The clothing footwear accessories global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Clothing Footwear Accessories Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The clothing footwear accessories market size has grown strongly in recent years. It will grow from $2,011.90 billion in 2023 to $2,128.13 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increasing consumer spending on fashion, a rise in fast fashion brands, increasing disposable wealth, growth in demand for athletic wear, and a rise in demand for multifunctional accessories.
The clothing footwear accessories market size is expected to see strong growth in the next few years. It will grow to $2,678.89 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing consumer demand for sustainable fashion, increasing popularity of online shopping, increasing investment in smart clothing technologies, rising demand for luxury and premium products, and rising awareness of climate change’s impact on fashion. Major trends in the forecast period include technological advancements, nostalgic fashion, smart clothing, the adoption of digital fashion, and athletic wear.
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Scope Of Clothing Footwear Accessories Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Clothing Footwear Accessories Market Overview
Market Drivers –
The growing demand for e-commerce is expected to propel the growth of the clothing, footwear, and accessories market. E-commerce, short for electronic commerce, refers to the buying and selling goods and services over the Internet. The demand for e-commerce is due to several factors, such as mobile technology, digital marketing, logistics, supply chain management advances, AI to personalize the buying experience and buy-now-pay-later services. Online shopping offers unparalleled convenience, allowing consumers to browse, compare, and purchase products anytime without leaving their homes. This convenience is particularly appealing to busy consumers and those who prefer to avoid crowded stores. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, U.S. retail e-commerce sales totaled approximately $289.2 billion, marking a 2.1% increase (±0.7%) from the fourth quarter of 2023. Therefore, the growing demand for e-commerce drives the clothing, footwear, and accessories market.
Market Trends –
Major companies operating in the clothing, footwear, and accessories market are focused on developing innovative products, such as smart shoes, to enhance performance, improve comfort, and integrate with digital lifestyles, meeting the evolving needs of tech-savvy consumers. Smart shoes are a type of footwear that incorporates various sensors, connectivity, and data analytics to provide enhanced functionality, performance tracking, and personalized insights to the wearer. For instance, in January 2023, Ajanta Shoes, an India-based company that manufactures technologically advanced footwear, launched NAVIGATOR, an AI-inspired smart shoe. The shoe offers features like accurate step tracking, workout tracking, fall detection, quick call dialing, access to music apps and websites, and other customizable controls through simple taps and gestures. The Navigator leverages gyroscopic technology and is manufactured predominantly using Indian resources, aiming to revolutionize the footwear industry. This development has been made possible by Ajanta’s dedication to utilizing cutting-edge technology, supported by the formidable research and development team at Impakto.
The clothing footwear accessories market covered in this report is segmented –
1) By Product Type: Footwear, Apparel, Wallets, Handbags, Watches, Other Products
2) By Distribution Channel: Offline Channel, Online Channel
3) By End User: Men, Women, Kids or Children, Unisex
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Regional Insights –
Asia-Pacific was the largest region in the clothing footwear accessories market in 2023. The regions covered in the clothing footwear accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the clothing footwear accessories market are Nike Inc., Industria de Diseño Textil S.A., EssilorLuxottica Group, Adidas AG, Hennes & Mauritz AB, Kering, Fast Retailing Co. Ltd., The Gap Inc., Hermès International S.A., VF Corporation, PVH Corp., Lululemon Athletica Inc., Skechers USA Inc., Tapestry Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour, Capri Holdings Limited, Prada SpA, Burberry Group, Tommy Hilfiger B.V., Columbia Sportswear Company, Deckers Outdoor Corporation, Wolverine World Wide Inc., Kate Spade
Table of Contents
1. Executive Summary
2. Clothing Footwear Accessories Market Report Structure
3. Clothing Footwear Accessories Market Trends And Strategies
4. Clothing Footwear Accessories Market – Macro Economic Scenario
5. Clothing Footwear Accessories Market Size And Growth
…..
27. Clothing Footwear Accessories Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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