Ethnic Wear Market Analysis by Application and Competitive Insights to 2028
Ethnic Wear Industry Overview
The global ethnic wear market size was valued at USD 77.6 billion in 2020 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.3% from 2021 to 2028.
There has been a high demand for ethnic wear of various countries across the world because of globalization, movement of culture & tradition in conjunction with individuals visiting and staying in numerous countries. COVID 19 crisis has taken the globe by surprise. All industries and businesses around the world are plagued by the pandemic in a way or another. The textile and apparel business was one in every of the toughest hit industries following travel, with lockdowns and changes in client habits, and the retail sales have gone down. More importantly, sales channels and buying behavior have changed. These changes not only affected product quantities, but also product types and distribution channels. With these changes, the effects on the industry are not limited to a change in capacity, but extend to the production models and will permanently disrupt value chains in the medium and long term.
Gather more insights about the market drivers, restrains and growth of the Global Ethnic Wear Market
Increasing fashion awareness, rapid urbanization, and changing lifestyles are factors driving the growth of the market among men, women, and children. Due to the religious and cultural diversity around the world, a wide variety of occasions are celebrated. During such festive occasions, consumers tend to buy ethnic clothing for both personal use and gifts as brands often find new trends and designs that coincide with festive occasions. These occasions often drive the growth of ethnic clothing.
The ethnic wears are known for elegance and charm, and represent a unique line of clothing that comes in vibrant colors, patterns, and designs. As the clothing industry continues to break its own frontiers, and extend its market reach using e-commerce to link up with the rest of the world, the market for ethnic wear has continued to grow at a tremendous rate. For instance, the traditional glamour and opulence of Indian wear combined with the formality and comfort associated with western wear produced a line of cloth that appealed to the global civilization and increased the popularity of Indian ethnic wear in the worldwide market.
Convenience, comfort, and style have been the main drivers behind the growth of the modern, organized format in the ethnic clothing segment. Organized suppliers offer ready-to-wear products that attract the attention of younger consumers. Other trends are major emerging markets that are helping this segment grow. it is the gradual increase in the number of women in the corporate workforce. For instance, according to the data released by The Global Economy in 2019, the female labor force in Nepal was valued at 55.7% in 2019 as compared to 51.2% in 2012. Similarly, according to the same source, the female labor force participation rate in India was valued at 20.3% in 2019 as compared to 20.2% in 2018.
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Market Share Insights
- August 2021: BIBA Apparel launched the 35th flagship store in Delhi which has a large-scale digital screen at the store to engage the customers visually and offer a seamless shopping experience to consumers.
- April 2020: H&M Group, a Swedish retailer announced to introduce a saree collection in collaboration with designer Sabyasachi Mukherjee.
- September 2019: Japanese brand Uniqlo launched its first retail store in India and introduced a special kurta collection.
Key Companies profiled:
Some of the prominent players in the global ethnic wear market include:
- Biba Apparel
- Manyavar
- Shanghai Tang
- Shimamura co.
- Wacoal holding Corp.
- Thebe Magugu
- Lemlem
- Afrikrea
- Global Desi
- ELIA SAAB
- Modanisa
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