Market Insights Consumer Apparel Women's Apparel

Suits & Ensembles - Montenegro

Montenegro

The revenue generated in the Suits & Ensembles market in 2024 amounts to US$280.80k.
It is projected that this market will experience an annual growth rate of -6.72% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, the highest revenue is generated in India, reaching US$1,776m in 2024.
In terms of per person figures, the revenue generated in the Suits & Ensembles market amounts to US$0.45 per person in Montenegro in 2024.
Looking ahead, the volume of the Suits & Ensembles market is expected to reach 6.4k pieces units by 2029.
However, a slight decline in volume growth is anticipated in 2025 with a rate of -9.1%.
On an individual basis, the average volume per person in the Suits & Ensembles market is expected to be 0.0pieces units in Montenegro in 2024.
Montenegro's demand for tailored suits is rising as the country's economy grows, reflecting a shift towards more formal attire in the business sector.

Key regions: Australia, Malaysia, Singapore, United States, China

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.