According to a new report published by Allied Market Research, titled, "Readymade Garment Market by Product Type, Application, Fabric Type, Age Group, Sales Channel, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2027”, global readymade garments market is projected to reach $1,268.3 billion by 2027, with a CAGR of 8.8 per cent from 2021 to 2027. The outer clothing segment is estimated to grow at a CAGR of 8.8 per cent during the forecast period.

China is the largest country in terms of demand and production of readymade garments in the readymade garments market. E-commerce is anticipated to witness the highest growth rate, registering a notable CAGR from 2021 to 2027, in value terms. The formal wear segment is estimated to grow at a CAGR of 9.1 per cent during the forecast period. However, the others segment is expected to witness higher growth rate during the forecast.

The woven garments market is estimated to register a CAGR of 9.1 per cent during the forecast period. However, the non-woven segment is expected to witness a high growth rate of 8.6 per cent during the forecast period. Based on As age group, the adult segment is estimated to grow at a CAGR of 9.1 per cent during the forecast period. However, kids segment is expected to witness a high growth rate of 9.4 per cent during the forecast period.

According to sales channel, the supermarket/hypermarket segment is estimated to exhibit a CAGR of 9.0 per cent during the forecast period. However, the e-commerce segment is expected to witness higher growth rate during the forecast.