Global RMG market to grow at 8.8 percent CAGR by 2027

Jun 09, 2021  |  by Zhao Xinhua


A new report published by Allied Market Research estimates the global readymade garments market will grow at a CAGR of 8.8 percent to reach USD 1,268.3 billion by 2027.

Titled ‘Readymade Garment Market by Product Type, Application, Fabric Type, Age Group, Sales Channel, and Region: Global Opportunity Analysis and Industry Forecast’, the report estimates the outer clothing segment will grow at a CAGR of 8.8 percent during the forecast period. China and the US are expected to lead this growth.
 
Formal wear is estimated to grow at a CAGR of 9.1 percent. However, the others segment is expected to witness higher growth rate during the forecast.
 
The woven segment is estimated to register a CAGR of 9.1 percent during the forecast period. However, the non-woven segment is expected to witness a high growth rate of 8.6 percent during the forecast period.
 
The adult segment is estimated to grow at a CAGR of 9.1 percent while the kids segment is expected to grow at 9.4 percent during the forecast period. Among sales channel, the supermarket/hypermarket segment is estimated to exhibit a CAGR of 9 percent during the forecast period.
 
However, e-commerce segment is expected to witness higher growth rate. Region wise, Asia-Pacific is estimated to grow at a CAGR of 10.1 percent.
 
Source: fashionatingworld.com

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