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Domestic apparel market carries huge growth potential

10
Mar '10
The domestic apparel market in India has shown a significant growth in the past by registering a Compounded Annual Growth Rate (CAGR) of 13%.

Despite the recent demand slump, the domestic market is expected to grow at around 9-10% in the next 5 years. Market is moving away from the traditional segmentation to a much deeper and wider segmentation based on consumer needs.

Some of the segments that carry potential opportunities and to watch out for are; Daily wear, Casual wears, Kids wear, School Uniforms, Inner wear, Plus size clothing, Active wear/ Exercise wear/ Swimwear, and Youth fashion / College fashion.

The rural markets and ethnic wear are huge opportunities that are popularly overlooked in favor of urban, premium and western wear and these two carry immense potential.

Indian domestic apparel market is currently pegged at between Rs 120-150 billion, with several high potential demographics still untapped such as teens, extra large sizes and children, among others.

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Fibre2fashion News Desk - India


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