The increasing penetration of the services industry is driving the global corporate clothing market.
Covid-19 Impact & Market Status
Despite the COVID-19 dilemma, the worldwide Corporate clothing market, which was forecast to be worth US$35.2 billion in 2022, is expected to increase to US$42.7 billion by 2026, with a CAGR of 4.6 percent throughout the research period. Apparel, one of the report's sectors, is expected to increase at a 4.3 percent compound annual growth rate (CAGR) to reach US$33.9 billion by the conclusion of the analysis period. After a detailed examination of the pandemic's commercial ramifications and the resulting economic crisis, the Footwear segment's growth is corrected to a revised 5.5 percent CAGR over the next seven years. The worldwide Corporate clothing market is now dominated by this sector, which holds a 22.9 percent share.
Corporate Clothing Segment Accounted for Highest Revenue
The global corporate clothing market is classified into general corporate clothing, corporate clothing, uniforms on the basis of type. Among these, the corporate clothing segment held the highest market revenue owing to factors like high preference to professional look with minimal color patters, and stiff fabrics.
Service Sector Industry Segment Held the Largest Market Share
In 2021, the service industry segment led the global corporate clothing market, accounting for almost 55.0 percent of total sales. The industrial sector's large number of men employees is predicted to encourage men's clothes and footwear. Companies have been reported to buy men's corporate clothing in large quantities. From 2022 to 2029, the women's category is predicted to grow at the fastest rate of 6.1 percent. The expansion of women working for the population on a global scale is a crucial element driving this segment's growth. Gender discrimination against hard work is dwindling, resulting in an increase in women's workforce throughout the world. Companies have begun to provide stylish women's corporate clothing as a result of their grasp of these trends. For example, Safety Girls, a firm established in the United States, offers a variety of colours, sizes, and designs in women's fashion corporate clothing.
North America Held The Largest Market Share
North America was the largest market in 2021, accounting for more than 45.0 percent of worldwide sales. Employees must wear materials having a flammable spread of 3.5 seconds or more for plain surface fabrics, more than 7 seconds for raised surface fabrics, and 0-7 seconds for raised surface fabrics without ignition, according to the United States government. Employees in the manufacturing industry in the United States and Canada wear corporate clothing as a result of government requirements. With a CAGR of 6.9% from 2019 to 2025, Asia Pacific is the fastest-growing market. The existence of a large working-class population in nations such as China, India, and Japan is increasing demand for this product in the area. Furthermore, because of the low cost of labour and the abundance of raw materials, corporations from North America and Europe are establishing production hubs in this region.
In the year 2022, the Corporate clothing market in the United States is expected to be worth US$12.6 billion. In the worldwide market, the country now holds a 35.98 percent stake. China, the world's second biggest economy, is expected to reach a market size of US$4.6 billion in 2026, representing a CAGR of 6.4 percent over the study period. Japan and Canada are two additional important geographic markets, with forecasted growth rates of 3.6 percent and 4.3 percent, respectively, throughout the research period.
Large-scale employment emerged from growth in the services industry due to the advent of new work prospects is driving the global corporate clothing market.
Owing to benefits such as employee motivation, enhanced customer relation, brand building, professional look, enhanced wearer personality, lasting impression of a company, persistent brand identity, internal and external benefits to the company, the corporate clothing is experiencing rapid adoption as opposed to casual wear thus fostering global progress in global corporate clothing market.
The factors such as high preference to professional look with minimal color patters, and stiff fabrics is increasing the demand of corporate clothing thus driving the global corporate clothing market.
The worldwide Corporate Clothing market is predicted to grow at a CAGR of 4.0 percent from 2022 to 2029, to reach US$ 76410 million by 2029.
Corporate clothing, often known as uniforms and corporate clothing, is described as clothing purchased by businesses or organisations, and distributed to their personnel for the purpose of doing their jobs. Uniforms & Corporate clothing are frequently chosen by persons working in trade sectors since they are designed to provide durability and safety.
People who work in the corporate sector and have a conventional 9 AM to 6 PM employment wear corporate attire. The services industry accounts for around 60% of global GDP. Industrial corporate clothing is mostly utilised in the manufacturing industry. Many people work in manufacturing businesses and wear industrial corporate clothing during their shifts. Many manufacturing enterprises are in emerging nations, where capital requirements are minimal and labour markets are plentiful.
Women are being paid equally and have similar opportunities to work, which is pushing the corporate clothing industry. People who work in the organised sector are more likely to wear corporate clothing, and some firms have made it essential to wear it during working hours. Uniforms are provided by many firms, particularly in the manufacturing sector, such as retail, food, pharmaceuticals, healthcare, autos, security, fast moving consumer products, and so on.
However, production costs of corporate clothing are generally higher due to the smaller batch sizes. Also, due to high costs the many employees prefer casual clothing. This is hampering the global corporate clothing market.
Nevertheless, employees preferring smart clothing, fast growing IT sector in developing and developed countries like United States, UK, China, India, Germany, Singapore, Canada, etc are driving the global corporate clothing market.
Moreover, looking smart and feeling comfortable is what every employee feels which have increased the demand for corporate clothing. These factors anticipated to be a growth opportunity for the global corporate clothing market.
Fristads Kansas AB, Williamson-Dickie Manufacturing Company, VF Corporation, Alsico NV, Carhartt, Inc., Johnsons Apparelmaster Limited, Hultafors Group Sverige AB, G&K Services, Inc., Aditya Birla Fashion & Retail Ltd., and Shanghai ShenAn Textile Co., Ltd. are key players in the global corporate clothing market.
Latest Innovation in the Global Corporate Clothing Market: A Snapshot
Capri Holdings, the international fashion luxury group recently announced that it will be donating over €1 million in essential clothing to the aid the people displaced during covid-19 war.
Corporate Clothing Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||US$ 76410 million|
|Growth Rate||CAGR of 4.0 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Fristads Kansas AB, Williamson-Dickie Manufacturing Company, VF Corporation, Alsico NV, Carhartt, Inc., Johnsons Apparelmaster Limited, Hultafors Group Sverige AB, G&K Services, Inc., Aditya Birla Fashion & Retail Ltd., and Shanghai ShenAn Textile Co., Ltd.|
Key Segments of the Global Corporate Clothing Market
Type Overview, 2019-2029 (USD Million)
- General Corporate clothing
- Corporate Corporate clothing
Application Overview, 2019-2029 (USD Million)
- Manufacturing industry
- Service Industry
- Mining Industry
- Agriculture & Forestry
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa