The global Apparel Supply Chain Market size is estimated to reach USD 1,119.69 billion by 2028, registering a CAGR of 3.8% during the forecast period from 2022 to 2028, according to a new report by Grand View Research, Inc. The growing attractiveness of apparel supply chains in developing countries with a mounting level of outsourcing is one of the key factors that drive the growth of the apparel supply chain market.
Abuse against rights of human and labor is present in
the apparel supply chain and also lacks transparency regarding the company's
business practices. Thus, the impact of these practices on communities and
workers of the particular company is a major factor restraining the market
growth.
Moreover, the demand forecast and inventory management
in the apparel industry is difficult as well as challenging, which is expected
to act as a barrier for the market and thus hindering the market growth. Most
of the key players, operating in the apparel supply chain market, are adopting
various strategies to hold maximum industry share, globally.
The COVID-19 pandemic has negatively impacted the
apparel supply chain market. It witnessed a decrease due to the global lockdown
as the major activities of supply chain were disrupted across, the globe. A
shortage of raw materials has also been observed due to the COVID-19 and
projecting a negative impact on the market.
The pre-production segment contributed to the global
market revenue share of more than 80.0% in 2021 and is expected to growth at
the fastest CAGR of 3.9% during the forecast period. The increasing demand for
the products coupled with the rising use of e-commerce for the determination of
purchasing apparels are the factors increasing the usage of the apparel supply
chain for the pre-production segment. Thus, its demand is high and contributes
more to the market revenue.
Asia Pacific accounted for the largest market revenue
share of more than 55.0% in 2021 and is expected to expand at the highest CAGR
of 4.4% during the forecast period. The increasing usage of e-commerce platforms
for purchasing apparel along with rising trades of apparel in the region is
expected to contribute to the market growth. Moreover, the easy availability of
raw materials at a reasonably lower price coupled with being the chief
manufacturers of apparel are also adding to the market growth. Thus, it
contributes to more revenue generation in Asia Pacific.
Related Press Release@ Apparel Supply Chain Market Report
Apparel Supply Chain Market
Report Highlights
- Europe is forecast to expand at a considerable CAGR of 3.9% from
2022 to 2028. This growth is attributed to the availability of
advantageous guidelines concerning trade agreements enforced by the
government
- The trade logistics segment is expected to grow with a significant
CAGR of 3.2% during the forecast period. Trade logistics offers company
with elasticity and permits them to regulate their procedures in an
improved and enriched manner along with saving costs
- The trade logistics assists them to intensify the overall clearness
of the supply chain and supports in well understanding of cost,
operations, inventory management, and others which is increasing its usage
in the apparel industry, thus driving the market growth
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment