Myanmar Fashion and Apparels Market - Forecast(2022 - 2027)

Report Code: CPR 0146 Report Format: PDF + Excel

Myanmar Fashion and Apparels Market Overview

Myanmar Fashion and Apparels market size is estimated at $6.2 billion in 2020, growing at a CAGR of 22% during the forecast period 2020-2026. Clothing or garments in general are referred to as apparel. Apparel manufacturers cut, sew and produce garments by knitting fabric first, then cutting and stitching it into a garment. Apparel manufacturers are involved in manufacturing of clothing and fashion accessories for men, women and kids. There are various types of apparel such as formal wear, casual wear, sportswear, night wears and many others. Apparels are made from wide range of different material such as cotton, linen and leather are sourced from plants and animals. Material like leather is made from animal skin and cotton and linen are made from plants. Increasing demand for sportswear and performance wear coupled with rising fashion trends are the major factors driving the growth of the market. Shift in preference to branded products coupled with changing lifestyle of the people is set to further enhance the overall market development of the Myanmar Fashion and Apparels Market for the period 2020-2026.

Myanmar Fashion and Apparels Market Report Coverage

The report: “Myanmar Fashion and Apparels Market Forecast (2020-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Myanmar Fashion and Apparels Market.
By Type: Formal Wear, Casual Wear, Sports Wear, Night Wear and Others
By Fiber Type: Man-Made Fiber, Plant Based Fiber, and Animal Based Fiber
By End-User: Men, Women, and Kids
By Distribution Channel: Supermarket/Hypermarket, Department Stores, Specialty Store, Online Retailers and Others.

Key Takeaways

  • Myanmar Fashion and Apparels Market is increasing in 2020 owing to increasing fashion trend in this region. The Myanmar Fashion and Apparels Market scope for different regions will be provided in the final report.
  • Rising inclination towards online sales are set to aid the market growth of the Myanmar Fashion and Apparels Market report.
  • Scarcity of raw material and labor is poised to create the hurdles for the Myanmar Fashion and Apparels Market. 
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Myanmar Fashion and Apparels Market report.
Myanmar Fashion and Apparels Market Revenue, Type, 2020

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Myanmar Fashion and Apparels Market Segment Analysis – By Type

Formal Wear held the largest share in the Myanmar Fashion and Apparels Market in 2020 and is estimated to grow at a CAGR 18.2% during the forecast period 2020-2026. Formal wear is the traditional western dress code which is suitable for formal social events. Formal wear mostly made of chiffon, velvet, satin and other types of fabric. It is most comfortable and relaxed apparel as well as it is most preferred by consumers thereby formal wear are estimated to register the higher CAGR over the period 2020-2026.

Myanmar Fashion and Apparels Market Segment Analysis – By Fiber Type

Plant based fiber held the largest share in the Myanmar Fashion and Apparels Market in 2020 and is estimated to grow at a CAGR 16.8% during the forecast period 2020-2026. Plant based fiber such as cotton, jute and other fiber are tough and durable. Cotton fiber is breathable and wicks which transmits away from the body, as well as it is absorbent and removes liquid away from the skin. Plant based fibers are cheap, strong, and easy to clean compared to other fiber type thereby plant based fiber are estimated to register the higher CAGR over the period 2020-2026.

Myanmar Fashion and Apparels Market Segment Analysis – By Distribution Channel

Supermarkets/Hypermarkets held the largest share in the Myanmar Fashion and Apparels market in 2020 as supermarkets/hypermarkets offer better brand visibility, easy shopping experience and the availability of a wide range of apparels and brands. Also Supermarkets/Hypermarkets are focused on to provide better services to its consumers. However Online Retailers is suspected to growth at a higher CAGR of 26% during the forecast period 2020-2026 owing to the convenience and attractive offer it provides.

Myanmar Fashion and Apparels Market Drivers

Increasing Penetration of Social Media

Increasing penetration of social media and marketing strategies adopted by key players is increasing the growth of the Myanmar Fashion and Apparels Market. Furthermore, consumers learn about the current trends and other aspects of fashion from social media channels, which connect influencers and fashion idols to people through their social feeds. These individuals then make purchases through social media thereby increasing the growth of the Myanmar Fashion and Apparels Market during the forecast period 2020-2026.

Rising Inclination Towards Online Sales

Increasing inclination towards online sales and adoption of strategies by e-commerce platforms such as celebrity endorsements, promotional discounts and festive sales is increasing the growth of the Myanmar Fashion and Apparels Market. The number of online transactions and the average amount of money spent online are steadily increasing as the number of online users grows. Owing to the ease, convenience, and time-saving benefits of online retail, people are eager to purchase things on the spot thereby increasing the growth of the Myanmar Fashion and Apparels Market during the forecast period 2020-2026.

Myanmar Fashion and Apparels Market Challenges

Scarcity of raw Material 

Major factor that is set to impede the growth of the Myanmar Fashion and Apparels Market are scarcity of raw material and labor that affects on manufacturing of apparels. Another factor which hamper the growth of market is fast changing preferences and shifting choices of consumers. 

Myanmar Fashion and Apparels Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Myanmar Fashion and Apparels Market. In 2020, the Myanmar Fashion and Apparels Market share is consolidated by the top ten players present in the market. The Myanmar Fashion and Apparels Market, top 10 companies are Inditex, Adidas, Punto Fa, S.L., Nike Inc., PVH Corp., Hennes & Mauritz AB, Bossini International Holdings Ltd.,  Hang Ten, Decathlon and Kering S.A.

Developments

  • In August 2020, Inditex, the leading multinational company in the garment industry signed agreement with IndustryALL to support the global garment industry to recover from the crisis created by the pandemic. 

Relevant Titles:

Report Code: ESR 0140

Report Code: CMR 0074

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1. Myanmar Fashion and Apparels Market - Overview
    1.1 Definitions and Scope
2. Myanmar Fashion and Apparels Market - Executive Summary
    2.1 Market Revenue and Key Trends 
    2.2 Key trends by Type
    2.3 Key trends by Fiber Type
    2.4 Key trends by End-User
    2.5 Key trends by Distribution Channel
3. Myanmar Fashion and Apparels Market – Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis 
    3.5 Pricing Analysis- Average Selling Pricing
4. Myanmar Fashion and Apparels Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Myanmar Fashion and Apparels Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Myanmar Fashion and Apparels Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Myanmar Fashion and Apparels Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Myanmar Fashion and Apparels Market – By Type(Market Size –$Million/$Billion)
    8.1 Formal Wear
    8.2 Casual Wear
    8.3 Sports Wear
    8.4 Night Wear
    8.5 Others
9. Myanmar Fashion and Apparels Market - By Fiber Type(Market Size –$Million/$Billion)
    9.1 Man-Made Fiber
    9.2 Plant Based Fiber
    9.3 Animal Based Fiber
10. Myanmar Fashion and Apparels Market - By End-User(Market Size –$Million/$Billion)
    10.1 Men
    10.2 Women
    10.3 Kids
11. Myanmar Fashion and Apparels Market - By Distribution Channel(Market Size –$Million/$Billion)
    11.1 Supermarket/Hypermarket
    11.2 Department Stores
    11.3 Specialty Store
    11.4 Online Retailers
    11.5 Others
12. Myanmar Fashion and Apparels Market - Entropy
13. Myanmar Fashion and Apparels Market Company Analysis
    13.1 Company 1
    13.2 Company 2
    13.3 Company 3
    13.4 Company 4 
    13.5 Company 5
    13.6 Company 6
    13.7 Company 7
    13.8 Company 8
    13.9 Company 9
    13.10 Company 10
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