Market Status And Market Size Forecast Of China'S Clothing Industry In 2021

Clothing is the general name of clothes, shoes, decorations, etc. In the national standard, the definition of clothing is: sewing, wear in the human body to protect and decorate the product, also known as clothing. With the advent of knowledge economy and the popularization and application of network, the introduction of international information has greatly affected China's clothing market. The trend of world clothing is developing towards the direction of "freedom" and "diversification".

Steady growth of market scale

As China's dominant industry with international influence, the clothing industry has formed a series of mature clothing production industry chain from yarn production, surface accessories processing to ready-made clothing production. With the overall development of China's economy and the improvement of urbanization level, the quantity and quality of people's material demand have been improved at the same time. With the continuous upgrading of aesthetic requirements, clothing has become the symbol of people's personal style, and the clothing retail industry has become the biggest driving force driving the development of China's textile and clothing industry. According to the data, the retail scale of China's clothing market will reach 2.19 trillion yuan in 2019, with a year-on-year growth of 5.29%. China's clothing market has a large scale, and has been growing in recent years. The China Business Industry Research Institute predicts that China's clothing market will reach 2.4 trillion yuan in 2021.

Data source: Euromonitor and China Business Industry Research Institute

After the epidemic, the clothing industry gradually recovered

The data shows that in 2020, the clothing output of garment enterprises above Designated Size will be 22.37 billion, with a year-on-year decrease of 7.7%; the operating revenue will reach 1369.73 billion yuan, with a year-on-year decrease of 11.3%; the total profit will be 64.04 billion yuan, with a year-on-year decrease of 21.3%; the profit margin of operating income will be 4.7%, with a year-on-year decrease of 0.6%. In 2020, the total retail sales of clothing goods of units above the designated size will reach 882.4 billion yuan, a year-on-year decrease of 8.1%; online retail sales of wearing goods will increase by 5.8%; and the export of clothing and accessories will reach US $13.78 billion, a year-on-year decrease of 6.4%.

Data source: compiled by Statistics Bureau and China Business Industry Research Institute