SAN FRANCISCO, Dec. 2, 2021 /PRNewswire/ -- The global ethnic wear market size is anticipated to reach USD 126.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.3% from 2021 to 2028. Due to globalization, the transfer of culture and tradition, as well as individuals traveling and residing in different countries, there has been a strong demand for ethnic clothing from many nations across the world. Furthermore, the worldwide desire for ethnic dresses at theme-based functions, rent-based models for renting ethnic garments, and the expansion of distribution channels through e-commerce are driving the ethnic wear market.
Key Insights & Findings from the report:
The ethnic wear market is expected to witness a CAGR of 6.3% from 2021 to 2028
The offline segment accounted for the largest revenue share of 63.8% in 2020 and is expected to expand at a CAGR of 6.0% from 2021 to 2028
Among end-users, the women segment is expected to witness the fastest CAGR of 6.6% over the forecast period
Asia Pacific dominated the market and accounted for the largest revenue share in 2020 and is projected to witness a CAGR of 6.5% over the forecast period
Read 80 page market research report, "Ethnic Wear Market Size, Share & Trends Analysis Report By End User (Men, Women, Children), By Distribution Channel (Online, Offline), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts 2021 - 2028", by Grand View Research
Many retailers and global brands introduced more ethnic wear collections into their product line. For Instance, In April 2020, H&M Group, a Swedish retailer announced to introduce a saree collection in collaboration with designer Sabyasachi Mukherjee. In September 2019, Japanese brand Uniqlo launched its first retail store in India and introduced a special kurta collection.
The fashion and textile industry in the Middle East & Northern Africa region is increasing with annual spending for fashion per person in Saudi Arabia and in the UAE being among the highest in the world. The Middle East market represents enormous growth opportunities amid a pessimistic global outlook for the industry. The Middle East still has potential, despite an already well-established fashion market. Several buyers in the region have developed a taste for both modest fashion and homegrown labels that reflect their culture. The demand for ethnic wear including burkhas and hijabs is projected to witness significant growth owing to the increasing availability of products through various brands including Tommy Hilfiger.
Some apparels manufacturers in Africa are initiating to integrate sustainability into their textile and fashion supply chains. The Moroccan government for instance is providing incentives for companies to be sustainably certified. Also, many global brands have implemented environmental priority standards for North Africa's garment producers. Incremental changes in resource-efficient and cleaner production are already taking place in various African sourcing countries. Also, ethically made clothing and apparel are gaining significant traction in the region. This is expected to generate demand for ethically manufactured ethnic wear in the coming years.
The online distribution channel is the fastest-growing segment with a CAGR of 6.1%, the segment demand was driving due to the pandemic. Many brands across the world are focusing to get maximum business through e-commerce as it provides convenience of contactless delivery. The surge in work from home for many employees has resulted in an increase in online businesses of ethnic wear brands.
Grand View Research has segmented the global ethnic wear market on the basis of end user, distribution channel, and region:
Ethnic Wear End-user Outlook (Revenue, USD Million, 2016 - 2028)
Ethnic Wear Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Ethnic Wear Regional Outlook (Revenue, USD Million, 2016 - 2028)
List of Key Players of Ethnic Wear Market
Wacoal holding Corp.
Check out more studies related to clothing and apparel, conducted by Grand View Research:
Smart Textile Market – The global smart textile market size is expected to reach USD 5.55 billion by 2025. Rapidly expanding fashion & entertainment industry across the globe is also expected to propel the market growth in coming years.
Garments Steamer Market – The global garments steamer market size is expected to reach USD 3.36 billion by 2025. The market is estimated to expand at a CAGR of 5.41% from 2019 to 2025.
Winter Wear Market – The global winter wear market size is expected to reach USD 359. 8 billion by 2025. It is expected to grow at a CAGR of 4.3% % from 2019 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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