United States Apparel and Footwear Markets 2021-2027 - Increasing Brand Awareness and Preference for Imported Goods

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Oct 12, 2021, 14:00 ET

DUBLIN, Oct. 12, 2021 /PRNewswire/ -- The "United States Apparel and Footwear Markets 2016-2020 & 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The United States Apparel and Footwear Market was valued USD267.99 billion in 2020 and it is anticipated to reach up to USD390 billion, by the end of 2026 and grow at a CAGR of 6.25% during the forecast period owing to new and fashionable trends.

The apparel and footwear market in the United States has been steadily developing, owing to rising disposable incomes, increasing brand awareness and preference for imported goods, as well as growing organized retail and e-commerce channels and powerful supply chain networks.

Furthermore, factors such as the growing population within the United States and the introduction of regional and international companies is boosting the apparel and footwear industry in the United States.

The fashion sector is supported by the apparel, footwear, and accessories industries. As a result, their primary goal is to provide the user the feeling of being well-dressed and look attractive to oneself and others, making the apparel and footwear business one of the most coordinated and well-developed sectors.

The United States Apparel and Footwear Market can be segregated based on type, end-user, distribution channel, and region. The United States Apparel and Footwear Market is segmented into two broad segments including apparel and footwear. The apparel is the dominating segment in comparison to footwear.

Some of the driving factors for the apparel market are rapidly changing fashion, increasing influence of fashion industries' icons, growing internet penetration, as well as the continuous launch of altering fashion at lower prices supported by aggressive branding. The distribution channel in the United States Apparel and Footwear Market has also been segmented into specialty stores, supermarkets/hypermarkets, online channels, and others.

In the year 2026, specialty stores segment is anticipated to account for a majority share in the United States Apparel and Footwear Market. However, the online channels segment is expected to grow during the forecast period as it is more convenient and offers a wide range of products to its consumers within a shorter duration.

In terms of region, the United States Apparel and Footwear Market is categorized into South, West, North-East, and Mid-West. Among these regions, Southern region is the one which is majorly contributing to the industry, due to states like California, which has the highest population and New York state which is known as the fashion hub and is the utmost reason for the highest sales generation within the region.

The apparel and footwear market has become an attractive destination for investments and several large multinational companies are entering into this market.

Competitive Landscape

Some of the major players operating in this market are

Nike, Inc.
VF Corporation
adidas America, Inc.
Under Armour, Inc.
PVH CORP.
LEVI STRAUSS & CO.
H&M Hennes & Mauritz LP
Kering Americas, Inc.
Zara USA, Inc.
Puma North America, Inc.
ROCKY BRANDS, INC.
SKECHERS U.S.A., INC.
Richemont North America, Inc. (Dunhill, Peter Millar, and NET-A-PORTER)
ASICS America Corporation
Geox USA, Inc.

Report Scope:

Years considered for this report:

Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026

United States Apparel and Footwear Market, By Type:

Apparel
Footwear

United States Apparel and Footwear Market, By End-User:

Women
Men
Kids

United States Apparel and Footwear Market, By Distribution Channel:

Specialty Stores
Supermarkets/Hypermarket
Online Channels
Others (Counter Shops, Departmental Stores, etc.)

United States Apparel and footwear Market, By Region:

South
West
North-East
Mid-West

For more information about this report visit https://www.researchandmarkets.com/r/b2h8ct

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Research and Markets
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SOURCE Research and Markets