Global jersey market to grow 6.78% by '25; highest in apparel products

In 2017, the global jersey market was valued at $226.16 billion and grew to $243.83 billion in 2018 and $264.30 billion in 2019, but the pandemic caused the market to shrink to $224.60 billion in 2020. However, the market bounced back to $243.47 billion in 2021 and is expected to grow at a rate of 6.78 per cent over the next five years, according to Fibre2Fashion’s market insights tool TexPro. 

The trousers and shorts market was valued at $354.38 billion in 2017, which increased to $372.97 billion in 2018, $390.72 billion in 2019, and $355.18 billion in 2021. However, the market saw a decline to $332.77 billion in 2020. 

Between 2020 and 2025, the global market for T-shirts will grow annually at a rate of 6.55 per cent and reach $220.75 billion. The market for shirts is expected to grow by 3.07 per cent and reach $173.14 billion, while the market for coats, jackets, and blazers may grow by 3.09 per cent to reach $159.38 billion. The market for suits, dresses, and ensembles is predicted to grow by 3.33 per cent to reach $116.17 billion by 2025. Similarly, the market for innerwear is expected to grow at a rate of 3.01 per cent and reach $79.32 billion, while the baby wear market is expected to grow at a rate of 2.49 per cent and reach $58.09 billion. Additionally, the market for skirts is projected to grow at a rate of 4.97 per cent and reach $29.01 billion, and the nightwear market is expected to grow at a rate of 4.75 per cent and reach $23.55 billion by 2025. 

TexPro predicts that the overall global apparel retail market will grow annually at a rate of 4.50 per cent to reach $1,574 billion by 2025. The market was valued at $1,387.74 billion in 2017, $1,450.92 billion in 2018, $1,518.81 billion in 2019, $1,263.70 billion in 2020, and $1,352.42 billion in 2021. The data shows that COVID-19 heavily impacted the global apparel retail market, causing it to shrink to $1,263.70 billion in 2020 from $1,518.81 billion in 2019. However, it is expected to fully recover by 2025 and reach $1,574.87 billion. 

ALCHEMPro News Desk (KUL)