The global market for the sequins apparel market is estimated to be worth USD 12,412.4 million in 2021 and is anticipated to reach a value of USD 22,865.9 million by 2031. Sales are projected to rise at a CAGR of 6.3% over the forecast period between 2021 and 2031. The revenue generated by the sequins apparel market in 2020 was USD 11,787.6 million. The industry is anticipated to exhibit a Y-o-Y growth of 5.3% in 2021.
Global Sequins Apparel Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 11,787.6 million |
| Estimated Size, 2021 (E) | USD 12,412.4 million |
| Projected Size, 2031 (F) | USD 22,865.9 million |
| Value-based CAGR (2021 to 2031) | 6.3% |
The target market is segmented under end-use, application, and distribution channels. The market is further sub-categorized under these segments to provide a granular aspect which will benefit the businesses operating in the market to improve on their products, gain a competitive edge over other players, and grasp a major portion of the market, in parallel.
The sequins apparel market is also growing robustly enabling the glamour and visibility in fashion as well as the entertainment industry. Sequins which are typically used for formal wear are now used for casual wear. The market is growing further considering trends in customization where consumers are looking forward to making more out of fashion.
Advancements in the fabric used and sustainable sequins manufacturing are additional trends fueling this category’s growth. Sequins apparel is usually incorporated into seasonal collections and red-carpet occasions, thus it targets consumers seeking fashionable, dramatic clothing that would make a statement in any event.
The competitive landscape of the sequins apparel market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include Jovani, ROSA NOVIAS, Calvin Klein, and Adrianna Papell, among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 10,453.5 million and is predicted to rise approximately 1.8 times the current market value through 2031.
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The sequins cloths market is set to witness a steady rise at a CAGR of ~6% during the forecast period. Millennials are more attracted to these sequins dresses because of the luxury lifestyle influences them to adopt such dresses.
Furthermore, the increasing trend of fashion along with the evolving landscape of retail brands are the prominent factors for the development of the market.
The sequins clothing market is expected to be a success because of the increasing fans of famous artists from TV shows, movies, modelling and animations.
The demand for such clothes are more when customers during wedding seasons, group photography, modelling events, and music concert which is driving the demand for the product.
In addition, sequins clothes are available in different varieties like shirts, hoodies, and blazers for men; in women, sequins are available in tops, skirts, gowns, sarees, bras, jeans and many other wears. For kids, sequins designs are attached in t-shirt and frocks which attract the customers to choose according to their style.
The growing fashion and entertainment industry like modelling and animation is one of the major reasons for driving the growth of the sequins clothing market across the globe.
Principal Consultant
The availability of sequins cloths on online channels is a boom for the players as it is easy for customers to purchase sequins cloths from their desktop and handheld devices. This growth is mainly attributed to the web. A boosted exposure to the e-commerce and internet has improved the consciousness of fashion.
Along with this, the increasing popularity and uses of social media platforms like WhatsApp, Instagram, Snapchat and Facebook allow users to follow their favorite celebrities, model, actors and others is another factor for increasing the demand of the sequins clothes market.
Furthermore, the rising trend of the theme party in the marriage, Christmas party, birthday celebration, Halloween party and other events increase the demand for sequins cloths in the market.
The USA and Canada share the maximum market share of sequins cloths during the forecast period. Many prominent players of Canada are introducing high-end wear, also, invest in the research sector for introducing verities of clothing with sequins.
Furthermore, fashion is the largest and the most common application segment in the USA, owing to the continuously changing trend of fashion, the growing online companies and the availability of products, it is easy for the US and Canadian people to adopt the new trend. And the popularity of sequins costumes is high among the young generation, which primarily attributes the regional growth.
Therefore, it is a good opportunity for the players to keep updating their customs according to trends and strengthen their presence in the USA and Canada markets.
In addition, the growing customer concern towards sustainable materials forcing the key players to restructure their business and manufacturing cloths using natural raw materials like cotton, wool, silk etc. and avoid the use of chemical and toxic dyes which is expected to help the company for growing exponentially in the regional market.
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European countries like France, Germany, UK, Netherland, Spain, and Italy have produced high-end luxury sequins cloths. And the Southern and Eastern European countries like Poland, Romania and Hungary have produced medium-priced products. But these are not enough to fulfil the customer’s needs.
In the growing fast fashion era, with the help of robotics and new technology capital, intensive production will increase and saves a lot of time.
And these advancements will full-fill the demands of customers of Europe and all over the world. Therefore, refocus on new techniques for the production of fashion and sequins clothes will remain key to steady demand in the long run.
However, many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. Except for the healthcare and medical supplies industries, most of the companies have been impacted and sequins clothing companies have also been affected by this virus.
Some of the leading manufacturers and suppliers of sequins cloths include
Many leading manufacturers and suppliers are focusing on a rising trend of mergers, acquisitions, partnerships and expansions. Many key players are trying to grow their sales by expanding their business portfolio by collaborating with e-commerce supply channels like Flipkart, e-bay, amazon and others.
The fragmentation in the market of countries like India, China is due to the availability of medium and small manufactures. Moreover, with the government support and easily available of low wages labor established the various players business in the above countries is supposed to give a positive increment to the market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Sequins Apparel Market
