Report Overview
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The global shirt market size was valued at USD 60330 million in 2022. As per our research, the market is expected to reach USD 78110 million by 2028, exhibiting a CAGR expansion of 4.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the shirt market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A shirt is a garment that is typically worn on the upper body, covering the torso and usually extending to the waist or hips. It is one of the most common and basic items of clothing worn by people of all genders and ages. Shirts can be made from various materials, including cotton, polyester, silk, linen, or a blend of fabrics. They come in a wide range of styles, designs, and colors, offering versatility in terms of fashion and functionality.
The shirt market is a vibrant and diverse industry that caters to a wide range of consumer preferences and demands. It encompasses various types of shirts, including formal dress shirts, casual T-shirts, polo shirts, button-down shirts, and more. The market includes both designer and non-designer brands, offering a range of options in terms of style, quality, and price points.
COVID-19 Impact: Market Faced a Fall in Demand Due to Disruption in Supply Chain during the Pandemic
There was no single sector unaffected by COVID-19. The Shirt Markets were affected as well. The COVID-19 pandemic did affect the Shirt Market. The global shirt market heavily relies on global supply chains, including sourcing raw materials, manufacturing, and shipping. The pandemic caused disruptions in these supply chains due to factory closures, restrictions on movement, and transportation challenges. This led to delays in production, shortage of materials, and logistical issues, affecting the availability of shirts and causing supply chain bottlenecks.
Latest Trends
"Integration with Security Systems to Enhance Security Level "
The Shirt market is as dynamic as any other market. In the market, there is everyday development to add more benefits to it. Recently, there is a growing demand for sustainable and ethical shirts. With growing awareness of environmental and social issues, there is an increasing demand for sustainable and ethically produced shirts. Brands are adopting eco-friendly materials, organic cotton, and recycled fibers, and implementing fair trade practices to meet this demand.
Segmentation
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- By Type Analysis
According to type, the market can be segmented into T-Shirt, polo shirts, dress shirt, and others.
In terms of services, Polo Shirt is the largest segment, as it holds the maximum share of the market.
- By Application Analysis
Based on application, the market can be divided into Direct-Sale Stores, Franchisee Stores, and Distributors.
Driving Factors
"The Rising Fashion Trend and Consumer Preference Has Increased the Demand in the Market"
Fashion trends and consumer preferences play a vital role in shaping the shirt market. Consumer tastes, style preferences, and cultural influences drive the demand for different types of shirts, such as formal dress shirts, casual T-shirts, or trendy styles. Designers and brands keep a close eye on evolving fashion trends to create designs that appeal to consumers. This has led to a positive impact on the Shirt Market growth.
"Rapid Innovation and Focus on Advertising Influence the Demand in the Market"
Innovation in shirt design and technology is a driving force in the market. Brands that introduce innovative features, fabrics, prints, or construction techniques can differentiate themselves from competitors and capture consumer interest. Technological advancements, such as smart fabrics, moisture-wicking materials, or wrinkle-resistant finishes, also contribute to the market's growth. Effective marketing and advertising strategies greatly impact the shirt market. Brands that invest in targeted advertising campaigns, influencer collaborations, social media engagement, and engaging content can generate buzz and increase brand visibility, thereby attracting more customers.
Restraining Factors
"High Competition Can Lead to a Declining Trend in the Market "
The shirt market is highly competitive, with numerous brands and retailers vying for consumer attention. This level of competition can pose challenges for new entrants or smaller players in terms of gaining market share, brand recognition, and securing distribution channels. Established brands with strong market presence and customer loyalty may have an advantage over new or lesser-known brands. As a consequence, there will be a declining trend in the Shirt market.
Regional Insights
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"North-America Region Dominates the Market Due to a Large Number of Textile Industries "
These countries are major manufacturing hubs for apparel and textiles due to factors such as lower production costs, skilled labor, and established manufacturing infrastructure. They supply shirts to both domestic and international markets. This region is a major consumer and producer of shirts, with numerous domestic brands catering to diverse consumer preferences. The region also houses headquarters and flagship stores of well-known international brands, making it an important market for the industry. The countries in this region have a strong textile and garment manufacturing industry, producing shirts for both domestic and export markets. Brands of this region are known for their unique designs, use of high-quality materials, and incorporation of cultural influences.
Key Industry Players
"Key Players Focus On Marketing Channels and Research and Development "
Market players invest in design and product development to create a wide range of shirt styles, patterns, colors, and fabrics. They employ fashion designers and teams to stay updated with the latest trends, conduct market research, and develop new collections that appeal to target consumers. Design decisions include factors such as fit, silhouette, detailing, and overall aesthetic. Market players oversee the manufacturing and production of shirts, either in-house or through partnerships with manufacturers. This involves sourcing raw materials, fabric cutting, sewing, quality control, and ensuring compliance with industry standards. Large-scale manufacturers often have factories in different regions to optimize production and costs.
List of Market Players Profile
- Hansoll(South Korea)
- Esquel(HongKong)
- Shenzhou(China)
- SAE-E(Saudi Arabia)
- American Apparel (United States)
- Li-Ning
- Hanes
- HLA
- Gildan
- TAL apparel
- The Shirt Factory
- Luen Thai
- ECLAT
- Jinadasa Garments
- New Wide
- Metersbonwe
- Makalot Ind.
- Chenfeng Group
- Semir
- Seidensticker
- Inditex
- Alok
- Tainan Enterprises
- GK
- Bridge Group
Report Coverage
The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc.
Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 60330 Million in 2022 |
Market Size Value By |
US$ 78110 Million by 2028 |
Growth Rate |
CAGR of 4.4% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value are Shirt industries expected to touch by 2028?
The global Shirt industry is expected to touch USD 78110 million by 2028.
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What CAGR is the Shirt industry expected to exhibit during 2022-2028?
The global Shirt industry is expected to exhibit a CAGR of 4.4% over 2022-2028.
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What are the factors which help in pushing the Shirt market?
The rising trend for shirt, and the focus on advertising are the driving factors of the Shirt market.
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Which are the key players or most dominating companies functioning in the Shirt market?
Hansoll, Esquel, Shenzhou, SAE-E, American Apparel, Li-Ning, Hanes, HLA, Gildan, TAL apparel, The Shirt Factory, Luen Thai, ECLAT, Jinadasa Garments, New Wide, Metersbonwe, Makalot Ind., Chenfeng Group, Semir, Seidensticker, Inditex, Alok, Tainan Enterprises, GK, and Bridge Group are the top companies operating in the Shirt market.