by The global Merchandise Designing Market is estimated to be valued at US$ 92.99 Bn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The merchandise designing market involves companies that design apparels, footwear and accessories for various brands. These companies focus on sustainable and comfortable designs using eco-friendly fabrics. They design stylish yet durable products to meet the evolving needs of consumers.
Market key trends:
One of the key trends in the merchandise designing market is growing focus on sustainable fashion. There is increasing demand for apparels, footwear and accessories made from organic, recycled and natural fabrics. Major brands are investing in sustainable manufacturing and sourcing renewable materials to appeal to environmentally conscious customers. They are adopting circular design approaches to reduce waste and promote recycling. Furthermore, cutting-edge fabric technologies are enabling designers to create high-performance, long-lasting garments using bio-based materials.
Segment Analysis
The merchandise designing market is segmented by type into athletic apparel and footwear, non-athletic apparel, accessories, and others. The athletic apparel and footwear segment dominates the market and accounts for over 35% share. This is because of the growing popularity of sports and fitness activities among people worldwide. Developments in fabrics and designs have enhanced comfort and performance of athletic apparel and footwear, thereby driving their demand.
Key Takeaways
Market size
Global Merchandise Designing Market Demand is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period, due to increasing health awareness and growing participation in sports and fitness activities among people globally.
Regional analysis
North America dominates the global market, accounting for over 30% share. This is attributed to high disposable incomes and growing demand for trendy sports and casual apparel in the region. Asia Pacific is anticipated to be the fastest-growing region owing to rising living standards and increasing health consciousness in developing countries like China and India.
Key players
Key players operating in the merchandise designing market include Nike, Adidas, Puma, Under Armour, New Balance, ASICS, VF Corporation, Lululemon, Columbia Sportswear, Ralph Lauren, Li Ning, L Brands, H&M, Zara, Uniqlo, Forever21, Gap, Next, Esprit, and C&A. Brands like Nike and Adidas dominate the market due to their diversified product portfolio and strong distribution network globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
