India Apparel and Footwear Market Research Report: Forecast (2023-2028)
The India Apparel & Footwear Market is projected to grow at a CAGR of around 11.28% during the forecast period, i.e., 2023-28. The apparel and footwear sector includes the production, distribution, and sale of clothing & footwear products. Apparels consist of clothing items like shirts, pants, dresses, jackets, etc., which range from everyday casual wear to fashionable & athletic wear. Footwear refers to the products like shoes, sandals, boots, sneakers, etc., that have been used for a long time to provide comfort & protection to the feet. In the apparel and footwear market, trends and fashion are constantly changing, and companies have been evolving to adapt quickly in order to stay relevant & meet the needs of consumers.
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Market Dynamics
Growth Opportunity: Brands Offering Custom-fit Clothes to Create Opportunity for the Market
The menswear market in the country has been shifting from ready-made clothing to custom-made clothing in recent years. As more & more men who have been purchasing premium or luxury ready-made clothing desire to wear a shirt or a pair of pants that fit them exactly, the trend of custom-fit clothes is currently reviving in India. The term “custom-fit clothes” refers to any item of clothing that has been altered to fit a customer based on their measurements & preferences.
Made-to-measure services are available in India among luxury brands like Armani, Versace, Zegna, Cadini, and Canali, as well as premium brands like Raymond and Louis Philippe. Moreover, high-end companies like Creyate by Arvind Group have started offering bespoke tailoring to capitalize on the rising demand for custom-fit apparel among Indian males. Hence, the reviving trend of custom-fit apparel coupled with the amplifying presence of players in the segment is anticipated to create a significant opportunity for market growth in the forecasted years.
Leading Companies in India Apparel and Footwear Market:
-Aditya Birla Fashion & Retail Ltd
-Page Industries Ltd
-Relaxo Footwears Ltd
-Arvind Lifestyle Brands Ltd
-Lifestyle International Pvt Ltd
-Future Lifestyle Fashions Ltd
-Bata India Ltd
-Lux Hosiery Industries Ltd
-Paragon Group Ltd
-Rupa & Co
-H & M Hennes & Mauritz India Pvt Ltd
-Others
Segmentation of the Industry
The India Apparel and Footwear Market is highly fragmented and bifurcates into the following segmentations:
By Category
-Apparel
-Footwear
-Age Group
-Less than 1 Year
-1.1 to 2 Years
-2.1 to 5 Years
-6 to 10 Years
-11 to 15 Years
-16 to 20 Years
-21 to 30 Years
-30 to 50 Years
-Above 50 Years
- With potential share Apparels Category witnessed considerable growth in the India Apparel & Footwear Market during the historical years.
By Distribution Channel
-Store-Based Retailing
–Grocery Retailers
–Non-Grocery Specialists
–Mixed Retailers
-Non-Store Retailing
–Direct Selling
–Homeshopping
–E-Commerce
–Vending
- Of them all, Store-based Retailing captured the substantial share of the India Apparel & Footwear Market during the historical years & is expected to experience significant growth in the forecast years as well.
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Regional Landscape
On the geographical front, the India Apparel and Footwear Market expands across the following:
By Region
-East
-West
-North
-South
- On the geographical front, North America is expected to acquire the leading position with the largest revenue share during 2023-28.
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