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Islamic clothing market size set to reach $118.20 bn by 2031

Islamic Clothing Market size is poised to grow from USD 80 billion in 2023 to USD 118.20 billion by 2031, Sky Quest Technology said in a report released Tuesday Nov 19, 2024

Wednesday November 20, 2024 5:44 PM, ummid.com News Network

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Islamic Clothing Market size is poised to grow from USD 80 billion in 2023 to USD 118.20 billion by 2031, Sky Quest Technology said in a report released Tuesday Nov 19, 2024.

The report titled "Global Islamic Clothing Market" said, Islamic Clothing Market size, valued at USD 76.19 billion in 2022, is growing at a CAGR of 5% during the forecast period of 2024-2031.

The global Islamic Clothing Market in the recent years has witnessed a dynamic shift, influenced by changing consumer preferences, technological advancements, and a growing emphasis on sustainability.

"Islamic Clothing Market Research"

The research report on Islamic Clothing Market presents a complete judgment of the market through strategic insights on future trends, growth factors, supplier landscape, demand landscape, Y-o-Y growth rate, CAGR, pricing analysis.

The research on Islamic clothing market size focuses Industry Forecast for the period 2024-2031 on market share and growth analysis by product - Ethnic Wear, Sustainable Fashion, Sportswear, by type - Abayas and Hijabs, Prayer Outfits, Burkha and Naqaab, Thobes and Jubbas), by end users - Islamic men and Islamic women) and by region.

"Islamic population spending on lifestyle and apparels are the major factors for the growth of the islamic clothing market in the forecast period. Rising consumer investments in online retail distribution are also expected to bolster the growth of islamic cloth market within the forecasted period", the report said.

The report further said that rising popularity of Islamic clothing in the sports industry and international games is projected to boost product consumption and increasing demand for islamic clothing.

"Top players are investing geographically in various regions which will increase the growth of the market. Involvement of multi-national fashion brands is projected to grow the market size in the forecast period", the report said.

Islamic Clothing Market Analysis by Product

Ethnic wear is the dominant segment in Islamic clothing with around 70.8% market share in terms of revenue, in 2021.

"Demand for burqa and hijab are increasing in the group of ethics wear market. Burqa and hijab dominated the ethnic wear market in terms of revenue", the report said adding, "Significant growth in the market is due to the increasing availability of products through various brands."

According to the research report, sustainable fashion is the second-largest product segment in terms of revenue. "Islamic sustainable fashion segment is increased by the modest dressing habits of Muslim women and men which is a highly untapped market", the SkyQuest report said.

Islamic Clothing Market Analysis by End User

The major demand for islamic clothing is dominated by Islamic Women due to modest dressing habits, such as dressing covered hair, flowing lines, and a riot of color.

"The major companies are focusing on innovative clothing designs by blending modern fashion trends with maintaining ethnicity. There is increased demand for Islamic clothing by women", the report said.

"Moreover, men too like to wear Islamic clothing at every special events", the report said.

Islamic Clothing Market Regional Insights

Middle East and Africa dominated the market of Islamic clothing with 41.2% of market share in terms of revenue, in 2021.

High Islamic population with rising adoption of innovative modest clothing in Islamic countries, such as the United Arab Emirates (UAE) and Egypt is a key driving factor for dominating the regional demand for islamic clothing, the report said.

"North America is the fastest growing region during forecast period for Islamic clothing due to the adoption of modern Islamic clothes with ethics. Rapid growth of the young Muslim population in the region with rising ethnic fashion trends is projected to increase market growth", the report said.

The Sky Quest report also provides business matrices including Porters Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps' Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.

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