India Men'S Wear Industry Is Developing Rapidly And Market Demand Is Booming.
According to a new report entitled "prosperity of India men's clothing market", India men's wear industry is developing rapidly. It is expected to achieve a compound annual growth rate (CAGR) of 14.9% in 2008-2010 years.
With the change of dressing concept of young people in rural areas, the rural market in India will become the key factor to achieve this expectation.
According to the report, rural areas in India have been entirely dependent on manual sewing. This has led to huge demand for garments and is expected to reach an average annual growth rate of 16.5% in 2010.
Therefore, the major clothing companies are targeting the rural areas and competing for the best quality products.
However, due to the significant economic differences between rural and urban consumers, as well as the differences between culture and consumption habits, the expansion of garment industry in rural areas of India will not be smooth sailing.
The report points out that the factors that stimulate the development of India men's wear market also include the rapid expansion of the brand clothing market.
Brand clothing sales are expected to grow by a compound annual growth rate of 24% in 2010.
The report points out that the establishment of exclusive discount stores has played a significant role in the market penetration of brand clothing.
In addition, the diversification of products, the introduction of new trends and the establishment of fashion awareness are also the reasons why branded clothing can be popular in India's big cities and outlying areas.
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