Clothing and Footwear Market Size, Trends and Analysis by Regional and Category Performance, Brands and Forecast to 2028

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Reasons to buy the ‘Clothing and Footwear’ market report:

  • Gain a comprehensive view of the global clothing and footwear market and forecasts to 2028.
  • Explore new opportunities that will allow you to align your product offerings and strategies to meet demand.
  • Investigate current and forecast trends in clothing and footwear to identify the opportunities offering the most potential.
  • Understand who the main competitors are in the global clothing and footwear market and their price positioning.

How is our ‘Clothing and Footwear’ report unique from other reports in the market?

  • Get a comprehensive overview of the global clothing and footwear market.
  • Access the historical and forecast valuations of the clothing and footwear market.
  • Identify the key growth drivers as well as the inhibitors posing challenges.
  • Identify the key trends shaping the clothing and footwear market to gain a competitive edge.
  • Assess the top 20 retailers associated with the clothing and footwear market to understand the competitive landscape better.

We recommend this valuable source of information to anyone involved in:

  • ​​Retail/Textile/Apparel/Footwear Leaders and Startups
  • Stakeholders Within the Entire Value Chain -Manufacturers/Suppliers/Merchandisers/Distribution
  • Business Development and Market Intelligence
  • Investment Analysts and Portfolio Managers
  • Professional Services – Investment Banks, PE/VC firms
  • M&A/Investment, Management Consultants, and Consulting Firms

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Clothing and Footwear Market Report Overview

The clothing and footwear market size was valued at $2,086 billion in 2023 and the market will grow at a CAGR of more than 3% during 2023-2028. The following are some of the key highlights of the clothing and footwear market:

  • The market growth will improve in the forecast years as inflation softens.
  • Market prospects for clothing and footwear will remain muted as consumers prioritize capsule wardrobes and divert spend to second-hand.
  • The sportswear market was an undeniable winner of the pandemic and experienced remarkable growth. This was because consumers prioritized comfort wardrobes to accommodate staying at home, while many took up new sports and fitness activities.

Clothing & Footwear Market Outlook 2023-2028 ($ Billion)

Clothing & Footwear Market Outlook 2023-2028 ($ Billion)

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The clothing and footwear market report offers comprehensive insight and analysis of the Clothing & footwear market, the major players, the key trends, and consumer attitudes. The report also includes consumer data from 2023.

Market Size (2023) $2,086 billion
CAGR (2023-2028) >3%
Forecast Period 2023-2028
Historical Period 2018-2022
Key Regions ·       Europe

·       The Americas

·       Asia-Pacific

·       Middle East and Africa

Key Categories ·       Clothing

·       Footwear

·       Accessories

Key Footwear Brand Profiles ·       Shein

·       Zara

·       H&M

·       Walmart

Key Channels

 

·       Clothing and Footwear Specialists

·       Online Specialists

·       Other Online Retail

·       Department Stores

·        Other Offline Specialist

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Clothing and Footwear Market Drivers

A few of the clothing and footwear market drivers are an expansion of online channels and the development of emerging markets in Eastern Europe and South-East Asia.

Expansion of Online Channels: Online channels will continue to expand, with online penetration set to grow significantly by 2028. Consumers will remain driven by enhanced accessibility and convenience, as well as technological advancements like AI and augmented reality.

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Clothing and Footwear Market Trends

Fashion’s continued casualization will drive sportswear outperformance. The sportswear market was an undeniable winner of the pandemic, experiencing remarkable growth as consumers prioritized comfort from their wardrobes to accommodate staying at home, while many took up new sports and fitness activities. Demand remained strong post-pandemic in 2022, as consumers continued to favor comfort and resonate with the athleisure aesthetic. However, in 2023, sportswear became the latest market to be hit by ongoing inflationary pressures in Europe and the US, with sports players such as Nike, Puma, and JD Sports reporting slowing demand as the year progressed. Additionally, athleisure will remain a significant driver within the sportswear market.

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Clothing and Footwear Market Segmentation by Categories

The key categories of the clothing and footwear market are clothing, footwear, and accessories. Clothing dominated the clothing and footwear market in 2023.

Clothing and Footwear Market Analysis by Categories, 2023 (%)

Clothing and Footwear Market Analysis by Categories, 2023 (%)

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Clothing and Footwear Market Segmentation by Region

The key regions of the clothing and footwear market are the Americas, Europe, Asia-Pacific, and Middle East, and Africa. In 2023, Asia-Pacific was the leading region in the clothing and footwear market.

Clothing and Footwear Market Analysis by Region, 2023 (%)

Clothing and Footwear Market Analysis by Region, 2023 (%)

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Clothing and Footwear Market Analysis by Channel Growth

The key channels in the clothing and footwear market are clothing and footwear specialists, online specialists, other online retailers, department stores, and other offline specialists. Clothing and footwear specialists had the highest share in 2023.

Footwear Market Analysis by Channel Growth, 2023 (%)

Footwear Market Analysis by Channel Growth, 2023 (%)

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Clothing and Footwear Market – Competitive Landscape

The key competitors in the clothing and footwear market are Shein, Zara, H&M, and Walmart. Shein’s exponential growth led it to become the largest retailer in 2023.

Clothing and Footwear Market Analysis by Brand Profiles, 2023 (%)

Clothing and Footwear Market Analysis by Brand Profiles, 2023 (%)

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Key Segments Covered in the Clothing and Footwear Market Report

Clothing and Footwear Category Outlook (Value, USD Billion, 2018-2028)

  • Clothing
  • Footwear
  • Accessories

Clothing and Footwear Regional Outlook (Value, USD Billion, 2018-2028)

  • Europe
  • Asia-Pacific
  • The Americas
  • Middle East and Africa

Clothing and Footwear Channels Outlook (Value, USD Billion, 2018-2028)

  • Clothing, Footwear and Accessories Specialists
  • Online Specialists
  • Other Online Retail
  • Department Stores
  • OtherOffline Specialist

Key Highlights

Growth will remain inhibited by inflation in 2024.

Shein became the largest global retailer in 2023 due to its unbeatable prices and vast assortment.

Shein
Zara
H&M
Walmart
Target
Nike
Amazon
Uniqlo
Alibaba
Marshalls
JD.Com
Ross Dress for Less
TJ Maxx
Macy’s
Primark
Kohl`s
Louis Vuitton
Hermès
Zalando
Vip.com

Table of Contents

  • 1. Executive Summary
  • 2. Key Trends in the Global Clothing & Footwear Market

    • 2.1. Drivers & Inhibitors
    • 2.2. Fashion’s continued casualization will drive sportswear outperformance
    • 2.3. Sustainability is still proving a complex challenge for the fashion industry
    • 2.4. Blended multichannel propositions will be key to succeed in the future
    • 2.5. Retailer Strategies for Success

  • 3. Global Market Size, 2018-2028
  • 4. Regional Performance, 2018-2028
  • 5. Category Performance, 2018-2028
  • 6. Competitive Landscape: Market Shares & Retailer Profiles

    • 6.1. Top 20 brands 2022 & 2023
    • 6.2. Retailers in Focus: Shein
    • 6.3. Retailers in Focus: Zara
    • 6.4. Retailers in Focus: Nike
    • 6.5. Retailers in Focus: Uniqlo
    • 6.6. Retailers to Watch

  • 7. Consumers
  • 8. Methodology
  • 9. Contact us

Table

Channels used to purchase Clothing & Footwear in Key Markets, 2023

Factors That Most Influence Clothing & Footwear Purchases in Key Markets

Figures

Global Clothing & Footwear Market Value, 2018, 2023 & 2028(f) ($ bn) with five-year CAGR (%)

Global Clothing & Footwear Market Value ($ bn) 2018-2028, and Annual Growth (%)

Global Clothing & Footwear Online Market ($ bn) and Online Penetration (%), 2018-2028

Online and Offline Growth (%) within the Global Clothing & Footwear Market, 2018-2028

Channel Shares (%) within the Global Clothing & Footwear Market, 2018, 2023 & 2028(f)

Share of Global Clothing & Footwear Market by Region (%) 2018, 2023(f) & 2028(f)

Regional Growth (%) within the Global Clothing & Footwear Market, 2018-2028

Top 10 Global Clothing & Footwear Markets by Value ($ bn), 2023(f), 2024(f) & 2028(f)

Top 10 Global Clothing & Footwear Markets by CAGR (%) 2023-2028

Top 10 Global Clothing & Footwear Markets by Online Sales ($ bn), 2023(f), 2024(f) & 2028(f)

Share of Global Clothing & Footwear Market by Category (%) 2018, 2023(f) & 2028(f)

Global Clothing & Footwear Categories by Value ($ bn), 2023(f), 2024(f) & 2028(f)

Top 20 Retailers by Market Share (%), 2022 & 2023 with Change in Share 2022-2023 (ppts)

Clothing & Footwear Shopper Penetration & Profile in Key Markets, 2023

How Frequently Consumers Purchase Clothing & Footwear in Key Markets

Clothing & Footwear Fashion Preferences & Attitudes

Clothing & Footwear Purchase Drivers

Frequently asked questions

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