Mexico Apparel Market Report And Forecast 2024-2032

Mexico Apparel Market Outlook

The Mexico apparel market size reached around USD 29.57 billion in 2023. The market is projected to grow at a CAGR of 4.90% between 2024 and 2032, reaching almost USD 45.48 billion by 2032.

Key Takeaways

• Sportswear is expected to constitute a major portion of the Mexico apparel market share.

• An increase in cotton production is expected to favour the market growth.

• Increasing innovation aimed at sustainable production of garments is one of the key market trends.

The  demand for second-hand clothing witnessed a steady increase in Mexico owing to rising consumer awareness about sustainability. For instance, online second-hand apparel retailer Go Trendier recorded a daily sale of 8640 products in 2023, indicating the rising popularity of such clothing among Mexicans due to factors such as increased accessibility and affordability.  Women aged 24-45 years are major end-users of second-hand garments like jewellery, sunglasses, dresses, and blouses. The increasing demand for such clothing from women is further expected to accelerate the Mexico apparel market expansion in the coming years.

Increasing innovations in the market are driving the production of jeans, tracksuits, and other pieces of clothing from sustainable materials. For example, in March 2021, H & M entered into a partnership with Desserto to utilise its vegetable leather material for manufacturing garments for its Science Story Collection. This vegetable leather is obtained from cactus and is a high-quality, non-toxic, and cruelty-free alternative for manufacturing leather-based apparel. Hence, the growing focus on sustainability is one of the key Mexico apparel market trends.

A large number of Mexican consumers prefer online distribution channels for purchasing apparel due to their convenience and rapid home deliveries. As shopping brands work towards diversifying payment options for consumers and building trust with the older generations, the Mexico apparel market growth is expected to receive a significant boost from the expansion of online channels for distribution.

Market Segmentation

Mexico Apparel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Formal Wear

• Casual Wear

• Sportswear

• Nightwear

• Others

Market Breakup by End User

• Men

• Women

• Children

Market Breakup by Distribution Channel

• Online

• Offline

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

Key Mexico apparel market players are engaged in adopting sustainable manufacturing practices to minimise waste and reduce their carbon footprint.

The key market players are Dolce & Gabbana S.r.l., PVH Corp.,   INDITEX, S.A., Ralph Lauren Corporation, Under Armour, Inc., Nike, Inc., Adidas AG, Reebok International Limited, H & M Hennes & Mauritz AB, PUMA SE, Fila Holdings Corp., Columbia Sportswear Company, and Decathlon USA LLC, among others.

Key Highlights of the Report