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Indian apparel market grows at 13 per cent: CARE ratings

The market for apparels in India grew at a CAGR of 13.8 per cent in fiscal ’18. While men’s clothing continues to have the biggest chunk of the apparel market, at 41 per cent, children’s wear at 21 per cent of the overall market is the fastest growing segment in India. Women’s wear contributes almost 38 per cent and is largely dominated by ethnic apparel such as saris and suits. However, denim is the fastest growing sub-segment for women’s wear. The robust growth in this segment can be attributed to rising income levels, rising number of working women and more college going women.

Indians spent Rs 5,408 billion on buying clothes in 2018, a jump from the Rs 1,924 billion they spent in 2010, as higher disposable incomes, greater migration to large cities, and brands opening up in non metros helped more people access branded clothing. The overall apparel consuming population in India has gone up in the last decade. A shift in demographics and a rise in the number of people residing in urban areas have helped Indian households access more brands.

Delhi, Mumbai, Bangalore, Chennai are the largest consumers of apparel in India even though less than 20 per cent of India’s population lives in these cities. These markets also have a higher penetration of women’s western wear as compared to Tier I or II cities of the country.