The global streetwear market is projected to grow from $193.88 billion in 2023 to $273.15 billion by 2033, with a compound annual growth rate (CAGR) of 3.49 per cent, as per a report by Spherical Insights & Consulting,

The sneakers segment is expected to hold the largest market share throughout the forecast period. This is largely because sneakers are closely tied to street culture, sports, and music, which heavily influence consumer trends and behavior. Owing to its rising popularity, the online segment is anticipated to grab the biggest market share.

Several factors are fueling the growth of the streetwear market. These including growing consumer base, higher disposable income with young consumers and the rise of social media and e-commerce which has accelerated trend cycles and allowed brands to reach consumers directly.

However, this growth is not without challenges. Rising production costs, especially for sustainable materials, are making it difficult for smaller businesses to remain profitable.

North America is expected to hold the largest share of the streetwear market. The region's appeal to companies is driven by consumers who are increasingly opting for stylish clothing, which is now widely used across various industries.

Meanwhile, the Asia-Pacific region is predicted to see the highest CAGR growth. India's streetwear market is a major contributor to this trend, fueled by its expanding middle class, rising living standards, and evolving fashion tastes. As a significant textile supplier, India's growing garment industry further supports the streetwear boom.