Global research pioneer RNCOS, in its latest research showcase “China Apparel Industry - New Opportunities for Growth” has thoroughly analyzed apparel industry’s potentials in China. An extensive and conceptual evaluation of the industry exhibited a dynamic market, which is developing by leaps and bounds even in the wake of global economic slowdown. Almost all the segments studied in report have been showing promising growth prospects, making China a global hub for apparel industry developments.
In our analysis, we have acknowledged several critical trends prevailing in the apparel industry that are influencing its current as well as future directions. The report states that currently women wear segment heavily dominates the apparel industry. In 2007, it occupied just over 28% of the overall apparel sales, which surged around 29% in 2008. We anticipate this trend to continue further in coming year amid some concrete developments expected in the market.
The report finds that apart from women wear segment, children’s wear, casual wear, sportswear, etc., are also showing impressive potential in the domestic market. In fact, the sportswear market is forecast to grow over 24% during 2009-2011, which is almost in accordance with the apparel industry’s projected growth.
However, the study has found that on exports front, the industry is facing some serious challenges. In first 10 months of 2009, the apparel exports registered a sharp decline of 10.6% (year-on-year) due to demand cuts from the US and EU market. We recommend Chinese exporters to shift their focus from their traditional export markets to fast developing new markets like ASEAN and Latin American countries. These countries not only provide lucrative growth opportunities but also their market attributes precisely matches with Chinese apparel products.
“China Apparel Industry - New Opportunities for Growth” provides extensive research and thorough analysis on overall apparel industry and its all-prominent segments. The report critically evaluates past and current performance of the industry and facilitates future prospects of the industry developments. The report is aimed at offering clients a conceptual insight into the concerned industry in order to better understand the opportunities, which can be leveraged to become the market leader.
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RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.