with Carbon 3D and introduces a groundbreaking process called Digital Light Synthesis. This method utilizes digital light projection, oxygen-permeable optics, and liquid resin to produce robust and durable polymeric products. This technological advancement results in FutureCraft 4D shoes that provide personalized support to athletes while also allowing for mass customization.

Scope of Research

Report DetailsOutcome
Market Size in 2022USD   1,268.24  Billion
CAGR (2023–2032)18.5 %
Revenue Forecast To 2032USD  6,960.98 Billion
Base Year For Estimation2022
Historical Data2020-2021
Forecast Period2023–2032
Quantitative UnitsRevenue in USD Billion and CAGR in % from 2023 to 2032
Report CoverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
 Segments CoveredType, price range, material, body size, gender, distribution channel, and region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country ScopeU.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies ProfiledNike, Inc., Puma SE, Adidas Group, Gap Inc., Calvin Klein, Inditex, S.A. (Zara), Ross Stores, Inc., Coach, Louis Vuitton, Chanel, Skechers USA, Inc., Biba Fashion Limited, Burberry Group plc, Asos plc, VF Corporation, H&M, Under Armour, Inc., NNNOW (Tommy Hilfiger Corporation), F21 IPCo, LLC., and New Balance
Customization Scope10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global apparel and footwear market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective spectrum analyzers. Some major players included in the global apparel and footwear market report are:

  • Nike, Inc.
  • Puma SE
  • Adidas Group
  • Gap Inc.
  • Calvin Klein
  • Inditex, S.A. (Zara)
  • Ross Stores, Inc.
  • Coach
  • Louis Vuitton
  • Chanel
  • Skechers USA, Inc.
  • Biba Fashion Limited
  • Burberry Group plc
  • Asos plc
  • VF Corporation
  • H&M
  • Under Armour, Inc.
  • NNNOW (Tommy Hilfiger Corporation)
  • F21 IPCo, LLC.
  • New Balance  
  • among others

Strategic Development

On 25 July 2023, House of Blueberry, the virtual fashion label, collaborated with Paramount Consumer Products to introduce a collection of virtual wearables on Roblox, drawing inspiration from the movie Clueless. The House of Blueberry X Clueless assortment takes its cues from the iconic ensembles worn by Cher, Dionne, and Tai in the popular 1995 film from Paramount Pictures. Shoppers will have the opportunity to explore the collection within an engaging 3D pop-up store that captures the essence of Clueless. This interactive showroom, modeled after Cher's closet, allows for a unique shopping experience.

On 25 May 2023 ,Hill House Home successfully commenced its operations in the U.K. The launch was commemorated with the inauguration of a fresh warehouse located in Essex, England. This establishment aims to expedite shipping and returns for UK clientele.

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Some Key Highlights From the Report

  • The luxury and high end segment is expected to account for largest revenue share in the global apparel and footwear market over the forecast period. This is due to rising disposable income, impact of social media marketing and influencers, and increasing use of e-commerce platforms. This has made it easier for consumers to explore and purchase high-end fashion items, along with scope of value appreciation of the products over time. Luxury fashion labels frequently manufacture only a limited number of their items. This limited availability further enhances the need for these products, which is motivating consumers to buy before these become unavailable.
  • Distinguished footwear labels, such as Nike, have teamed up with well-known fashion designers including Virgil Abloh, giving rise to exclusive and limited-edition sneaker collections such as Off-White x Nike series. Similarly, luxury brands have entered into collaborations within the streetwear realm. For instance, the streetwear brand Supreme has joined forces with prestigious brands, such as Louis Vuitton, establishing a fusion between street culture and high-end fashion.
  • High-end labels frequently join forces with renowned fashion designers to create exclusive limited-edition collections. For instance, H&M has collaborated with notable designers including Karl Lagerfeld, Alexander Wang, and Balmain, resulting in highly coveted collections that offer designer pieces at more accessible price points. Luxury brands also engage in partnerships with celebrities to craft products on unique fashion lines. For example, Rihanna's collaboration with LVMH for her fashion brand, Fenty, which has gained acclaim for its innovative style and commitment to inclusivity. In addition, luxury brands occasionally collaborate with sports brands, as exemplified by Louis Vuitton's partnership with the NBA, producing exclusive basketball-themed apparel and accessories.
  • Certain high-end labels provide personalized and bespoke services, enabling customers to precisely adjust their apparel and footwear according to their distinct tastes and individual measurements. Prominent luxury tailoring brands, exemplified by Savile Row in London, provide tailored suit services where customers have the freedom to pick their preferred fabric, style, and specific details such as lapel design and pocket styles. Similarly, renowned fashion houses such as Burberry and Gucci, offer personalized monogramming options on clothing articles including scarves, shirts, and handbags, allowing customers to have their initials or names embroidered or printed on these items.
  • Moreover, various prominent shoemakers such as John Lobb and Berluti, extend bespoke services for shoes, granting customers the ability to select leather type, color, sole style, and even the shoe's shape.
  • Also, high-end brands including Raymond and Louis Philippe, as well as luxury names such as Armani, Versace, Zegna, Cadini, and Canali, offer made-to-measure services. While, premium labels such as Van Heusen's MY FIT and Creyate by the Arvind Group, have introduced bespoke tailoring to cater to the increasing need among Indian men for personalized, custom-fit garments to suit individual’s needs.
  • The Internet retailing segment is expected to register steadily fast revenue growth rate in the global apparel and footwear market over the forecast period. This is due to increasing number of online shopping platforms because of convenience, ease of price comparisons, transparent transactions, versatile payment methods, and flexible return and exchange policies. Various payment options, such as credit cards, digital wallets, and alternative payment options including Buy-Now-Pay-Later (BNPL), offer consumers versatility, accommodating their diverse preferences and financial circumstances. In the realm of online retail, digital sellers often utilize algorithms to suggest products based on a consumer's prior online browsing and purchasing patterns. This customized method assists shoppers in discovering items that match their distinct preferences and fashion choices. Moreover, online retailers often provide flexible return and exchange policies, offering convenience to customers who need to return items that do not meet their expectations.
  • The North America market accounted for largest revenue share in the global apparel and footwear market in 2022. This is due to rising demand for gender-neutral fashion, shifting consumer’s preference toward sustainable fashion especially by generation Z and millennials, along with incorporation of various technological advancements such as Three Dimensional (3D) printing and Virtual Reality (VR), and Augmented Reality (AR).
  • The U.S. market is witnessing rising interest in gender-neutral fashion. For example, as reported by Lyst, a global fashion shopping platform, searches for fashion products featuring gender-neutral terms have increased by 33% this year.
  • Various major companies are launching new initiatives, for instance, Levi’s launched ’Buy Better, Wear Longer‘ initiative. As a demonstration of their dedication to sustainability, Levi's joined forces with Gannì on 23 August, 2022, for a substantial campaign. This partnership showcased Emma Chamberlain and her contemporaries donning attire made using eco-friendly practices such as natural dyes and water-saving methods.
  • Companies are also entering the Metaverse, which opens up new opportunities for garment and footwear sellers by enhancing consumer’s experience and promote efficiency. On 28 April, 2022, Nike unveiled the Nike Dunk Genesis Cryptokicks, which consists of 20,000 sneakers offered as NFTs for sale. Similarly, on 14 November, 2022, the well-known brand embarked on a new venture in the metaverse called ’ Swoosh,’ a Web3-powered platform that enables people to acquire its virtual products.
  • On 28 September 2022, Lululemon Athletica Inc. announced the opening of its new service through Lululemon studio and made an effort to interact with its customers. The Lululemon Studio Mirror, app, and in-person access will all be available for using the studio. Y7 Studio members would get discounts on Lululemon products, early access to activities from reputable online studio businesses such as AARMY, additional benefits, and lululemon events. This launch will help the business increase brand recognition among younger generations and its online presence.

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Emergen Research has segmented the global apparel and footwear market on the basis type, network type, price range, material, body size, gender, distribution channel, and region:

  • Type Outlook (Revenue, USD Billion; 2019-2032)
    • Apparel
      1. Tops
        • T-Shirts
        • Shirts
        • Tank Tops
        • Hoodies
        • Sweatshirts
        • Others
      2. Bottoms
        • Trousers
        • Jeans
        • Leggings
        • Skirts
        • Culottes
        • Shorts
        • Formal Pants
        • Others
      3. Dresses
        • Maxi Dresses
        • Mini Dresses
        • Formal Dresses
        • Bodycon Dresses
        • Casual Dresses
        • A-Line Dresses
        • Wrap Dresses
        • Others
      4. Outerwear
        • Jackets
        • Blazers
        • Shrugs
        • Coats
        • Vests
        • Shrugs
        • Others
    • Footwear
      1. Flats
        • Ballet Flats
        • Moccasins
        • Flip Flops
        • Oxfords
        • Espadrilles
        • Sandals
        • Others
      2. Heels
        • Stilettos
        • Wedges
        • Block Heels
        • Platform Heels
        • Kitten Heels
        • Pumps
        • Others
      3. Boots
        • Ankle Boots
        • Loafer Boots
        • Chelsea Boots
        • Knee-High Boots
        • Combat Boots
        • Hiking Boots
        • Riding Boots
        • Others
      4. Others
  • Price Range Outlook (Revenue, USD Billion; 2019-2032)
    • Luxury and High End
    • Mid-Range
    • Budget Friendly
  • Material Outlook (Revenue, USD Billion; 2019-2032)
    • Apparel Materials
      1. Silk
      2. Cotton
      3. Polyester
      4. Wool
      5. Rayon
      6. Nylon
      7. Modal
      8. Denim
      9. Fleece
      10. Others
    • Footwear Materials
      1. Leather
      2. Faux Leather
      3. Canvas
      4. Mesh
      5. Gore-Tex
      6. Felt
      7. Others
  • Body Size Outlook (Revenue, USD Billion; 2019-2032)
    • Plus Size Apparel and Footwear
    • Petite Apparel and Footwear
    • Tall and Extended Sizes
  • Gender Outlook (Revenue, USD Billion; 2019-2032)
    • Women
    • Men
    • Gender Neutral
  • Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
    • Departmental Stores
    • Specialty Stores
    • Internet Retailing
    • Pop-up Shops and Markets
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019-2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

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