Ethnic Wear Market Size To Hit USD 126.2 Billion By 2028


 San Francisco, 13 July 2023: The 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

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.

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.

Access Research Report of Ethnic Wear Market @ https://www.grandviewresearch.com/industry-analysis/ethnic-wear-market-report

Ethnic Wear Market Report Highlights

  • 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

Ethnic Wear Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 79.9 billion

Revenue forecast in 2028

USD 126.2 billion

Growth rate

CAGR 6.3% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

List of Key Players of Ethnic Wear Market

  • Biba Apparel
  • Manyavar
  • Shanghai Tang
  • Shimamura co.
  • Wacoal holding Corp.
  • Thebe Magugu
  • Lemlem
  • Afrikrea
  • Global Desi
  • ELIA SAAB
  • Modanisa

Access Press Release of Ethnic Wear Market @ https://www.grandviewresearch.com/press-release/global-ethnic-wear-market

 

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