Apparel Global Market Report 2020-30: Covid 19 Impact And Recovery

The Business Research Company’s Apparel Global Market Report 2020-30: Covid 19 Impact And Recovery

LONDON, GREATER LONDON, UK, July 2, 2020 /EINPresswire.com/ -- Growing awareness on the adverse effects of the textile industry on the environment is encouraging customers to opt for sustainable materials. Unlike natural materials, synthetic fibers take a long time to decompose as they are made from petroleum products. Biological materials like spider silk are light and have tensile strength that are used in making garments. Some companies also started creating a decomposable synthetic version of spider silk. For example, Spiber Inc., a Japanese biomaterials specialist, was the first to produce artificial spider silk. The company uses genetically modified E.coli to produce the silk proteins which are used to produce silk fibers.

The global apparel market size is expected to decline from $672.3 billion in 2019 to $659.7 billion in 2020 at a compound annual growth rate (CAGR) of -1.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $809.8 billion in 2023.

The apparel market consists of sales of apparel by entities (organizations, sole traders and partnerships) that produce apparel. Apparel producers cut and sew (i.e., purchase fabric and cut and sew to make a garment) and/or produce garments by first knitting fabric and then cutting and sewing the fabric into a garment. The apparel manufacturing industry includes entities manufacturing full lines of ready-to-wear apparel and custom apparel: apparel contractors, performing cutting or sewing operations on materials owned by others; jobbers, performing entrepreneurial functions involved in apparel manufacturing; tailors, manufacturing custom garments for individual clients; and entities that combine knitting with the production of complete garments, but excluding producers of knitting fabric not combined with the produce of complete garments.

The global apparel market share is segmented by type into women's wear, men's wear, and kids wear. By distribution channel, the market is segmented into retail stores and online stores. The subsegments included are dresses & skirts, women's trousers, blouses, women's jerseys, sweatshirts & pullovers, women's coats and jackets, women's suits & ensembles, women's blazers, night & underwear (women & girls), women's t shirts, women's sports & swimwear, other women's wear, men's trousers, men's shirts, men's jerseys, sweatshirts & pullovers, men's coats and jackets, men's blazers, men's suits, night & underwear (men's and boys’), men's t shirts, men's sports & swimwear, other men's wear, infant and toddler clothes, and young children clothes.

Here Is A List Of Similar Reports By The Business Research Company:

Clothing And Apparel Market By Type Of Product (Women’s Wear, Men’s Wear, And Kids Wears) Trends And Market Size – Global Forecast To 2022 (https://www.thebusinessresearchcompany.com/report/apparel-market)

Clothing And Clothing Accessories Stores Global Market Report 2020-30: Covid 19 Impact And Recovery (https://www.thebusinessresearchcompany.com/report/clothing-and-clothing-accessories-stores-global-market-report-2020-30-covid-19-impact-and-recovery)

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Oliver Guirdham
The Business Research Company
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