Men's Apparel - Equatorial Guinea

Equatorial Guinea

Equatorial Guinea's revenue in the Men's Apparel market for 2024 is estimated to be US$120.30m.
It is projected that the market will experience an annual growth rate of 4.79% (CAGR 2024-2029).
When compared globally, in the United States leads in revenue generation with US$114bn in 2024.
Taking into account the country's population, per person revenues in Equatorial Guinea are expected to reach US$68.54 in 2024.
Looking ahead, the volume in the Men's Apparel market is predicted to reach 4,351.0k pieces by 2029.
Specifically, a volume growth of 0.5% is expected in 2025.
Furthermore, the average volume per person in the Men's Apparel market is projected to be 2.4pieces in 2024.
Despite Equatorial Guinea's small market size, there is a growing demand for high-end men's apparel driven by the country's affluent population and their inclination towards luxury brands.

Key regions: Indonesia, Europe, Singapore, India, Malaysia

Definition:

The Men’s Apparel market covers all types of clothes for men. Clothes for children (boys and girls up to age 14) and babies are separately defined in the Children’s Apparel market.

Structure:

The market is further divided into the following categories:

The Coats & Jackets market encompasses outdoor jackets, coats, and rain jackets for men.
The Blazers market encompasses indoor jackets, sport coats, and separately sold blazers that are not part of a suit for men.
The Suits market encompasses jackets and suit trousers made of the same material for men.
The Trousers market encompasses cloth trousers, jeans, and shorts for men.
The Shirts market encompasses all sorts of shirts for men as well as casual shirts.
The Jerseys, Sweatshirts & Pullovers market encompasses knitwear, sweatshirts, jerseys, sweaters, turtleneck sweaters, and under-sweaters for men.
The Sports & Swimwear market covers the following categories: Sports-Inspired Apparel, Performance Apparel, and Swimwear for men.
The Night & Underwear market encompasses underpants (briefs and boxers), bathrobes, and nightwear for men.
The T-shirts market encompasses men’s clothes for the upper body that are worn beneath the outerwear.
The Socks market encompasses hosiery for men that covers the foot and, at times, the leg up to the knee.
The Clothing Accessories & Other Clothes market covers the following categories: Gloves, Shawls & Scarves, Belts, Hats & Caps, Ties & Bow Ties, Leather Clothes, and Felt, Fur & Other Clothes for men.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit, sustainable apparel share, and sales channels. Online channel distribution refers to the purchase of physical goods in online retail. In other words, the purchase is concluded via the internet – on a desktop PC, tablet, or smartphone. The offline distribution channel covers all purchases in stationary stores made via telesales or mail orders (e.g., print catalogs).

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Analyst Opinion

Men’s Apparel is the second-largest segment in the Apparel market. It is projected to see the largest increase in revenues of all segments between 2022 and 2027. When it comes to choosing their apparel, consumers are increasingly becoming conscious of purchasing criteria such as quality, comfort, and durability. This closer attention to purchasing has particularly been seen since the beginning of the COVID-19 pandemic. Furthermore, male fashion influencers are becoming increasingly popular, which is likely to continue influencing consumer purchases.

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.