Market Insights Consumer Apparel Women's Apparel

Clothing Accessories & Other Clothes - Sri Lanka

Sri Lanka

In 2024, the Clothing Accessories & Other Clothes market in Sri Lanka is projected to generate a revenue of US$79.44m.
This market segment is expected to grow annually by 3.58%, according to the compound annual growth rate (CAGR) for the period 2024-2029.
When compared globally, it is noteworthy that in China leads in terms of revenue generation, with an estimated revenue of US$18,690m in 2024.
Considering the population figures, the per person revenue in Sri Lanka's Clothing Accessories & Other Clothes market is expected to reach US$3.62 in 2024.
Moving forward to volume, the segment is projected to reach a volume of 18.1m pieces by 2029.
Additionally, there is an expected volume growth of 1.3% in 2025.
In terms of average volume per person, Sri Lanka's Clothing Accessories & Other Clothes market is anticipated to reach 0.8pieces in 2024.
Sri Lanka's clothing accessories market is flourishing, with a strong emphasis on traditional craftsmanship and vibrant, handwoven textiles.

Key regions: United States, Indonesia, Germany, Malaysia, Singapore

Market

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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.