Business

Global Market For Branded Apparel To Reach US$ 670.9 Billion By 2026

A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company - Branded Apparel - Global Market Trajectory & Analytics, presents fresh perspectives on opportunities and challenges in a significantly transformed marketplace. The global market for branded apparel estimated at US$ 616.5 billion in 2020, is projected to reach US$ 670.9 billion by 2026, growing at a CAGR of 1.3% over the analysis period, according to the report. Men’s branded apparel, one of the segments analysed in the report, is projected to record a 1.5% CAGR and reach US$ 176.1 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the women’s branded apparel segment is expected to grow at 1.1% CAGR for the next seven year period. According to the report, the US market is estimated at US$ 169.7 billion in 2021, while China is forecast to reach US$ 125.1 billion by 2026, trailing a CAGR of 2.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0% and 1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.4% CAGR. Children’s branded apparel segment to reach US$ 142.9 billion by the year 2026 In the global children’s branded apparel segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$ 97.9 billion in the year 2020 will reach a projected size of US$ 108.4 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.