The clothing segment is among the most popular selling product categories in the retail industry. Clothing has varieties across different age groups and includes Menswear, Womenswear, and kid’s wear.
From the Asia-Pacific region, China has the highest market size in the clothing segment. Meanwhile, China’s clothing demand is widely influenced by the new generation’s demand as they are often involved in buying new trending clothes.
This is followed by Japan and India which have a significant contribution to the region in the clothing segment.
The clothing segment in Asia-Pacific reached a market value of $570 billion in 2021, witnessing a significant increase of 30% from the previous year this was mainly on account of growth in the retail product categories as the world saw a recovery in the overall demand post-pandemic Covid-19 as both brick & mortar store sales and online businesses resumed their operations after being under restrictions for the period of almost two years along with that more consumer spending on the lifestyle products like clothing.
Asia- Pacific region’s contribution to the global clothing segment market size remained highest with a share of 40%.
Countries in the Asia-Pacific region are highly influenced by their respective famous traditional clothing.
The clothing segment in the region has seen a compound annual growth rate of 2.2% from the period of 2017-2021. The growth was affected in 2020 by the outbreak of the pandemic which lowered consumer spending.
The major clothing players which have a strong position in the Asia-Pacific Clothing industry include Nike, Adidas, and Puma SE.
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