According to Allied Market Research’s new report, “Readymade Garment Market by Product Type, Application, Fabric Type, Age Group, Sales Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2027,” the global readymade garments market is expected to reach $1,268.3 billion by 2027, growing at an annual rate of 8.8% from 2021 to 2027. During the projection period, the outer garments category is expected to rise at a CAGR of 8.8%. In the readymade garments market, China is the most important country in terms of demand and production. In terms of value, e-commerce is expected to increase at the fastest rate, with a significant CAGR from 2021 to 2027. During the projection period, the formal wear category is expected to rise at a CAGR of 9.1%. The others category, on the other hand, is predicted to increase at a faster rate in the coming years.
During the projected period, the woven garments market is expected to grow at a 9.1% CAGR. During the projected period, however, the nonwoven segment is predicted to increase at a fast pace of 8.6%. The adult category is expected to expand at a CAGR of 9.1% throughout the projection period, based on the As age group. During the projected period, however, the youngsters category is predicted to increase at a fast pace of 9.4%. The supermarket/hypermarket category is expected to grow at a CAGR of 9.0 percent throughout the projected period, according to sales channel. During the projection, however, the e-commerce industry is predicted to increase at a faster rate.