Valued at $983.7 billion in 2019, the global readymade garments market size is projected to reach $1,268.3 billion by 2027. As per report by Allied Market Research Report, the market will grow at 8.8 per cent CAGR from 2021 to 2027. The outer clothing segment is estimated to grow at a CAGR of 8.8 per cent during the forecast period.

The demand for readymade garments is expected to increase during the forecast period, owing to change in consumer’s product purchase pattern. In addition, surge in concern among individuals about physical appearance has increased the spending on toiletries and clothing, thus boosting the sale of various readymade clothing throughout the globe. Furthermore, increase in frequency of direct to consumer advertisements and aggressive promotion by key players to push sales for clothing has significantly contributed toward the growth of the readymade garments market.

However, negative impact of garment manufacturing on environment and rise in cases of labor exploitation hinder market growth. Conversely, surge in demand for, functional sports apparel is expected to provide opportunities for readymade garments market growth for the market expansion during the forecast period.

By Fashionating World
https://www.fashionatingworld.com/new1-2/global-rmg-market-to-reach-1-268-3-billion-by-2027