A leading market research company, has launched a new market report on the Indian men apparel industry, “Booming Men Apparel Market in India”, with its focus on market trends, ready-made garment market, fashion industry, growth drivers, challenges and opportunities.
According to the report, the Indian men apparel industry is booming and expected to grow at a CAGR of 14.90% during 2008-2010. Indian rural market will play a pivotal role to achieve this growth rate, says the report, as the perception of rural young generation about clothing is changing.
The report has found that rural India, which was till now completely relying upon tailored garments, has created a strong demand for ready-to-wear garments and it is expected to grow at a CAGR of 16.50% by 2010, creating huge growth opportunities. Consequently, giant apparel companies are targeting rural areas by offering affordable but quality products, says the report. But there is still a wide economic disparity between rural and urban consumers and along with cultural and behavioral differences, it is acting as a barrier for the expansion of the apparel industry in rural India.
The other factor fuelling growth in the Indian men apparel market is fast expanding market for branded clothes. Branded apparel sales are expected to increase tremendously at a CAGR of 24% by 2010, says the report after in depth analysis of consumer behavior, disposable income, retail format, foreign brands, and multi-brand stores.
The report has identified that gradual shifting of retail format in India from unorganized to organized sector and opening of exclusive discounted stores are resulting in high penetration of branded garments. Besides, greater variety, arrival of new trends, and fashion consciousness are also fueling the demand for branded products in metropolitan and suburbs of India.
“Booming Men Apparel Market in India” is a comprehensive analysis of current growth, future growth prospects, challenges, and areas holding growth opportunities that gives clients essential information on the industry. The report also helps client in understanding the consumer behavior, preferences, and various distribution channels existing in the Indian men apparel market.
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