Market Insights Consumer Apparel Children's Apparel

Suits & Ensembles - Montenegro

Montenegro

In 2024, the revenue generated in the Suits & Ensembles market in Montenegro reached US$0.50m.
It is projected that this market will experience an annual growth rate of 2.29% (CAGR 2024-2029).
When compared globally, the highest revenue is expected to be generated in China, amounting to US$624m in 2024.
Taking into account the total population figures, the per person revenue in Montenegro's Suits & Ensembles market is estimated to be US$0.80 in 2024.
Looking ahead, by 2029, the volume in the Suits & Ensembles market is anticipated to reach 19.8k pieces.
However, there is a projected volume decline of -2.1% in 2025.
On average, each person in Montenegro is expected to contribute 0.0pieces to the volume of the Suits & Ensembles market in 2024.
Montenegro's market for suits and ensembles is booming, with a growing demand for high-quality, tailor-made garments.

Key regions: Philippines, Singapore, Australia, India, Indonesia

Market

Region

Region comparison

Currency

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.