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Coming of Age - Working Indian Women Driving Apparel Market
Apr 04, 2008
According to “Booming Women Apparel Market in India”, a recent market research report released by RNCOS, women apparel market is expected to grow at a CAGR of 17.79% by 2010. According to the research, though men’s apparel market dominates the overall apparel industry, women apparel market is growing at a higher rate than men’s segment.
The report has found that Indian women apparel market is mainly unorganized and is dominated by unbranded garments. However, the report has forecasted the organized retail sector to grow at a CAGR of 30% during 2008 to 2010. Women apparel market is anticipated to account for 23% of the organized sector in 2010.
The booming organized apparel retail market in India is opening up new vistas for branded clothes for women. As branded apparel offers huge margins to the retailers, its share in the total market is likely to increase in near future.
According to a Senior Research Analyst at RNCOS, emergence of foreign brand outlets with an increasing number of working women is giving a new dimension to Indian women dressing style. This change has brought golden opportunity for premium apparel segment to attract foreign luxury brands in India and tap this hug market. And with women making about 48.4% of total Indian population, foreign brands can scale new heights in Indian women apparel market.
Another big untapped opportunity area in the Indian women apparel market lies in large-size apparel segment, identified the RNCOS research. With 28% of Indian women being obese, the large-sized apparel can register a significant growth in future. Moreover, as practically no big retailer is currently operating in this segment, the first entrants to the market will certainly reap the maximum profit.
The report has also evaluated the growth prospects of various segments of women apparel market, including formal, casual, lingerie and ethnic wear. Sarees dominate the women apparel market in both value as well as volume terms and this segment is anticipated to post a CAGR growth of over 14% by 2010 (in value terms).
“Booming Women Apparel Market in India” provides a detailed view on the drivers, opportunities and challenges for the Indian women apparel market and thoroughly evaluates the various aspects of the market to give an insight into the market.
For more information visit: http://www.rncos.com/Report/IM607.htm
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