The apparel market is mainly focused on the design and production of yarn, clothing, and its distribution. The raw materials may vary from natural to synthetic. As an integral part of the global fashion industry, the apparel industry is highly responsive to changing design trends as well as manufacturing and delivering products to wholesale and retail markets. These factors make the apparel industry highly competitive and fragmented due to the presence of several niche segments and competitors.
Growing awareness about the latest fashion trends, along with demand for sports and fitness clothing, has driven the demand from the global apparel market. Demand for green and organic clothing has emerged as a huge opportunity for the market to grow in the future. However, the apparel market has been affected by factors such as raw material costs and affordability and availability of labor. Keeping in view the operating costs and profitability, leading apparel houses in the U.S. and Europe are partnering with local players in developing economies such as India, China, and Brazil, where labor wages are low and environmental regulations are not as stringent as in the developed world. The market has been segmented into clothing, accessories, footwear, and luxury items for men, women, and kids.
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