Indian apparel and fashion market
The Indian apparel and fashion market is currently one of the most promising in the world. This is thanks to a growing middle class, increased spending on luxury items, and a burgeoning creative industry. In this blog post, we will explore the Indian apparel and fashion market in detail. We will discuss the demographics of the market, the growth drivers, and the key players. Finally, we will provide you with tips on how to enter this lucrative market.
Indian apparel and fashion market overview
The Indian apparel and fashion market is expected to grow at a CAGR of 7.5% over the forecast period 2016-2021. The increasing demand for fashion products across various geographies, along with the growing middle class population in India, is major driver of the market growth.
The leading players in the Indian apparel and fashion market are Lifestyle International Limited (LIL), Benetton India Private Limited (BPL), GAP, Puma AG, Nike Inc., Adidas AG, and Uniqlo Co., Ltd. Major distributors include Future Retail Limited (FRL) and Godrej Consumer Products Ltd.
Types of Indian Clothing
There are many types of Indian clothing that you can find in stores. Some popular types of Indian clothing include the salwar kameez, tunic, and sari.
The salwar kameez is a traditional outfit worn by women in India. It is a loose-fitting dress made out of cotton fabric that falls to mid-thigh on the legs and is fitted at the waist. The tunic is similar to the salwar kameez, but it is made out of thicker fabric and has a more tailored fit. The sari is a long, flowing dress that women wear traditionally in India. It is typically made out of muslin or silk fabric and often has colorful patterns on it.
The Indian Clothing Market
The Indian apparel and fashion market is expected to grow at a rate of 7.7% during the forecast period, 2016-2021. This growth is attributable to increasing demand for fashion apparel from urban consumers as well as the growing middle class in rural areas.
In terms of types of apparel, the segment that is likely to see the highest growth during this period is women’s clothing. This is because there has been a shift in consumer preference towards more sophisticated and stylish clothing items for women. Men’s wear however, is expected to witness moderate growth due to increasing demand from traditional retailers who cater to the male target audience.
A key factor contributing towards increased demand for Indian attire among consumers globally is increasing awareness about global trends and fashion trends in India. This has led to an increase in imported products as well as an increased preference for Indian brands among domestic luxury retailers. Quality standards are also gaining importance amongst customers, which is evident from the rising popularity of premium brand labels like Lululemon and Nike, which primarily sell sportswear products.
Export and Import of Indian Clothing
The Indian apparel and fashion market is estimated to be worth Rs. 1,000 crore by 2020. The export of Indian clothing has been on the rise over the past few years owing to increasing demand from other countries in Asia. The import of Indian clothing has also seen a significant increase in recent years as the country continues to grow economically. There are several factors that are contributing to this trend, including increasing consumer awareness about Indian brands and products, an increase in luxury spending, and the growth of e-commerce platforms.
The export market for Indian clothing is dominated by textiles and garments, while the import market is primarily made up of footwear and accessories. The majority of exports go to Southeast Asia and South Asia, while imports are primarily focused on China and neighboring countries. India is also one of the top exporters of readymade garments, accounting for around 50% of global exports.
One major factor driving demand for Indian apparel abroad is growing consumer awareness about Indian brands and products. This has been aided by increasing media coverage about India’s growing economy and retail sector, as well as increased online sales activity. Additionally, many luxury brands have begun sourcing their clothes from India due to its lower costs compared to other regions. In 2015, luxury goods company LVMH invested $200 million in two Indian e-commerce companies— Snapdeal’s Fashion Group and Myntra’s rival Jabong—in an attempt to take advantage of India’s growth in the fashion sector.
Indian apparel market overview
The Indian apparel and fashion market is expected to grow at a compounded annual growth rate (CAGR) of 7.5% during the period 2016-2021, according to a report by Grand View Research, Inc. The market is driven by increasing demand for formalwear and smart clothing among women in India.
The formalwear segment is expected to account for the largest share of the Indian apparel and fashion market in 2016, followed by the smart clothing segment. The formalwear segment is projected to grow at a CAGR of 9.4% during 2016-2021, while the smart clothing segment is projected to grow at a CAGR of 7.8%.
The major players in the Indian apparel and fashion market include Vivienne Westwood plc (U.K.), Jack Wills Co., Ltd. (Japan), Zara AB (Spain), H&M Group AB (Sweden), Uniqlo Corporation (Japan), and Primark Group PLC (Ireland).
Indian fashion industry
Indian apparel and fashion market is a highly promising industry with large potential. The country has a large population and a variety of cultural heritage that can be tapped for designing stylish clothing. There are many fashion designers in the country who are adept at creating unique and stylish outfits. Indian apparel and fashion market is also growing rapidly due to increasing demand from international buyers. Moreover, the country offers favorable tax benefits to garment manufacturers and retailers, which makes it an attractive destination for investment.
The Indian apparel and fashion market is worth USD 24 billion per year and is projected to grow at a CAGR of 7.5% over the next five years. Major players in the Indian apparel and fashion market include Nike Inc., Adidas AG, H&M AB, Uniqlo Limited, Zara Larsson AB, Puma SE, Lululemon Athletica Inc., American Apparel Inc., BRF SA, Sanwar Garima Saree Mills Pvt Ltd., etc.
Trends in Indian apparel and fashion
The Indian apparel and fashion market is growing at a fast pace. There are several reasons for this. The first reason is that the Indian population is growing rapidly. The second reason is that there is a lot of money to be made in the apparel and fashion industry. Third, India has a large population of young people who are interested in wearing fashionable clothes. Lastly, the Indian government has been promoting clothing exports, which has led to an increase in the number of companies producing clothing in India.
One of the big trends in Indian fashion right now is traditional clothing being replaced by modern styles. This change was seen most notably during Holi, the Hindu festival of color. During Holi, people traditionally wear bright colors and decorations on their bodies to show their happiness. However, over time more and more people have started wearing modern styles instead. This change reflects how Indians are becoming more secular and less religious overall.
Another trend that’s gaining popularity in Indian fashion is bollywood style dressing. Bollywood style dressing refers to the way people dress when they watch movies or television shows about life in Mumbai (the main city in Maharashtra state). This type of dressing is popular because it’s stylish and contemporary but still comfortable enough to wear everyday.
There are also a lot of fashionable new items being released into the market every year. For example, there are now a lot of trendy jeans available from brands like Wrangler and Lee . These jeans are made from different types of materials such as
Outlook for the Indian apparel and fashion market
The Indian apparel and fashion market is anticipated to grow at a CAGR of 7.5% during the forecast period 2016-2021, owing to increasing consumer spending on apparel and accessories. The growth in the domestic sector is attributed to increasing incomes and urbanization, while the growth in the foreign market is attributed to increasing demand from developing countries.
The growing middle class population and rising disposable income is fuelling the growth of the Indian apparel and fashion market. The increased spending on apparel and accessories has been aided by favorable economic conditions such as low inflation, stable currency, increase in trade turnover, and rise in export revenues. Furthermore, there are also various government initiatives such as Make In India that are contributing to the growth of the Indian apparel and fashion market.
However, challenges faced by the industry include inadequate infrastructure, lack of focus on quality products, high production cost, stringent regulations pertaining to exports & imports, higher prices of raw materials due to exchange rate fluctuations etc., which may restrain the growth of this market.
The Indian apparel and fashion market is expected to grow at a CAGR of 10.5% during the period 2016–2021. Factors driving this growth include increasing spending on luxury items, growing middle class, and increase in disposable incomes. The country’s fashion industry is anticipated to reach Rs. 2,500 crore by 2021 from Rs. 1,000 crore in 2016. There are various factors contributing to the growth of the Indian apparel and fashion market such as increasing preference for quality over quantity; rapidly evolving lifestyle trends; increased inclination towards westernized styles; emergence of regional brands; and increasing trendiness of ethnic wear amongst others