Plus Size Clothing Market To Reflect Growth Potential With A Highest CAGR Of 5.3% From 2024 To 2033

(MENAFN- EIN Presswire) EINPresswire/ -- According to a new report published by Allied Market Research, titled, "Plus Size clothing Market by Type, Gender, Age Group and Price Point: Global Opportunity Analysis and Industry Forecast, 2021-2027". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global compression wear & shapewear market is estimated to reach $6.95 billion by 2030, growing at a CAGR of 7.7% during the forecast period.

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Rise in demand for plus size clothing, owing to growth in obese population, rise in confidence of consumers, and increase in number of brands offering plus size range garments has propelled the growth of plus size clothing market. Rise in demand for plus size clothing owing to obese and overweight population, growing trend of body positivity, and rise in confidence among plus size women due to strong fashion advertisements and promotional campaigns drive the growth of the plus size clothing market.

Rise in demand for plus size clothing owing to obese and overweight population, growing trend of body positivity, and rise in confidence among plus size women due to strong fashion advertisements and promotional campaigns drive the growth of the plus size clothing market. However, high pricing for retailers and complexity in manufacturing curtail down the growth to certain extent. Moreover, rise in availability of plus size clothing via omni channel retail and growth in brand presence in the industry offer a number of lucrative opportunities to the market players.

Based on type, the casual wear segment contributed to nearly one-third of the global plus size clothing market share in 2019 and is anticipated to lead the trail during the study period. This is due to growing adoption and acceptance of casual wear among consumers for social occasions. On the other hand, the sportswear segment would grow at the fastest CAGR of 6.4% by 2027. The change in consumer choices and preferences and increasing inclination towards athleisure sportswear drive the growth of the segment.

Based on gender, the male segment held largest market share with around half of the global plus size clothing market revenue in 2019 and is expected to rule the roost during the forecast period. This is attributed presence of proportionately large male obese population and high spending on plus size clothing. On the other hand, the female segment is expected to manifest the fastest CAGR of 7.50% throughout 2027.

Based on geography, North America dominated the market with major share in 2019, holding more than one-third of the global plus size clothing market. This is owing to the factors such as availability of largest obese population and highest consumer spending on plus size clothing in this region. Moreover, the Asia-Pacific region is also anticipated to register the fastest CAGR of 6.50% during 2020 to 2027. This is owing to the increasing average caloric intake per individual among middle class and high-income households in this province.

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The key players operating in the global plus size clothing market analysis include (H&M) Hennes & Mauritz AB, Ralph Lauren Corporation, Adidas AG (Adidas), PUMA SE, Nike, Inc. (Nike), ASOS plc, Capri Holdings Limited (Michael Kors), WHP Global (Anne Klein), Punto Fa SL (MANGO Inc.) and Under Armour, Inc.

Exploring Growth Prospects and Demand Trends in the Plus Size Clothing Industry:

Changing Demographics: The demand for plus-size clothing is being driven by shifting demographics, including an increase in the number of overweight and obese individuals globally. Additionally, there is a growing population of young consumers who prioritize inclusivity and diversity in fashion, leading to greater demand for extended sizing options.

Influences of Body Positivity: The body positivity movement has played a significant role in changing societal perceptions of beauty and promoting self-acceptance regardless of size. This movement has led to increased demand for fashionable clothing options that cater to a diverse range of body types.

Retailer Responses: Many fashion retailers and brands are recognizing the importance of inclusivity and are expanding their size ranges to accommodate a wider variety of body shapes and sizes. This includes both traditional retailers and direct-to-consumer brands that specialize in plus-size fashion.

E-Commerce and Online Shopping: The rise of e-commerce has been particularly beneficial for the plus-size clothing industry, as online retailers can offer a wider selection of sizes and styles without the space constraints of physical stores. Online shopping also provides a more comfortable and inclusive shopping experience for many plus-size consumers.

Fashion Trends and Design Innovation: The plus-size clothing industry is becoming increasingly fashion-forward, with designers and brands offering stylish and on-trend options across a range of categories, including activewear, swimwear, formalwear, and casual wear. Design innovation and attention to fit are crucial for meeting the needs and preferences of plus-size consumers.

Marketing and Representation: Effective marketing strategies that prioritize diversity and inclusivity are essential for reaching and engaging plus-size consumers. Brands that feature diverse models of varying sizes in their advertising campaigns and promotional materials are more likely to resonate with this demographic.

Key findings of the study:

○ By type, the casual wear plus size clothing segment was the highest contributor to the plus size clothing market, with $1,48,158.9 million in 2019, and is estimated to reach $2,20,779 million by 2027, at a CAGR of 6.3% during the forecast period.
○ By gender, the male segment was the highest contributor to the market, with $2,41,736.50 million in 2019, and is estimated to reach $3,38,032.8 million by 2027, at a CAGR of 6.8% during the forecast period.
○ By age group, the 16 to 59 segment was the highest contributor to the market, with $2,82,918.9 million in 2019, and is estimated to reach $4,09,215 million by 2027, at a CAGR of 5.9% during the plus size clothing market forecast period.
○ By price point, the mid-range segment was the highest contributor to the market, with $1,79,370.6 million in 2019, and is estimated to reach $2,58,260.7 million by 2027, at a CAGR of 5.8% during the forecast period.
○ In 2019, North America was the highest revenue contributor, accounting for $1,70,691.5 million in 2019, and is estimated to reach $2,50,816.3 million by 2027, with a CAGR of 6.1%.

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