The global apparel & non-apparel manufacturing market had total revenues of $898.3bn in 2019, representing a compound annual growth rate (CAGR) of 5.3% between 2015 and 2019. The apparel segment was the market's most lucrative in 2019, with total revenues of $554.7bn, equivalent to 61.7% of the market's overall value.
Global Apparel & Non-Apparel Manufacturing industry profile provides top-line qualitative and quantitative summary information including: Market size (value 2015-19, and forecast to 2024). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Market.
The value of each segment is for consumption, defined as domestic production plus imports minus exports, all valued at manufacturer prices.
Apparel covers all clothing except leather, footwear and knitted items.
Non-apparel products include technical, household, and other made-up non-clothing products.
All currency conversions use constant average 2019 exchange rates.
Figures presented in this report are calculated applying the "middle path" scenario - this is based on the current situation in countries where the epidemic burst first, like China as a model countries and the announcements made by governments, stating that the abnormal situation may last up to six months.
The assumption has been made that after this time the economy will gradually go back to the levels recorded before the pandemics by the end of the year.It is also assumed that there is no widespread economic crisis as seen back in 2008 due to announced pay-outs across countries.
At the moment of preparation of this report in June 2020 the economic implications of the lock downs of many economics are still very difficult to predict as there is no indication how long the pandemics could last, the number of sectors forced to stay closed and the scale of the governmental' aid involved.At the same time the weight of the pandemic seriousness is applied on the individual countries in this report based on death to population ratio recorded in countries.
Majority of the industries will see the decline in volume of the goods and services offered by companies.Usually the lower demand would cause the decrease the prices level.However, amid many governments' ordered for many industries to lock down and so the supply chain is distorted that in great pictures mitigate the results of lower demand.
Applied scenarios differ depending on the individual sector, however generally sectors which involves intensive manual labor and face to face interaction seem to be hit the most by present situation.On the other hand the internet based businesses as well as the producers of the vital, subsisted products and services seems to take advantages of the current events.
China is the world's largest manufacturer and is often referred to as the world's factory'.The market has been boosted in recent years due to the country's low labor costs, skilled labor and infrastructure.