CLEVELAND, Oct. 3, 2019 /PRNewswire/ -- US demand for apparel is forecast to rise 1.7% annually in nominal terms through 2023, according to Apparel: United States, a report recently released by Freedonia Focus Reports. Ongoing population expansion will drive gains, as will increasing personal income, driving spending on luxury, environmentally friendly, and name-brand items. An ongoing athleisure trend will boost demand for higher priced apparel made from performance materials. Growing raw material costs and the threat of tariffs on clothing from China will force apparel manufacturers to lower margins or raise prices.
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However, the mature market for clothing and intensifying competition from a variety of retail channels will limit volume growth and price increases. In addition, more consumers are purchasing apparel (especially athletic apparel) wearable for a variety of activities in diverse social contexts, such as fitness centers, workplaces, and restaurants, reducing the number of garments needed throughout the day.
These and other key insights are featured in Apparel: United States. This report forecasts to 2023 US apparel demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
- intimates and sleepwear
- coats, jackets, and suits
- other apparel such as overalls, swimwear, and tracksuits
Total demand is also segmented by demographic as follows:
- women's and girls'
- men's and boys'
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2008 to 2018.
Non-fabric or non-apparel accessories such as eyewear, footwear, handbags, jewelry, luggage, purses, and watches are excluded from the scope of this report. Single-use disposable apparel is also excluded. Re-exports of apparel are excluded from demand and trade figures.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group