The female clothing market has been forecast to reach a value of $1.2 trillion by 2018, driven by the rise in disposable incomes and the growth in fashion awareness among masses.
The global market for female clothing is characterised by varied consumer tastes and ever changing fashion trends.
Besides individual preferences, the desire to keep pace with fashion trends plays a vital role in shaping trends in the market. Compared to the men's apparel segment, the market for women's wear is characterised by a greater degree of complexity and diversity owing to the availability of wide range of clothing products and accessories.
Women are now willing to shell out a larger share of their disposable incomes and take extra effort in keeping pace with evolving fashion trends compared to their male counterparts.
The female clothing market is also expected to benefit from the pent up demand for clothing due to lower spending on apparel in the past few years, and the growing desire of women to update their wardrobes.
In pursuit of looking good and stylish, modern women increasingly desire trendy clothing, and demand distinctiveness in styles, patterns and fabrics.
According to a recent market report, 'Women's and Girls' Clothing: A Global Strategic Business Report,' female blouses & shirts represent the largest as well as fastest growing product segment. Western attire is increasingly gaining popularity in conventional markets such India and the Middle East.
The retail landscape is also witnessing changes, with consumers increasingly opting to shop at specialty outlets as against department stores.
Also, online stores and e-commerce is gaining prominence with growing number of women using the Internet to browse retail websites and purchase clothing.
Europe represents the largest market worldwide, while, with a rapidly burgeoning fashion conscious population, Asia-Pacific is forecast to emerge as the fastest growing market with a compound annual growth rate of 9.6% over the next five years.
Apparel retailers from the West are increasingly looking towards developing markets, where apparel spending remains strong.
Key players currently dominating the female clothing market include Amer Sports Corporation, Berkshire Hathaway, Calvin Klein, Guess, Inc., Joe Boxer Corp., Nike Inc., Tommy Hilfiger Corporation, Chico's FAS Inc., Gymboree Corp., and Wal-Mart Stores Inc.
For more information on the female clothing market, see the latest research: Female Clothing Market
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