- Qatar’s apparel market is witnessing increased optimism due to a rise in demand, with women’s clothing seeing a 5 percent higher growth compared to men’s apparel.
- The rebound from the pandemic and positive impacts from global events, such as the World Cup, have contributed to the market’s current growth.
- Qatar’s apparel market revenue is projected to hit $2.42 billion in 2024, with men’s clothing leading at $1.3 billion and a forecasted 2.7 percent growth in apparel volume by 2025.
- On a global scale, the apparel market is expected to reach $1.79 trillion by 2028, with a notable shift towards non-luxury apparel, reflecting both local and international growth trends.
As Qatar’s economy shows signs of revitalization, vendors across the country express growing optimism for the market. This positive sentiment is driven by a surge in demand, which is expected to continue shaping the apparel sector’s trajectory through 2024 and beyond.
Increased Demand and Market Outlook
Business owners and analysts are witnessing a promising start to 2024. Abdullah, an apparel store owner at Souq Waqif, notes a significant increase in business this year compared to previous years. Both men’s and women’s clothing have seen a rise in demand, with women’s apparel experiencing a modest increase of 5 percent more than men’s.
Ahmed Ali, another shop owner, highlights the need to maintain this upward trend. He points out that the market has rebounded from the pandemic’s impact.
The years 2022 and 2023 benefited from global events such as the World Cup, leading to a favorable business phase. Despite a fluctuating market in recent times, Ali remains hopeful that the positive momentum will continue into the future.
Impact of Tourism on the Apparel Market
Jonathan Roger, a retail expert, attributes the current market growth to a notable rise in tourism. He explains that the influx of tourists to Qatar has driven demand for unique apparel. The increasing number of visitors each month contributes significantly to the country’s growing economy, enhancing the appeal of Qatar’s fashion sector.
Market Segments and Financial Projections
The apparel market in Qatar is experiencing a boost in demand for both prime and luxury brands, a trend driven by the country’s high disposable income and affluent consumer base. Statista’s report indicates that Qatar’s apparel market revenue is projected to reach $2.42 billion in 2024.
The report further breaks down the market, revealing that men’s clothing and accessories dominate with a market volume of $1.3 billion this year. In contrast, per capita revenue for apparel in Qatar is anticipated to be approximately $882.80.
Additionally, the average number of apparel items per person is expected to be 57.7 pieces in 2024. By the end of the year, 87 percent of apparel sales will come from non-luxury items.
Market experts predict a 2.7 percent growth in apparel volume by 2025. Over the next four years, the clothing market is expected to grow at a compound annual growth rate (CAGR) of 3.6 percent, with the volume of retail business estimated to reach 175 million pieces.
Global Apparel Market Trends
Globally, the apparel market is set to reach an impressive revenue of $1.79 trillion, driven by a CAGR of 2.81 percent between 2024 and 2028. While men’s apparel leads in Qatar, women’s apparel is the largest segment worldwide, with a market volume projected at $0.94 trillion.
The United States is expected to generate the highest revenue in the global apparel market, with projections of $359 billion in 2024. On a per capita basis, global revenue is estimated at $230.90 per individual. The total volume of apparel is anticipated to reach 196.1 billion pieces, with a 1.3 percent growth in market volume projected for the coming year.
Non-Luxury Apparel and Market Dynamics
A significant portion of the global market, about 95 percent, will be driven by non-luxury apparel sales in 2024. In China, there is an increasing demand for luxury brands as consumers seek high-quality products.
Overall, the apparel sector shows promising growth prospects, both locally in Qatar and on a global scale. The market’s expansion reflects a robust consumer appetite and economic resilience, positioning the apparel industry as a key player in Qatar’s and the global economy’s recovery and growth.
