Women's Wear Market: Transforming India's Apparel
14 June 2023, Mumbai
The Indian Women's Wear Market, with a valuation of Rs 1,02,358 Cr. in 2020, is a key driver of transformation in India's apparel industry.
Shifting Consumer Behavior and Empowered Women Propel Market Growth
This market has witnessed a significant shift in consumer behavior, with modern Indian women prioritizing not only beauty but also the preservation of their unique charm. Financial independence has empowered women, making affordability less of a concern.
What all you need to know
As a result, they seek clothing that enhances their self-esteem, fueling the demand for innovative designs and styles.
Fusion of Tradition and Modernity Reinvents Fashion Landscape
Traditional clothing is undergoing a remarkable transformation, blending with contemporary elements to create a fusion of ethnic and Western wear. This trend has gained immense popularity, especially among the younger generation of consumers.
The convergence of traditional and modern designs has breathed new life into the Indian Women's Wear Market, expanding its appeal and driving the market growth.
Economic Growth and Seamless Payment Experiences Boost Demand
Factors such as India's economic growth, increasing disposable incomes, and the availability of seamless payment experiences have contributed to the rising demand in the Indian Women's Wear Market.
The country's expanding middle class and thriving manufacturing industry have positioned India as a fashion hub. International brands recognize the potential of this market and are keen to establish their presence.
Comprehensive Research Provides Insights and Projections
Thorough research and analysis form the foundation of understanding the Indian Women's Wear Market. The report encompasses comprehensive market insights, incorporating real-world data from 2016 to 2020.
The projections until 2027 enable stakeholders to make informed decisions. The report covers various regions, including North America, Europe, Asia Pacific, South America, and the Middle East and Africa, providing a holistic view of the market landscape.
Ethnic Wear Dominates, with Sarees Leading the Pack
Ethnic wear holds a prominent position in the Indian Women's Wear Market. Sarees, salwar kameez, and blouse dresses contribute significantly to the market's growth, particularly sarees, with a market value of Rs 36,035 Cr. Sarees remain widely accepted across urban and rural India, symbolizing elegance and tradition.
Rising Working Women Population Drives Transformation in India's Women's Wear Market
The women's wear market in India is undergoing a remarkable transformation, reshaping the apparel industry.
With a projected market value of nearly 39 billion U.S. dollars by 2025, according to Statista, the sector is experiencing substantial growth driven by various factors, including the rise in the working women population in India.
Ethnic Wear Dominates the Market with Impressive Market Value
Ethnic wear holds the largest market share within the women's wear sector in India. In the financial year 2021, the market size of Western wear in women's apparel amounted to 147 billion Indian rupees.
Although this represented a decrease compared to the previous year, it is estimated to reach around 355 billion rupees in the financial year 2025.
Significant Valuation and Growth Potential of the Indian Women's Wear Market
The Indian Women's Wear Market was valued at Rs 1,02,358 Cr. in 2020, reflecting its immense size and impact on the industry.
Furthermore, it is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period from 2021 to 2027. This growth projection indicates the market's potential and attractiveness for industry players.
Summarisation
The Indian women's wear market is undergoing a transformative phase, driven by factors such as the increasing working women population.
Ethnic wear continues to dominate the market, while the overall market value and growth potential remain significant, making it a promising sector within the Indian apparel industry.
The Indian Women's Wear Market, valued at Rs 1,02,358 Cr. in 2020, is driving a transformative wave in India's apparel industry.
Shifting consumer preferences, the fusion of tradition and modernity, economic growth, and the dominance of ethnic wear are reshaping the fashion landscape and attracting international brands to tap into this thriving market.
