by Merchandise designing refers to artistic designing of clothing, accessories, footwear and other products related to fashion. This includes designing of various apparel and products keeping latest fashion trends and customer preferences in mind. Designers focus on providing innovative, attractive and quality designs that appeal to different customer segments. Major players in this market design for top retail brands, departmental stores as well as e-commerce platforms. They create unique designs for men’s wear, women’s wear, kids wear and other categories.
The global merchandise designing market is estimated to be valued at US$ 107.13 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing demand from the e-commerce industry is driving the merchandise designing market. E-commerce platforms require a continuous flow of new designs to attract online shoppers. This has increased the demand for designers who can create many designs on regular basis. Furthermore, the ease of doing business online has resulted in the entry of many new companies in the e-commerce space which is further stimulating the need for innovative designs. Advancements in designing software have also enabled designers to work remotely and efficiently deliver large number of designs to multiple clients, thus supplementing the market growth. Rapid growth of the e-commerce industry globally is expected to push the merchandise designing market upwards over the forecast period.
Segment Analysis
The merchandise designing market can be segmented based on type, application, and end-user. Based on type, the merchandise designing market is segmented into apparel, accesories, shoes, toys, home goods and others. The apparel segment dominates the market and accounted for over 35% share in 2023. This is mainly due to the growing demand for unique and customized apparel designs from the end consumers.
PEST Analysis
Political: The apparel and merchandising industry is impacted by changing trade policies and regulations related to textile imports and exports in major markets.
Economic: A rise in disposable incomes has increased consumer spending on fashion and accessories across regions. This is a positive factor for the growth of the merchandise designing industry.
Social: Younger population is more inclined towards latest fashion trends and customized products. This has increased the demand for new and innovative designs in the merchandise designing market.
Technological: Adoption of virtual reality, 3D designing and simulation tools is allowing designers to create realistic designs digitally and get quicker feedback. This is helping merchandise designers to launch new collections faster.
Key Takeaways
The Global Merchandise Designing Market Growth is expected to witness high at a CAGR of 5.5% during the forecast period of 2023 to 2030. The Asia Pacific region dominated the market and accounted for over 30% share in 2023 led by strong growth in China, India and other Southeast Asian countries.
Regional analysis
The Asia Pacific region is expected to be the fastest growing region in the merchandise designing market supported by increasing fashion consciousness, emerging middle class and growing youth population in the region. China dominates the Asia Pacific region driven by strong domestic demand and a large manufacturing base of apparel and textile products in the country.
Key players
Key players operating in the merchandise designing market are 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. Nike leads the global market followed by Adidas owing to their robust product design capabilities and strong brand equity globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
