Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Online Apparel Market to 2027" report has been added to ResearchAndMarkets.com's offering.
A recent study on the global online apparel market has been published, offering a comprehensive analysis of historical data and forecasts through to 2027. The report dissects key trends, sales, growth rates, and competitive standings in different regions and categories within the online apparel industry.
Despite the recent challenges faced by the pandemic and the subsequent re-opening of physical stores, the online apparel market has maintained an impressive growth trajectory. In 2022, the market witnessed sales of $538.8bn, a significant 44.2% increase compared to 2019. Looking ahead, the market is expected to continue expanding, with projections indicating a 4.0% growth in 2023 and a healthy compound annual growth rate (CAGR) of 6.5% from 2022 to 2027. Factors contributing to this growth include the subsiding impact of inflation and the strategic enhancement of online retail propositions by key market players.
Regional Growth Highlights
Emerging markets are showing particular promise within the online apparel sector. Notably, the Middle East and Africa region, while currently the smallest market, is forecasted to witness the most robust growth. Projections for 2023 show the market expanding by a striking 16.0%, with an anticipated CAGR of 13.2% from 2023 to 2027.
Trends in Online Apparel Brands
The landscape of online apparel brands is seeing dynamic shifts, primarily driven by the exponential growth of online specialists, who tend to have advanced technological capabilities and more efficient delivery systems. A key player, Shein, has experienced a striking increase in its market share—a rise of approximately 2.1 percentage points from 2021 to 2023, positioning it at 4.9% and surpassing established giants such as Amazon and Nike.
Online sales remain robust in the competitive yet transformative retail environment. In a significant development, the Asia Pacific region is anticipated to surpass the Americas, becoming the largest online apparel market.
Major Findings and Reasons for Market Dynamics
- Consistent Online Sales Growth: The market is anticipated to experience a steady rise with a forecasted CAGR of 6.5% from 2022 to 2027.
- Shein's Rise to Prominence: With strategic market positioning, Shein has become a leading brand and retailer in the online apparel marketplace.
- Asia Pacific Market Expansion: This region is on course to become the global leader in online apparel sales.
The report underscores the shifting dynamics of the global online apparel market and lends insight into the driving forces behind its expansion. It offers a nuanced, data-driven perspective on regional and category-specific growth, ensuring stakeholders have the intelligence required to navigate the evolving landscape of online apparel retail. For those looking to comprehend the factors driving the online apparel market, this publication provides an essential overview of the current state of the market and lucid forecasts to 2027.
A selection of companies mentioned in this report includes
- Shein
- ASOS
- Zalando
- Next
- ABOUT YOU
- Cider
- White Fox
- Adornmonde
- BOA
- Arne
For more information about this report visit https://www.researchandmarkets.com/r/ch9nen
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
