According to the global plus size clothing market report, The — Plus Size clothing Market garnered $480.99 billion in 2019 and is anticipated to reach $696.71 billion by 2027, growing at a CAGR of 5.9% during the forecast period. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape.
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.
The change in consumer choices and preferences and increasing inclination towards at leisure 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. There has been an increasing trend in the female obesity rates, which has driven the growth of the segment.
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The plus size clothing Market 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.
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.
• The market has undergone a massive loss during the covid-19 outbreak. The manufacturing processes were suspended in the initial phase of the lockdown.
• The prolonged lockdowns, furthermore, resulted in supply chain disruptions. This in turn caused shortage of raw materials.
• Moreover, the government in various regions are issuing relaxations. This would aid the industries to resume their processes.
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Key Market Players Profiled In The Report:
• Hennes & Mauritz AB (H&M)
• 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.)
• Under Armour Inc.
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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