Value Apparel Market Size, Trends and Analysis by Region, Category, Brands and Forecast to 2027
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Explore actionable market insights from the following data in our ‘Value Apparel Market’ report:
- A comprehensive view of the value apparel market and forecasts from 2017 to 2027.
- Analysis as well as historical figures and forecasts of revenue from the categories (clothing, footwear, and accessories).
- A thorough evaluation of top regions (the Americas, APAC, Europe, and the Middle East and Africa).
- In-depth insights on new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of recent events on the value apparel market.
- Analysis of the top market players.
- Insights, into the latest market trends and factors driving it, for you to make the right business strategies and gain a competitive edge.
How is the ‘Value Apparel Market’ report different from other reports in the market?
Businesses need to have a deeper understanding of the market dynamics to gain a competitive edge in the coming decade. Get our ‘ Value Apparel Market’ report today, which will help you to:
- Gain a comprehensive view of the value apparel market and forecasts to 2027.
- Explore new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of recent events on the value apparel market.
- Investigate key trends in the value apparel market.
- Understand who the main competitors are in the category and their profiles.
We recommend this valuable source of information to anyone involved in:
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Value Apparel Market Report Overview
The value apparel market size grew by 3.8% in 2022 to reach $228.8 billion in 2022, exceeding pre-pandemic levels and outperforming the other apparel price positions. This was partly due to consumers trading down to more affordable brands as they faced inflationary pressures, but also due to the rapid rise of fast fashion player Shein, which has leaped into the market-leading position. The market is expected to grow at a CAGR of more than 3% during 2022-2027.
Value Apparel Market Outlook, 2022-2027 ($ Billion)
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The value apparel market research report provides historical and forecast period data for value apparel sales globally. This report offers a detailed analysis of the market with the impact of recent events on customer shopping behavior, key apparel retailers, and sectors.
Market Size (2022) | $228.8 Billion |
CAGR | >3% |
Historical Period | 2017-2022 |
Forecast Period | 2023-2027 |
Key Categories | · Clothing
· Footwear · Accessories |
Key Regions | · Americas
· APAC · Europe · Middle East and Africa |
Key Brands | · Shein
· Target · Primark · Decathlon · Walmart · Kik |
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Value Apparel Market Dynamics
With rising inflation restricting consumers’ disposable incomes, affordability remains a key factor when purchasing apparel, particularly for those on lower incomes. The affordability of value brands allows consumers to purchase new clothing without compromising on other spending areas such as necessities and leisure. Besides, as inflation eases, consumers may choose to remain loyal to value brands while their finances recover from years of economic difficulties.
A recent trend in the value apparel market is collaboration. Retailers are increasingly using collaborations as a tool to generate brand awareness, by gaining exposure among previously untapped shoppers. Partnerships often create excitement due to their usually limited-edition nature, transforming the products into highly coveted exclusive collectibles. Collaborations can include partnering with other brands, beloved franchises, celebrities, and influencers, capitalizing on existing fanbases that are eager to support their favorites. Limited-edition partnerships are also a good way to venture into new categories or product offerings without committing to expansive ranges.
Value Apparel Market Segmentation by Category
The key categories of the value apparel market are clothing, footwear, and accessories. The clothing segment led the market in 2022, as consumers traded down to value players for their apparel needs due to higher costs of living. The category was mainly driven by womenswear, which rose significantly. This can be attributed to the soaring popularity of Shein among young females globally.
Value Apparel Market Analysis, by Category, 2022 (%)
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Value Apparel Market Segmentation by Regions
The key regions of the value apparel market are the Americas, APAC, Europe, and the Middle East and Africa. The Americas generated the highest revenue in the value apparel market in 2022. It is likely to maintain its position due to the presence of major apparel brands such as Shein, Walmart, Target, and Forever 21 in the US.
Value Apparel Market Analysis, by Regions, 2022 (%)
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Value Apparel Market – Competitive Landscape
Some of the major companies in the value apparel market are Shein, Target, Primark, Decathlon, Walmart, and Kik among others. Shein emerged as the uncontestable winner within the value apparel market, growing its share at an exponential rate in 2022.
Value Apparel Market Analysis, by Brands, 2022 (%)
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Key Segments Covered in this Report
Value Apparel Market Category Outlook (Value, $ Billion, 2017-2027)
- Clothing
- Footwear
- Accessories
Value Apparel Market Regions Outlook (Value, $ Billion, 2017-2027)
- Americas
- APAC
- Europe
- Middle East and Africa
Key Highlights
- Recovery in 2021 will be driven by the online channel and focus on casual styles.
- Grocers will continue to play an important role in the growth of value apparel.
- Asia-Pacific will drive growth in the value apparel market over the next five years.
- Shein is the biggest winner within the value apparel market.
- Several value players have launched partnerships with designers, celebrities, or franchises, to help drive brand awareness and boost their credentials, including Primark’s collaboration with Greggs, and Shein’s collection with the Frida Kahlo Corporation.
GU
Target
Pepco
Cider
EGO
Rihoas
Cotton On
Shein
Primark
Table of Contents
Frequently asked questions
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What was the value apparel market size in 2022?
The apparel market size in value was valued at $228.8 billion in 2022.
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What is the value apparel market growth rate during the forecast period?
The value apparel market is expected to grow at a CAGR of more than 3% during 2022-2027.
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Which was the leading category in the value apparel market in 2022?
The clothing category accounted for the highest revenue share of the value apparel market in 2022.
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Which region led the value apparel market in 2022?
The Americas generated the highest revenue in the value apparel market in 2022.
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Which are the key brands in the value apparel market?
Some of the key brands in the value apparel market are Shein, Target, Primark, Decathlon, Walmart, and Kik.
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