Analysis of the current situation in regional markets

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Of the total fashion market size of US$673.6 billion, the Asian fashion market contributes US$325 billion, accounting for almost 50% of the global fashion market.

Growth trends in regional markets
Asia, with its large and growing population, is a market that is geared towards the younger generation, and increasingly middle-class consumers are looking to buy fashion products, especially in China and India, the two largest markets. These two markets have large populations and consumer bases with growing levels of disposable income.

In addition, Asia is also the production base for most products in the global clothing industry, and the rapid spread of a large number of cheap goods in the market has also influenced the development of the global fashion industry.

The European market, which had been hit hard, experienced a strong growth trend from a decline in 2022 to a recovery in 2023 and has once again become an important battleground for indonesia number data the fashion industry.

Online shopping platforms such as SHEIN and TEMU, headquartered in Asia, have seen significant growth in both the Chinese and global markets.

At the same time, the African market is also showing a high level of growth. Although the African market is relatively small compared to other global markets, it has achieved a spectacular growth rate of almost 11% from 2022 to 2023, ahead of the Americas and Asia. Only Europe and Australia have shown stronger growth trends over the same period.