What are some statistics related to the garment industry?

What are some statistics related to the garment industry?

Sales from the men’s clothing stores dropped to 9.1 billion U.S. dollars that year, with a revenue of 85.9 billion U.S. dollars. In April 2020, U.S. monthly clothing store sales fell to 2.9 billion U.S. dollars due to the impact of the coronavirus (COVID-19) pandemic.

How much is the clothing industry worth 2020?

The global apparel market was worth $1.46 trillion in 2020, and it’s anticipated to increase to roughly $2.25 trillion by 2025. Meanwhile, the global fashion retail market industry hit $300 billion in 2020 and is projected to reach $360 billion after five years.

How much is the clothing industry worth 2022?

As one of the top online shopping categories among consumers, it should come as no surprise that the US fashion industry size is huge. In fact, it’s currently valued at hundreds of billions of dollars. The sales figures for 2022 are forecast at $473.42 billion.

How big is the garment industry?

In the US$2.4 trillion garment industry, which employs millions of workers worldwide, labor rights abuses are rife.

What are the four sectors of the fashion industry?

There are four operation processes of the fashion industry: fashion design, manufacturing, retailing, and supply chain management. The fashion industry, or called apparel industry, is the industry engaged in manufacturing garments and accessories and it is one of the most significant economic sectors in the world.

What is the size of the fashion industry 2021?

$759.5 billion
The business of fashion is more than big; it’s the biggest of the big. With a global market value of $759.5 billion in 2021, apparel, accessories, and footwear are the number one ecommerce sector in the world.

Is the textile industry big?

Overview. The U.S. textile and apparel industry is a nearly $70 billion sector when measured by value of industry shipments. It remains one of the most significant sectors of the manufacturing industry and ranks among the top markets in the world by export value: $23 billion in 2018.

What is the highest level of fashion?

haute couture
The highest level of fashion is haute couture.

How many people work in the global garment industry?

Facts on The Global Garment Industry 1. Key Statistics Employment in Garment Industry: ● About 60 million1 to 75 million2 people are employed in the textile, clothing and footwear sector worldwide (2014).

How big is the apparel industry in the United States?

In December 2017, U.S. apparel retail store sales amount to 23.3 billion U.S. dollars. The revenue of the women’s and girls’ apparel market was approximately 117 billion U.S. dollars in 2017, whereas the revenue of the men’s and boys’ apparel market was around 87 billion U.S. dollars in the same period.

How big is the global fashion industry?

In 2020, the global fashion industry was worth $1.5 trillion. As shown above, it’s estimated that the global apparel market will be worth $2.25 trillion by 2025 due to the high demand for clothing and shoes. The largest apparel markets in 2020 were the US, China, and Japan, while the best-selling retailers were TJX Companies, Inditex, and H&M.

What is the forecast period of the global apparel industry?

Furthermore, the global apparel industry statistics predict that by 2025, there will be a CAGR growth of 7%, amounting to a whopping $842.73 billion. The Asia Pacific is the region that accounted for the highest percentage of the market—33%, followed by Western Europe that made 28% of the global apparel market.