Plus Size Clothing Market to Reach $696.71 Billion, Globally, by 2027 at 5.9% CAGR, Says Allied Market Research

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Apr 06, 2021, 09:40 ET

PORTLAND, Ore., April 6, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Plus Size clothing Market by Type (Casual Wear, Formal Wear, Sportswear, and Others), Gender (Male and Female), Age Group (Below 15, 16 to 59, and 60 & Above) and Price Point (Economy, Mid-Range, and Premium): Global Opportunity Analysis and Industry Forecast, 2021–2027" According to the report published by Allied Market Research, the global plus size clothing industry 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.

Determinants in the 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 omnichannel retail and growth in brand presence in the industry offer a number of lucrative opportunities to the market players.

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Covid-19 Scenarios-

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.

The casual wear segment to dominate the market by 2027-

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.

The male segment to lead the trial throughout the forecast period-

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 ofproportionately 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.

The North America region to rule the roost 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.

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The key players profiled-

(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.)
Under Armour, Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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