Apparel - Southeast Asia
- Southeast Asia
- The Southeast Asian Apparel market is projected to generate a revenue of US$51.37bn in 2024.
- This market is expected to experience an annual growth rate of 3.70% (CAGR 2024-2029).
- Among the various segments within the Apparel market, Women's Apparel holds the largest market volume, reaching US$24.65bn in 2024.
- In a global context, in the United States generates the highest revenue in the Apparel market, reaching US$359bn in 2024.
- When considering the population, the per person revenue in Southeast Asia is estimated to be US$74.17 in 2024.
- Looking ahead, the volume of the Apparel market is predicted to reach 8.0bn pieces by 2029.
- There is also an expected volume growth of 0.4% in 2025.
- On average, each person is anticipated to contribute 11.4pieces to the Apparel market in 2024.
- Furthermore, it is projected that 93% of sales in the Apparel market in Southeast Asia will be derived from Non-Luxury by 2024.
- In the bustling fashion market of Southeast Asia, Indonesia stands out as a trendsetter with its vibrant and eclectic mix of traditional and modern apparel styles.
Key regions: United States, Philippines, India, Europe, Germany
Analyst Opinion
While Greater China almost overtakes the U.S. as largest fashion market in the world, key economic indicators create a more cautious mood for the global fashion industry potentially slowing down by 2020. For companies it is crucial to prepare plans to address a possible transformation of global value chains emerging by new opportunities from global consumer spending shifting towards emerging economies as well as trade tensions and uncertainties. A leverage point could be to take a strong position on social and environmental issues, as this is very much demanded by the younger generation.
Methodology
Data coverage:
Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional Notes :
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.Overview
- Revenue
- Volume
- Price
- Key Players
- Sales Channels
- Global Comparison
- Analyst Opinion
- Methodology
- Key Market Indicators