The global women’s apparel market is expected to grow at a CAGR of around three per cent during the next five years. The women’s apparel market in Europe is expected to grow at a CAGR of 2.9 per cent over the forecast period. The major markets for women’s apparel are the UK, Germany, France, Spain, Russia, and Italy. In North America, the primary markets include the US, Mexico, and Canada. The US is the largest country for women’s apparel products in the world. Its contribution to the global market was 29.15 per cent in 2015, and its share in the North America was 92.22 per cent. In the next five years, women’s apparel market in North America is expected to grow at a CAGR of 3.01 per cent.
One of the fastest growing segments is luxury clothing, which is expected to grow at a higher year-over-year rate in terms of sales compared to the mass market. Luxury apparel brands such as Louis Vuitton from LVMH, Gucci from Kering, and Hermès have expanded significantly across the globe during the last five years.
With increasing number of consumers focusing on physical fitness, the active lifestyle clothing segment will also likely have greater demand over the coming years. From 2010-2015, women’s active wear and sportswear sales increased by an average growth rate of more than eight per cent.