Top apparel retail markets
Apparel retail sales by region
#1 According to industry estimates, the world’s apparel retail market is expected to enjoy a 7.6-8.6 percent growth 2021-2022. However, the annual growth rate will slow down to 4.0-5.7 percent during 2022-2024 and down further to 3.8-4.6 percent during 2025-2026.
#2 The Asia-Pacific region, North America, and Western Europe will stay the world’s largest apparel consumption markets, accounting for over 80 percent of the retail sales. However, the Middle East and Africa, and Latin America will be important emerging markets to watch.
#3 Given GDP per capita and the size of the population, China and the United States will remain the world’s top two largest apparel retail markets with no near competitors. However, affected by the macro-economic environment, we may only see modest retail sales growth in these two markets through 2026.