Apparel and Footwear Market Size, Share, Growth, Industry Analysis, By Type (Casual Wear, Sportswear, Formal Wear, Footwear and Accessories), By Application (Retail, E-commerce, Department Stores and Fashion Outlets) and Regional Insights and Forecast to 2033

•   
•   
  

  Request a Free sample to learn more about this report

    

APPAREL AND FOOTWEAR MARKET OVERVIEW

The global Apparel and Footwear Market size was valued at 522.37 billion USD in 2025 and is expected to reach 840.78 billion USD in 2033, reflecting CAGR of 6.13% during the forecast period.

One of the thriving industry in the world is the apparel and footwear industry. This ever-changing industry is now increasing influenced by not only the social media influencers but also the growth of the online platforms. Although out of the two, the apparel segment dominates the market with its casual wear, the footwear in recent years is also gaining significant growth. Fast fashion, technology integration and sustainability are the key market trends in the apparel and footwear market.

LATEST TRENDS

Sustainable Products is the Latest Trend in the Market

Due to various global issues such as global warming and pollutions, customers are now demanding for eco-friendly and sustainable products from the apparel and footwear industry. This demand is making the brands and companies to shift towards the manufacturing of biodegradable and recyclable products. Some brands have even started selling their products with the vegan tag on them. Form this it can be inferred the growth of sustainable products is the latest trend in the global apparel and footwear market.

US TARIFF IMPACT

Negative Impact of U.S. Tariffs Market Rising Costs, Supply Chain disruption and Competitive Challenges

Recent tariffs hike by the US government has resulted in significant disruption and price hike. First and foremost, impact is the increase in the price of the imports which some companies might absorb to stay ahead of the competition while other small companies might shift it to the customers, leading to increase in the price of the product. Secondly it causes supply chain disruption, leading to a delay or shortage. Retailers are also gravely affected as they are experiencing margin pressure. Hence it can be noted that tariff on the apparel and footwear industry leads to a significant market decline.

•   
•   
  

  Request a Free sample to learn more about this report

    

APPAREL AND FOOTWEAR MARKET SEGMENTATION

By Type

Based on Type, the global apparel and footwear market is categorized into Casual Wear, Sportswear, Formal Wear, Footwear and Accessories.

• Casual Wear - The dominant player of the apparel and footwear industry is the casual wear. More spending power of the customers due to increase in disposable income, influence of social media and constantly changing customer's preferences are the key driving factors of the casual wear market. It was noted that in 2024, the casual wear market was valued at 624.29 billion USD within the apparel and footwear market and as the demand increases the market is estimated to reach 839 billion USD with the Asia-Pacific region immerging as the largest shareholder in the year 2024 in the same casual wear segment.

• Sportswear - This is a booming industry which is constantly driven by rising health awareness among the younger population, increasing participation in sports related activities and rapidly rising fitness trends are the key driving factors fueling the sportswear market. In 2024 the sportswear market was valued at 335.92 billion USD and by 2032 it is expected to reach 794.91 billion USD. Currently North America region is considered as the dominant player when it comes to the sportswear market.

• Formalwear - A significant part of the broader apparel and footwear market is the formal wear. This industry is seeing a surge in growth in recent years due to rise in corporate jobs and more women entering the job market. Plus, customers demand for high quality and stylish clothes. In 2023, the formal wear market was valued at 3.85 billion USD and by 2032 it was valued at 6.79 billion USD. Among the formal wear, the women's wear segment dominates the market.

• Footwear - The footwear is a large and growing market in the apparel and footwear market. Ever changing fashion trends, consumers demand for comfortable and sustainable footwear and emerging vegan trends are the main driving factors of the footwear market. In 2023, the footwear market was valued at 365.72 billion USD and by 2030 it is projected to reach 530.30 billion USD and among the countries China dominates the footwear market in terms of production.

• Accessories - This segment includes a wide range of products such as handbags, jewelry, watches and other such items. This market has seen significant growth in recent years. The growth of the e-commerce platforms, changing customer’s preferences and personalization of the products are the key driving factors of the accessories market. In 2024, this market was valued at 2098.55 billion USD and it is projected to reach 3793.79 billion USD by 2034.

By Application

Based on Application, the global apparel and footwear market is categorized into Retail, E-commerce, Department Stores and Fashion Outlets.

• Retail - In the retail sector, the apparel and footwear industry is considered as a dynamic and evolving industry. Prioritization of eco-friendly materials, digital influence from both social media and e-commerce platforms and customization of the products are the key market trends fueling the growth of the apparel and footwear market in the retail industry.

• E-commerce - The apparel and footwear industry is thriving in e-commerce. The online platforms are driving the sales by making the products easily accessible and customers are able to purchase anywhere and anytime using these platforms. The apparel and footwear market in the e-commerce industry is currently valued at 704.2 billion USD and by 2032 it is projected to reach 1504.37 billion USD.

• Department Stores - The apparel and footwear sector holds a significant position in the department stores. Increasing focus on sustainability and the ever changing consumer preferences are the key factors fueling the growth of the sector in the department stores. As a result, in 2024, its market in department stores was valued at 2098.55 billion USD.

• Fashion Outlets - The apparel and footwear industry in the fashion outlets are an ever changing and evolving market. The market is driven by changing customer preferences, increasing disposable income and technological advancement. Although apparel dominates the fashion outlets industry, the footwear and accessories are also now growing due to the customers purchasing preferences.

MARKET DYNAMICS

Market dynamics includes driving and restraining factor, opportunities and challenges stating the market conditions.

Driving Factors

Changing Fashion Trends is Fueling the Market Growth

Growing social media and the influencer industry is heavily influencing the customers fashion styles. Influencers are playing a significant role in shaping the overall apparel and footwear industry. Niche fashion trends such as street wear and personalization of the products are not only influencing the fashion trends but also playing a crucial role of boosting the apparel and footwear market across the globe.

Increase in the Disposable Income is Boosting the Market Growth

In the developing countries there has been a rise in the disposable income especially among the younger generation. This is fueling the purchasing power of the customers. With the increase in the purchase, the demand for various products within the apparel and footwear industry is also growing steadily in recent years. Disposable income has also helped the customers to purchase at various price points as well.

Restraining Factors

Supply Chain Disruption is Restraining the Market Growth

Global events such as natural and political events greatly affect the smooth supply and distribution of the products not only to the retailers but also to the customers as well. Some of the known global events in recent years that affected the market are covid-19 pandemic, Russia-Ukraine war and the Israel-Hammas war. All these events resulted in the significant disturbance in the supply of apparel and footwear across the globe.

Integration of Technology is Opening New Opportunities for the Market Growth

Opportunity

One of the latest trends in the footwear industry is the integration of smart technology which offers new functions such as monitoring the performance, tracking the health and even providing personalized recommendations for the customers.

This trend will bring in tech savvy customers into the industry thereby boosting the sales and in turn leading to the apparel and footwear market growth.

Rapidly Changing Customer Preferences is Challenging the Market Growth

Challenge

Customers' preferences when it comes to apparel and footwear are constantly changing and evolving. This results in the brands and companies continuously changing their products to meet the needs and preference of the customers.

This requires a significant initial investment and this could act as a barrier for the small scale apparel companies who already work on tight margins. From this it can be inferred that changing customer’s preferences is challenging the growth of the apparel and footwear industry.

•   
•   
  Request a Free sample to learn more about this report

    

APPAREL AND FOOTWEAR MARKET REGIONAL INSIGHTS

• North America

The United States apparel and footwear market is the dominant player in the world. Changing customer’s preferences and style, easy accessibility due to the e-commerce platforms and technological advancement are the key driving factors of the market. The apparel and footwear market in the year 2023 was valued at 564 billion USD and by 2034, the market is projected to reach 447.73 billion USD, with the apparel segment dominating the market.

• Europe

The Europe apparel and footwear market is a substantial and rapidly changing market. Just like the US, the Europe market is expected to follow a similar trend of changing customer’s preferences, rising online purchasing platforms and advancement in technology for market growth. Due to these factors, the market in this region is projected to reach 119 billion USD. Among the European countries, Germany dominates the apparel and footwear market and the UK dominates the accessories sector.

• Asia

The Asia-Pacific region has a rapidly growing apparel and footwear market. Increased urbanization in the developing countries coupled with increased disposable income and the always changing customer’s lifestyle are the key factors driving the market growth. In 2023, the market in this region was valued at 764 billion USD. China holds the maximum shares in the apparel and footwear market share within the Asia-Pacific region. This region also dominated the footwear market in the world by holding 32.07% shares in the year 2024.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Innovation and Market Expansion.

The key industry players are also termed as the dominant players in the apparel and footwear market. They keep up with the latest trends in the market that resulted in the boost of sales. Key industry players invest continuously to develop new and innovative products. They are responsible for the smooth supply and distribution of the products. These dominant players also come up with new strategies to promote the market during the market decline period.

List Of Key Apparel And Footwear Companies

• H&M Hennes & Mauritz AB (Sweden)
• VF Corporation (US)
• Adidas AG (Germany)
• Nike (US)
• Puma (Germany)
• LPP SA (Poland)
• Levi Strauss & Co. (US)
• Gildan Activewear Inc. (Canada)
• Bosideng International Holdings Ltd. (China)
• PVH Corp. (US)

KEY INDUSTRY DEVELOPMENT

February 2024: Authentic Brands Group, US based company, partnered with ALDO group to design, produce and distribute Hunter bags and small leather goods mainly for the US and Canada market. This collaboration leverages ALDO's expertise to expand Hunter's offerings, with its collection launched in FW24.

REPORT COVERAGE

This report covers the basis of the apparel and footwear industry and its market on a global scale. The report briefly covers the latest trends in the market and the impact of the tariff on the market as well.

The report describes the segmentation of the market on the basis of type and application and its contribution to be market growth. The role of driving factors and opportunities in the growth of the market and the impact of restraining factors and challenges in the decline of the market.

The report also dives into the regional insight of the apparel and footwear market. The role of key industry players in the growth of the market and the key industry development that took place recently in the market.