Market Insights Consumer Apparel Men's Apparel

Shirts - Ghana

Ghana

In 2024, the revenue in the Shirts market in Ghana amounts to a substantial US$153.30m.
It is projected that this market will experience an annual growth rate of 3.31% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States generates the highest revenue in this segment, reaching a remarkable US$16,440m in 2024.
Taking into account the total population figures, each person in Ghana is expected to contribute US$4.41 in revenue in the Shirts market in 2024.
Looking ahead to 2029, the volume of the Shirts market is predicted to reach 3.6m pieces units.
This segment is anticipated to demonstrate a modest growth rate of 2.3% in 2025.
Furthermore, the average volume per person in the Shirts market is forecasted to be 0.1pieces in 2024.
"The demand for traditional Ghanaian print shirts, such as the popular Kente and Adinkra designs, is steadily increasing among both locals and tourists."

Key regions: Philippines, Singapore, India, China, United States

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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.