Market Insights Consumer Apparel Men's Apparel

Shirts - Sri Lanka

Sri Lanka

The revenue in the Shirts market in Sri Lanka is projected to reach US$67.11m in the year 2024.
This market is expected to experience an annual growth rate of 0.50% (CAGR 2024-2029).
In terms of global comparison, in the United States generates the highest revenue in the Shirts market, amounting to US$16,440m in 2024.
When considering the population figures, the per person revenue in Sri Lanka's Shirts market is estimated to be US$3.06 in 2024.
By the year 2029, the volume in the Shirts market is projected to reach 3.2m pieces.
However, in 2025, a slight decline of -1.6% in volume growth is expected.
On average, each person in Sri Lanka's Shirts market is anticipated to have a volume of 0.2pieces in 2024.
The shirt market in Sri Lanka is experiencing a surge in demand for traditional batik shirts, reflecting the country's rich cultural heritage.

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

Market

Region

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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.