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Ethnic Wear Industry Overview
The global ethnic wear market size is anticipated to reach USD 126.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.3% from 2021 to 2028. Due to globalization, the transfer of culture and tradition, as well as individuals traveling and residing in different countries, there has been a strong demand for ethnic clothing from many nations across the world. Furthermore, the worldwide desire for ethnic dresses at theme-based functions, rent-based models for renting ethnic garments, and the expansion of distribution channels through e-commerce are driving the ethnic wear market.
Ethnic Wear Market Segmentation
Grand View Research has segmented the global ethnic wear market on the basis of end user, distribution channel, and region:
Based on the End-user Insights, the market is segmented into Men, Women, Children.
- In terms of value, the women end-user segment dominated the market for ethnic wear and accounted for the largest revenue share of around 73.0% in 2020. The women’s segment is projected to witness a CAGR of 6.6% over the forecast period. The rising female population and increase in the female workforce are the factors contributing to the demand for ethnic wear worldwide.
- The men’s ethnic wear segment accounted for a revenue share of 16.4% in 2020 and is projected to witness a CAGR of 6.2% over the forecast period. The growing craze for fashion among millennials, the growing number of aspiring fashion designers, and the emergence of mass and digital marketing strategies by fashion brands have fundamentally changed the market for ethnic wear for men globally.
Based on the Distribution Channel Insights, the market is segmented into Online, Offline.
- In terms of value, the offline distribution channel segment dominated the market for ethnic wear and accounted for the largest revenue share of over 63.0% in 2020. This segment is projected to progress with notable CAGR over the forecast period.
- A prime factor driving the segment is increasing consumer preference for purchasing high-end ethnic wear from brick-and-mortar stores. Moreover, this purchasing model offers a rich experience of shopping and makes it easier for the consumers to understand the exact size and quality of the product.
- The online store segment is projected to witness a CAGR of 6.7% over the forecast period. The pandemic caused consumers to reassess their life priorities, which resulted in new values and spending criteria.
Ethnic Wear Regional Outlook
- North America
- Europe
- Asia Pacific
- Central and South America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
There are numerous small- and medium-scale retailers, which make the market for ethnic wear highly fragmented. Many players in the market are opening their retail stores to resume their offline expansion and continue their growth momentum during the global health crisis and economic slowdown.
Some 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
Order a free sample PDF of the Ethnic Wear Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
