Global Ethnic Clothing Market By End Users, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021
The global ethnic clothing market size is expected to reach $164. 67 billion by 2027, growing the market at 10.82% CAGR during the forecast period. Ethnic wear is a term used to define a type of clothing that belongs to a specific nation or group of people.
New York, Jan. 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Global Ethnic Wear Market By End Users, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06222244/?utm_source=GNW
This type of clothing highlights the tradition of a nation as well as the rich diverse sense of dressing of the people. One of the most popular ethnic clothing across the world is the Indian ethnic clothing, which is accompanied by Singapore, Malaysia, Cambodia, Indonesia, Thailand, Japan, and the Philippines.
Globalization has played a vital role in spreading a country’s culture and clothing to the world. It has created a huge demand for ethnic clothing from many countries around the world. Moreover, the movement of culture and tradition along with people visiting and staying in different countries would increase the demand for ethnic clothing globally.
Impact of COVID-19
The outbreak of the COVID-19 pandemic has affected various vertical sectors of the business world. This is due to the imposition of various regulatory norms such as lockdowns, social distancing and bans on travel across borders. The disruptions caused on the various sales channels as well as the significant changes in customer preferences and habits have also affected the overall ethnic clothing market.
Due to the unavailability of raw materials and the shutdown of manufacturing units to curb the spread of the virus, the demand for ethnic clothing has drastically decreased. The shift in customer preference towards online shopping platforms due to the pandemic would support the demand and growth of the ethnic clothing market in the coming years.
Market Growth Factors:
The growing popularity of Indian ethnic clothing across the world
Indian ethnic clothing is seeing huge demand from various parts of the world due to the wide range of options available in Indian ethnic clothing. There are several fashion enthusiasts from various countries who have started wearing Indian ethnic wear, which contributes to the growing craze for wearing sarees in parties and festivals across the world and hence the demand and the growth of the ethnic clothing market would witness an increase. In the years to come.
The rapid pace of globalization
With the rapid pace of globalization, the penetration of different cultures and garments has increased in various parts of the world, which would create lucrative opportunities for many garment companies to expand their businesses. The global fashion industry has contributed to the ever-changing fashion trends across the world, which are followed by many people in order to try new fashion clothes. Government policies supporting emerging countries to attract global companies to their regional market would create more opportunities for regional ethnic clothing companies.
Market Restraint Factor:
Less acceptance of ethnic clothing in the corporate world
Ethnic clothing is less accepted in the business sector, which would limit the demand for ethnic clothing globally. Bright colors, heavy designs and patterns are not allowed in the corporate sector as they are considered informal which would prevent people from adopting ethnic attire for their offices. Additionally, the growing population of working women across the globe would further hamper the demand for ethnic clothing among working women, which is expected to hamper the growth of the ethnic clothing market over the forecast period.
End User Perspectives
Based on end users, the ethnic clothing market is categorized into men, women, and children. The male end-user segment provided a substantial share of revenue in 2020 and is expected to witness a considerable growth rate over the forecast period. The increase in the number of aspiring fashion designers, the growing popularity of fashion wear among millennials, and the advent of mass and digital marketing strategies by many fashion brands have dramatically transformed the dynamics of the apparel market. men’s ethnicities around the world. Ethnic clothing is one of the essential garments in anyone’s wardrobe during festivals and weddings.
Based on the distribution channel, the ethnic clothing market is divided into online and offline. The online store segment is expected to show a significant growth rate over the forecast period. The COVID-19 pandemic has prompted consumers to reconsider their life priorities, which would lead to new spending values and norms.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East & Africa. In 2020, Asia-Pacific emerged as the top ethnic clothing market region with the highest revenue share and is expected to witness a notable growth rate over the forecast period.
Strategies deployed in the ethnic clothing market
Nov-2021: Biba has expanded its geographical footprint by opening new stores in Gurgaon and Bengaluru. These stores would support the company’s expansion plan in India.
August 2021: Fabindia introduced FabNu, a new women’s clothing line. Through this launch, the company aimed to serve young customers with a global perspective. This line includes four collections: Indie Dreams, Flashback, Conversation Starter, Folkadelic.
July 2021: Biba has entered into a partnership with Liva Fluid Fashion, the sustainable textile brand of the Aditya Birla group. Under the partnership, the companies aimed to launch a range of kurtas and sets designed to be eco-friendly and simple to wear.
February 2021: Fabindia and Highdesign expanded their presence in Chennai Mall, opening the first joint store in Pondy Bazaar, T Nagar. The store is said to offer a range of sarees, duppatas and also western clothing.
Dec-2020: Elie Saab has entered into a collaboration with Amazon’s luxury stores. The collaboration aimed to strengthen Elie Saab’s presence in the US market via a new widespread e-commerce presence and also reach the new generation of luxury shoppers.
September 2020: Elie Saab released an exclusive haute couture collection. The collection is dedicated to the birthplace of Elie Saab and entitled Beirut, the sacred source, because the couturier responds aesthetically to the new crisis in Lebanon.
Oct-2019: Biba has partnered with Anju Modi, a fashion brand. As part of this collaboration, Biba has launched an exquisite festive collection, which is a perfect combination of Anju Modi’s signature design sensibility and Biba brand’s ethnic lineage, ideal for the festive season.
Oct-2018: Global Desi launched a line of party wear. This line has been developed to recall a classic image of the end of the year celebrations with a bohemian touch, the brand’s signature.
August 2017: Vedant Fashions took over Hyderabad-based rival Mebaz, an ethnic fashion brand house. Through this acquisition, the company aimed to expand the Indian bridal and party wear section and provide products for men, women and children.
June 2017: Global Desi collaborated with AND, a clothing brand. As part of this collaboration, the companies aimed to expand their geographic footprint by establishing a new store in Allahabad.
The market research report covers the analysis of major market players. Key companies profiled in the report are Vedant Fashions Limited (Manyawar), Ocher and Black Private Limited (Global Desi), BIBA Apparels Private Limited, Elie Saab, Modanisa, Fabindia and Shanghai Tang.
Scope of the study
Market Segments Covered in the Report:
By end users
By distribution channel
• In line
• North America
o United States
o Rest of North America
o United Kingdom
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia-Pacific
o Saudi Arabia
o South Africa
o Rest of the LAMEA
• Vedant Fashions Limited (Manyawar)
• Ocher and Black Private Limited (Global Desi)
• BIBA Clothing Private Limited
• Elie Saab
• Shanghai Tang
• Comprehensive coverage
• The largest number of tables and figures on the market
• Subscription-based model available
• Best price guaranteed
• Provided after-sales research support with 10% free customization
Read the full report: https://www.reportlinker.com/p06222244/?utm_source=GNW
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