Market Insights - Industry Research Report

Streetwear Market

Streetwear Market Size, Share, Growth, And Trends Analysis, By Type (Sneakers, Clothing, Accessories) By Application (Online & Offline), and Regional Forecast From 2024 To 2032

The streetwear market refers to a segment of the fashion industry that emphasizes casual, urban clothing often influenced by skate, hip-hop, and youth culture. Characterized by bold graphics, logos, and unique designs, streetwear often blends high fashion with everyday wear. Key elements include limited edition releases, collaborations with artists and brands, and a strong online presence through social media and e-commerce. The market is known for its exclusivity and community-driven ethos, with a focus on self-expression and individuality

According to a recent market research study conducted by Beyond Market Insights, “The global streetwear market was valued at USD 206.69 billion in 2023 and is projected to reach USD 301.91 billion by 2032, with a compound annual growth rate (CAGR) of 4.3% from 2024 to 2032.” Key players in the market include HUF, Stussy, WTAPS, Vetements, Nike, CARHARTT WIP, Undefeated, Adidas, Palace, Off-White (Pyrex), NOAH, Supreme, Bape, and HERON PRESTON.

Streetwear, a casual clothing trend that rose to prominence in the 1990s, draws influences from hip-hop fashion in New York, surf culture in California, sportswear, punk, skateboarding, and Japanese street fashion. It typically features casual, comfortable pieces like jeans, T-shirts, baseball caps, and sneakers and often emphasizes exclusivity through limited-edition merchandise. Many streetwear brands bypass traditional retail channels, opting to sell directly on their websites and through single-product drops, which is a term in sneakerhead culture for a product release. Streetwear reflects the current cultural landscape and continues to evolve with shifting trends.

Market Dynamics

The streetwear market has shown resilience, rebounding from the negative impacts of the COVID-19 pandemic due to the easing of restrictions and a rise in online shopping. The expansion of e-commerce platforms has allowed streetwear brands to reach a broader audience, increasing their geographical consumer base. This shift enables manufacturers to sell their products on a much larger platform than before, driving growth in the apparel manufacturing sector. For example, in countries like India, e-commerce platforms have boosted sales of traditional clothing by providing greater exposure to makers who were previously limited to regional markets.

The market’s growth is also fueled by rising per capita income, favorable demographics, and a shift in consumer preference toward branded goods. The adoption of a luxury lifestyle has influenced millennials’ purchasing power, leading them to opt for premium streetwear. Although streetwear is a mature market, it continues to grow due to evolving design trends and a changing retail environment across brands.

Segmentation

By Type:

  1. Clothing
  2. Shoes
  3. Accessories
  4. Other Types

By Application

  1. Online channels
  2. Offline channels.

By Region

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East & Africa

Regional Analysis

The regional analysis highlights the current and future demand for streetwear in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also provides demand forecasts and estimates for specific application categories across all major regions.

Asia-Pacific is one of the most significant markets for streetwear, particularly in China and India. In China, the garment industry benefits from various government initiatives aimed at boosting the textile sector. The China National Textile and Apparel Council (CNTAC) has recently unveiled its 14th five-year plan, outlining development goals, growth strategies, and priorities for the textile and apparel industry over the next five years. China’s position as a leading exporter of clothing further enhances the sector’s revenue.

In India, the streetwear market is driven by the country’s growing population, increasing disposable income, and changing fashion preferences. India is also a major textile exporter, which supports the growth of the apparel sector. Several government programs, such as the Amended Technology Upgradation Fund Scheme and the Advance Authorization Schemes, aim to enhance and expand the country’s textile and apparel manufacturing capabilities. Additionally, the Government of India’s extension of the RoSCTL scheme—a rebate on state and central taxes and levies on garment and made-up exports—boosts the export competitiveness of the Indian apparel industry.

List of Top Streetwear Companies

  1. HUF
  2. Stussy
  3. WTAPS
  4. Vetements
  5. Nike
  6. CARHARTT WIP
  7. Undefeated
  8. Adidas
  9. Palace
  10. Off-White (Pyrex)
  11. NOAH
  12. Supreme
  13. Bape
  14. HERON PRESTON

These companies are leading players in the streetwear market, continually evolving their product offerings to cater to a diverse and dynamic consumer base. Their ability to blend contemporary cultural elements with innovative design has allowed them to maintain a strong presence in the global market. As the streetwear market continues to grow, these brands are expected to play a pivotal role in shaping its future landscape.

Frequently Asked Questions

The global streetwear market is expected to reach USD 301.91 billion by 2032.
The streetwear market is anticipated to grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2032.
The growth of the streetwear market is driven by a growing interest in fashion and the increasing popularity of online shopping.

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