After recovering from the impact of the COVID-19 pandemic in 2021, the global apparel industry faced new difficulties in 2022 due to high inflation. The cost of production increased, and consumer confidence dropped, resulting in a slight decrease in revenue to 1.53 trillion U.S. dollars in 2022. However, the market is expected to rebound in 2023, with revenue forecasted to increase to more than 1.7 trillion dollars, as per analysis of statistics by Statista.

The women’s apparel market generates significantly more revenue than men’s or children’s apparel, with women's apparel alone generating about 163 billion dollars in revenue in the US.

The United States and China are the leading countries in the apparel market, with the highest demand for clothing. China topped the rankings for the highest value of apparel exports in 2021, while the US was second to the EU in the value of apparel imports.

The apparel market has several divisions, including the second-hand apparel industry, which is projected to grow as consumers demand more environmentally conscious options.

The luxury market is also a significant player, expected to double in size from 2022 to 2028.

By Fashionating World
https://www.fashionatingworld.com/new1-2/global-apparel-market-suffered-high-inflation-woes-in-2022-expected-to-recover-in-2023-statista