Published On : September,2016
Consumption of fabrics for the Indian apparel & clothing market currently stands as 30,414.4 million meters in 2015 which is expected to reach 46,871.0 million by 2021 growing at a CAGR of 7.5% between 2016 and 2021. Growth in Indian apparel & clothing market is driven by several factors such as rising income level in most parts of the country, changing life style, rapid urbanization and growing female participation in the work force along with several government initiatives such as direct fund transfers to the beneficiary, employment schemes and skill development. All these factors are helping in increasing lifestyle level of the Indian population resulting into growing demand for apparel & clothing products. Indian apparel & clothing market has witnessed significant growth in the recent past due to strong macro-economic factors together with favorable demographics. Indian apparel & clothing market has consistently grew more than 5.5% year on year basis and is expected to grow at a much higher rate in the near future due to various economic and demographic changes in the nation. Indian apparel & clothing market is dominated by saree segment, which is most common apparel for the women across the nation. This clothing segment accounted for 43.5% of the overall Indian fabric consumption for the domestic apparel & clothing market. Shirting material represented highest market share in men’s segment, this segment accounted for 9.0% of the overall Indian apparel & clothing market. However Jeans and T-Shirt segments are expected to witness highest growth.