Whereas, North America is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Asia-Pacific is the domination region across the world in terms of market share owing to opening up of the e-commerce platform gave local brand an opportunity to compete globally. The regional analysis of global Ethnic Wear market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Also, innovation is always welcomed in the ethnic market which is likely to increase the market growth during the forecast period. However, the market is highly competitive and it is difficult to sustain in the market which impedes the growth of the market over the forecast period of 2021-2027. According to Fashion Revolution, the consumption of ethnic wear in India has increased in year 2018 it was 287k and in year 2021 it is around 802k.
These occasions often drive the growth of ethnic market. And during such occasion, consumers tend to buy ethnic clothing either fusion cloths or traditional cloths for personal use and also for gifting.
Due to religious and cultural diversity around the world a wide range of occasions are celebrated.
Increasing fashion awareness, rapid urbanization, and changing lifestyles are the factors driving the growth of the ethnic wear market among women, men, children. Demand for ethnic wear is increasing because of globalization, movement of culture & tradition in conjunction with individuals visiting and staying in different countries. Ethnic Wear is a fashionable clothing which is similar to dressing of a particular country or group.
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