Luxury Apparels

Luxury Apparels

Global Luxury Apparel Market to Reach $86.6 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Luxury Apparel estimated at US$69.1 Billion in the year 2020, is projected to reach a revised size of US$86.6 Billion by 2027, growing at a CAGR of 3.3% over the analysis period 2020-2027. Clothing, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach US$50.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Accessories segment is readjusted to a revised 3.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $18.9 Billion, While China is Forecast to Grow at 5.5% CAGR

The Luxury Apparel market in the U.S. is estimated at US$18.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.5 Billion by the year 2027 trailing a CAGR of 5.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.8% and 2.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$10.9 Billion by the year 2027.

Footwear Segment to Record 2.5% CAGR

In the global Footwear segment, USA, Canada, Japan, China and Europe will drive the 2.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.9 Billion in the year 2020 will reach a projected size of US$9.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 2.6% CAGR through the analysis period.

Select Competitors (Total 46 Featured) -

• Burberry Group PLC
• Christian Dior SA
• Coach, Inc.
• Gianni Versace SpA
• Giorgio Armani S.p.A
• Hermes International SA
• Michael Kors
• Nike, Inc.
• Ralph Lauren Corporation
• Tommy Hilfiger

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