Merchandise Designing involves conceptualizing and designing various apparel and fashion accessories. It involves creating designs, styles, and specifications to cater to customer preferences and tastes. The growing demand for stylish and comfortable clothing from fitness enthusiasts and millennials is driving the merchandise designing market. Customers want clothing that not only looks good but also offers breathability and versatility in styles depending on their activities. This has increased the need for merchandise designers who can integrate functionality and aesthetics into garment designs.
The global merchandise designing market is estimated to be valued at US$ 92.99 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
The increased demand for stylish and comfortable wear has accelerated the growth of merchandise designing significantly over the past few years. Customers want clothing that serves both form and function depending on their lifestyle and activities. This has pushed apparel brands to focus on designs that offer breathability, flexibility, and versatility in styles. Merchandise designers are experimenting with fabrics, silhouettes, and patterns to integrate functionality into aesthetically pleasing designs. The latest fabric technology and smart textiles that adapt to body movements are also driving innovations in merchandise designs. The emphasis on comfort coupled with emerging trends in athleisure and activewear is expected to continue shaping merchandise designs in the coming years.
Segment Analysis
The global merchandise designing market is segmented into fashion design, graphic design, interior design, industrial design, and other sub-segments. Fashion design holds the largest market share, accounting for over 30% of the total merchandise designing market revenue. The popularity and demand for latest apparel and footwear designs drive the growth of this sub-segment. Constant changes in consumer preferences compel brands to regularly launch new fashion products with unique designs.
Key Takeaways
The Global Merchandise Designing Market Growth is expected to witness high over the forecast period of 2023 to 2030. Demand for innovative product designs in various industries like apparel, footwear, home décor, electronics etc. creates opportunities for designers and drives the market growth. The global merchandise designing market is estimated to be valued at US$ 92.99 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis: North America holds the largest market share currently, owing to the presence of prominent merchandise design brands and establishments in the US and Canada. However, Asia Pacific region is projected to grow at the fastest pace during the forecast period. Rapid economic growth, expanding middle class population and rising living standards in developing countries like China and India support the market expansion in Asia Pacific.
Key players: Key players operating in the merchandise designing market are Nike, Adidas, Puma, Under Armour, New Balance, ASICS, VF Corporation, Lululemon, Columbia Sportswear, Ralph Lauren, Li Ning, L Brands, H&M, Zara, Uniqlo, Forever21, Gap, Next, Esprit, and C&A. Nike and Adidas dominate the sports apparel design segment leveraging their innovative product designs and strong brand image globally.
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