Market Insights Consumer Apparel Men's Apparel

Suits - India

India

The Suits market in India is projected to generate a revenue of US$0.90bn in 2024.
It is estimated that the market will experience an annual growth rate of 2.74% (CAGR 2024-2029).
When compared globally, in China leads in terms of revenue generation, with US$3,064m expected in 2024.
In relation to the total population, per person revenues in the Suits market are anticipated to reach US$0.63 in 2024.
Looking ahead, the volume of the Suits market in India is forecasted to reach 22.6m pieces by 2029.
It is expected to demonstrate a volume growth of 4.5% in 2025.
On average, each person in India is expected to contribute to a volume of 0.0pieces in the Suits market in 2024.
India's growing middle class is driving demand for high-quality, custom-tailored suits, leading to a rise in bespoke suit shops in major cities.

Key regions: Germany, Malaysia, Philippines, India, Indonesia

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Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.