The Merchandise Designing Market is estimated to be
valued at US$ 92.99 Bn in 2023 and is expected to exhibit a CAGR of 9.4% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Merchandise designing involves conceptualizing and creating designs for various
kinds of apparel, accessories, and other products. Leading brands incorporate
creative merchandise designs to appeal to target consumers and reinforce their
brand identity. Innovative design ideas are developed by keeping in mind latest
fashion trends, consumer preferences, and technological advancements.
Merchandise designers work closely with brand managers, manufacturers, and
customers to translate design concepts into salable products.
Market Dynamics:
The merchandise designing market is driven by the growing demand for
personalized and customized products among consumers. Easy availability of
diverse fabric materials and rapid manufacturing technologies allow merchandise
designers to experiment with different designs, styles, and concepts.
Furthermore, the burgeoning e-commerce industry has provided a global platform
for independent merchandise designers and startups to promote and sell their
creations directly to customers. Young consumers especially prefer unique
merchandise reflecting their personality, individuality and interests which is
fueling demand. However, intense competition and short shelf-life of some
trendy designs pose challenges for merchandise designers to consistently
deliver innovative products.
Segment
Analysis
The merchandise designing market is mainly
segmented into apparel designing, footwear designing, and accessories and other
products designing. Among these, the apparel designing segment dominated the
global market in 2022 and is estimated to maintain its dominance during the
forecast period. This is owing to the increasing disposable income of consumers
and changing fashion trends which are prompting consumers to invest more on
apparel with unique designs.
PEST Analysis
Political: The merchandise designing market is impacted by trade regulations
related to import and export of raw materials as well as finished goods.
Favorable government policies supporting the textile and apparel industries promote
market growth.
Economic: A stable economic environment with rising disposable income fuels
consumer spending on merchandize with premium and unique designs. High economic
growth in emerging markets boosts market expansion.
Social: Rapid urbanization, evolving lifestyle trends, and growing brand
consciousness among consumers boost demand for fashionable and novelty
merchandize designs.
Technological: Adoption of CAD/CAM designing software, 3D body scanning, and
virtual/augmented reality tools help designers develop innovative products
efficiently and meet evolving customer needs.
Key Takeaways
Global
Merchandise Designing Market Demand is expected to witness high growth,
exhibiting CAGR of 9.4% over the
forecast period, due to increasing consumer spending on premium fashion
products. The merchandise designing market size for 2023 is US$ 92.99 Bn.
Regional analysis: The Asia Pacific region dominates the global market and is
expected to maintain its leading position during the forecast period. This is
attributed to rapid growth of textile and apparel industries in developing
economies such as China and India.
Key players: Key players operating in the merchandise designing market are
Nike, Adidas, Puma, Under Armour, New Balance, ASICS, VF Corporation,
Lululemon, Columbia Sportswear, Ralph Lauren, Li Ning, L Brands, H&M, Zara,
Uniqlo, Forever21, Gap, Next, Esprit, and C&A. Major players are focusing
on introduction of new product lines with customized designs to strengthen
their market position.
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