Apparel - Nigeria

  • Nigeria
  • The revenue in the Apparel market in Nigeria is projected to reach €8.47bn in 2024.
  • This market is expected to grow annually by 7.31% (CAGR 2024-2029).
  • Among the segments within the market, the largest one is Women's Apparel, which is estimated to have a market volume of €3.29bn in 2024.
  • In comparison to other countries globally, in the United States generates the highest revenue in the Apparel market, with €329bn in 2024.
  • When considering the population size, the per person revenue in Nigeria is projected to be €36.96 in 2024.
  • Looking ahead, the volume in the Apparel market is expected to reach 2.2bn pieces by 2029.
  • Additionally, the market is forecasted to experience a volume growth of 2.5% in 2025.
  • On average, each person in Nigeria is expected to contribute 8.5pieces in volume to the Apparel market in 2024.
  • Furthermore, non-luxury goods will account for 100% of the sales in the Apparel market by 2024.
  • The Nigerian apparel market is experiencing a surge in demand for traditional clothing styles, reflecting a renewed interest in cultural heritage and identity.

Key regions: United States, Philippines, India, Europe, Germany

 
Marché
 
Région
 
Comparaison de régions
 
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Analyst Opinion

While Greater China almost overtakes the U.S. as largest fashion market in the world, key economic indicators create a more cautious mood for the global fashion industry potentially slowing down by 2020. For companies it is crucial to prepare plans to address a possible transformation of global value chains emerging by new opportunities from global consumer spending shifting towards emerging economies as well as trade tensions and uncertainties. A leverage point could be to take a strong position on social and environmental issues, as this is very much demanded by the younger generation.

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.

Vue d’ensemble

  • Revenue
  • Volume
  • Price
  • Sales Channels
  • Product Types
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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