PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1534389
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1534389
India Fashion Retail Market, By Product Type; By Price; By Distribution Channel; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
India Fashion Retail Market Size More Than Doubles at Attractive CAGR of 12.65% to Surpass Whopping 125.3 Billion by 2030
India Fashion Retail Market is zooming due to the rising disposable incomes, increasing influence of global fashion trends and western culture, and growing young population.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Fashion Retail Market size by value at USD 58.16 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Fashion Retail Market size to expand at a CAGR of 12.65% reaching a value of USD 125.31 billion by 2030. The Fashion Retail Market in India is propelled by the increasing disposable incomes, rapid urbanization, and burgeoning middle class. In recent years, Indian apparel retail has witnessed a significant uptick, despite the challenges posed by the pandemic in 2020. The sector experienced a robust recovery from late 2021 onwards, buoyed by increasing consumer confidence as vaccination drives accelerated and economic activities resumed. Notably, a surge in "revenge buying" contributed to substantial sales spikes, particularly in apparel and fashion accessories. Also, strategic acquisitions by major retail players like Reliance Retail Ventures and Aditya Birla Fashion have underscored consolidation efforts within the industry, aiming to strengthen market positions and expand portfolios. The resurgence of brick-and-mortar stores alongside the continued expansion of e-commerce further highlight the dynamic nature of India's fashion retail landscape, expected for continued growth and innovations over the forecast period.
Opportunity - Booming e-commerce sector in India
The surge of e-commerce in India has significantly invigorated the India Fashion Retail Market. The convenience of online shopping, driven by widespread smartphone usage and high-speed internet, has revolutionized how consumers purchase fashion products. Major platforms like Myntra, Ajio, and Meesho have facilitated this transformation, making fashion more accessible across the country. E-commerce has enabled small and medium enterprises to extend their reach beyond local boundaries, offering their products to a national audience. This shift not only simplifies shopping for consumers but also helps brands penetrate deeper into the market. However, challenges, such as counterfeit products and the logistics of handling returns persist. Despite these hurdles, the e-commerce sector's rapid growth suggests a bright future for the India Fashion Retail Market.
Impact of Escalating Geopolitical Tensions on India Fashion Retail Market
Intensifying geopolitical tensions can have a multifaceted impact on the India Fashion Retail Market. These tensions can disrupt international trade and supply chains, affecting the availability of imported materials and finish goods. This disruption often leads to increased costs and delays in production and distribution, thereby influencing retail prices and consumer affordability. Moreover, geopolitical uncertainties may reduce consumer confidence and discretionary spending on fashion items. Fluctuations in exchange rates and changes in trade policies influenced by these tensions further complicate business operations for retailers, particularly those dependent on imports or global partnerships. Navigating these challenges effectively is crucial for maintaining stability and sustaining growth in the vibrant India Fashion Retail Market over the forecast period.
India Fashion Retail Market
Segmental Coverage
India Fashion Retail Market - By Price
Based on price, the India Fashion Retail Market is divided into Premium/Luxury, Mid-Range, and Mass Market segments. The mid-range segment holds the highest share in the India Fashion Retail Market by price. It is primarily driven by its appeal to a broad consumer base seeking both affordability and quality. It caters effectively to India's diverse demographic, blending style with accessibility. As disposable incomes rise and consumer preferences evolve, mid-range brands capitalize on this momentum, expanding their presence across urban and rural markets alike. This segment's success underscores its pivotal role in shaping India's fashion retail landscape, offering a compelling blend of fashion-forward designs and competitive pricing strategies to meet growing consumer demands. Also, the mass market segment is expected to witness the fastest growth rate during the forecast period. Following the success of brands like Zudio, national retailers such as Yousta (Reliance Retail), Style-Up (ABFRL), and InTune (Shoppers Stop) are increasingly targeting budget-conscious consumers. It is driven by factors like rising disposable incomes, urbanization, and a growing millennial and Gen Z demographic. The shift towards organized players from regional retailers underscores a strategic move towards capturing market share through enhanced customer experience and expanding retail footprints.
India Fashion Retail Market - By Region
Geographically, the India Fashion Retail Market is divided into North India, South India, East India, and West India regions. The North India holds the highest share in the India Fashion Retail Market and is expected to maintain its dominance throughout the forecast period. Cities like Delhi/NCR are major contributors to the regional market growth, boasting a high concentration of employed youth, affluent households, and a strong inclination towards fashion trends driven by Bollywood influences. The region's urban markets contribute significantly, representing 60% of fashion apparel consumption, fueled by a preference for fast fashion and premium brands. Moreover, North India serves as a launchpad for international brands entering the Indian market, capitalizing on the region's fashion-conscious population and willingness to spend on latest trends. This dominance is expected to persist, underpinned by robust economic activities and evolving consumer preferences towards branded and trendy apparel.
Competitive Landscape
The India Fashion Retail Market is fragmented, with numerous players serving the market. The key players dominating the India Fashion Retail Market include Aditya Birla Fashion and Retail Limited, Max Fashion, Shoppers Stop Limited, The Raymond Group, Gucci, PUMA, Biba, Provogue (India) Limited, Nike, Zara, H&M, and Fabindia. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Fashion Retail Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Fashion Retail Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Fashion Retail Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising disposable incomes
- 3.2.1.2. Increasing influence of global fashion trends and western culture
- 3.2.1.3. Growing young population
- 3.2.2. Restraints
- 3.2.2.1. Fluctuating raw material costs
- 3.2.2.2. Lack of exclusivity in fashion designs
- 3.2.2.3. Complex regulatory and tax structures
- 3.2.3. Opportunities
- 3.2.3.1. Growth of e-commerce in India
- 3.2.3.2. Leveraging technologies such as AI, big data, and augmented reality
- 3.2.3.3. Rapid urbanization in India
- 3.2.4. Challenges
- 3.2.4.1. Increasing prevalence of counterfeit products
- 3.2.4.2. Building and maintaining consumer loyalty
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Fashion Retail Market: Pricing Analysis
5. India Fashion Retail Market: Marketing Strategies
6. India Fashion Retail Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Apparel
- 6.2.1.2. Footwear
- 6.2.1.3. Bags & Accessories
- 6.2.1.4. Others
- 6.2.2. By Price
- 6.2.2.1. Premium/Luxury
- 6.2.2.2. Mid-Range
- 6.2.2.3. Mass Market
- 6.2.3. By Distribution Channel
- 6.2.3.1. Online
- 6.2.3.2. Offline
- 6.2.4. By Region
- 6.2.4.1. North India
- 6.2.4.2. South India
- 6.2.4.3. East India
- 6.2.4.4. West India
- 6.2.1. By Product Type
7. North India Fashion Retail Market
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Price
- 7.2.3. By Distribution Channel
8. South India Fashion Retail Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Price
- 8.2.3. By Distribution Channel
9. East India Fashion Retail Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Price
- 9.2.3. By Distribution Channel
10. West India Fashion Retail Market
- 10.1. Market Size & Forecast, 2019-2030
- 10.1.1. By Value (USD Billion)
- 10.2. Market Share & Forecast
- 10.2.1. By Product Type
- 10.2.2. By Price
- 10.2.3. By Distribution Channel
11. India Fashion Retail Market: Import & Export
12. Competitive Landscape
- 12.1. List of Key Players and Their Offerings
- 12.2. India Fashion Retail Company Market Share Analysis, 2023
- 12.3. Competitive Benchmarking, By Operation Channel Parameters
- 12.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
13. Impact of Escalating Geopolitical Tensions on India Fashion Retail Market
14. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 14.1. Aditya Birla Fashion and Retail Limited
- 14.2. Max Fashion
- 14.3. Shoppers Stop Limited
- 14.4. The Raymond Group
- 14.5. Gucci
- 14.6. PUMA
- 14.7. Biba
- 14.8. Provogue (India) Limited
- 14.9. Nike
- 14.10. Zara
- 14.11. H&M
- 14.12. Fabindia
- 14.13. Other Prominent Players
15. Key Strategic Recommendations
16. Research Methodology
- 16.1. Qualitative Research
- 16.1.1. Primary & Secondary Research
- 16.2. Quantitative Research
- 16.3. Market Breakdown & Data Triangulation
- 16.3.1. Secondary Research
- 16.3.2. Primary Research
- 16.4. Breakdown of Primary Research Respondents, By Region
- 16.5. Assumption & Limitation
*Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 India Fashion Retail Market Segmentation
- Figure 2 India Fashion Retail Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Figure 5 India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 6 India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Figure 7 India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Figure 8 India Fashion Retail Market Share, By Region, By Value (USD Billion) 2019-2030
- Figure 9 North India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Figure 10 North India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 11 North India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Figure 12 North India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Figure 13 South India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Figure 14 South India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 15 South India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Figure 16 South India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Figure 17 East India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Figure 18 East India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 19 East India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Figure 20 East India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Figure 21 West India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Figure 22 West India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Figure 23 West India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Figure 24 West India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
List of Tables
- Table 1 India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Table 2 India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 3 India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Table 4 India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Table 5 India Fashion Retail Market Share, By Region, By Value (USD Billion) 2019-2030
- Table 6 North India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Table 7 North India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 8 North India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Table 9 North India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Table 10 South India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Table 11 South India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 12 South India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Table 13 South India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Table 14 East India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Table 15 East India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 16 East India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Table 17 East India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Table 18 West India Fashion Retail Market Size, By Value (USD Billion), 2019-2030
- Table 19 West India Fashion Retail Market Share, By Product Type, By Value (USD Billion) 2019-2030
- Table 20 West India Fashion Retail Market Share, By Price, By Value (USD Billion) 2019-2030
- Table 21 West India Fashion Retail Market Share, By Distribution Channel, By Value (USD Billion) 2019-2030
- Table 22 Aditya Birla Fashion and Retail Limited Company Overview
- Table 23 Aditya Birla Fashion and Retail Limited Financial Overview
- Table 24 Max Fashion Company Overview
- Table 25 Max Fashion Financial Overview
- Table 26 Shoppers Stop Limited Company Overview
- Table 27 Shoppers Stop Limited Financial Overview
- Table 28 The Raymond Group Company Overview
- Table 29 The Raymond Group Financial Overview
- Table 30 Gucci Company Overview
- Table 31 Gucci Financial Overview
- Table 32 PUMA Company Overview
- Table 33 PUMA Financial Overview
- Table 34 Biba Company Overview
- Table 35 Biba Financial Overview
- Table 36 Provogue (India) Limited Company Overview
- Table 37 Provogue (India) Limited Financial Overview
- Table 38 Nike Company Overview
- Table 39 Nike Financial Overview
- Table 40 Zara Company Overview
- Table 41 Zara Financial Overview
- Table 42 H&M Company Overview
- Table 43 H&M Financial Overview
- Table 44 Fabindia Company Overview
- Table 45 Fabindia Financial Overview
