Saudi Arabia Apparel and Footwear Market Size Set to Touch Whopping USD 282.3 Million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia apparel and footwear market size at USD 219.84 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Saudi Arabia apparel and footwear market size to grow at a CAGR of 4.25% reaching a value of USD 282.27 million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia apparel and footwear market size at USD 219.84 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Saudi Arabia apparel and footwear market size to grow at a CAGR of 4.25% reaching a value of USD 282.27 million by 2029. Increasing disposable income and a growing female workforce are two key drivers of growth for the Saudi Arabian clothing and footwear sector. The growing penetration of international fashion brands and the developing impact of online platforms are both expected to provide the Saudi Arabia apparel and footwear market substantial growth opportunities.
Saudi Arabia Apparel and Footwear Market – Overview
The term "apparel" refers to all clothes, including shoes and other footwear, in which any component is made of a textile created by weaving, knitting, or felting. Wearable clothing or non-wearable textile products are also possibilities. Shirts, pants, dresses, skirts, shoes, hats, scarves, jewelry, and many more products might fall under this category. Footwear is an accessory that is worn on the feet and typically acts as protection from environmental threats such as wear from different ground textures and temperature differences.
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Saudi Arabia Apparel and Footwear Market
Segmental Information
Saudi Arabia Apparel and Footwear Market – By End User
Based on end users, the Saudi Arabia apparel and footwear market is segmented into men, women, and kids. The women segment accounts for the largest market share owing to the wide variety of clothes of different styles and age groups available for this demographic and the ever-changing trends in women's clothing. Furthermore, the increasing women workforce in the Kingdom owing to increasing migration is directly influencing the purchasing power of the segment, which is influencing the Saudi Arabia apparel and footwear market growth.
Impact of COVID-19 on Saudi Arabia Apparel and Footwear Market
The Saudi Arabia apparel and footwear market were hampered during the COVID-19 outbreak in the country. Apparel and footwear were marked under non-essential items, due to which their sales were immediately halted with the imposition of lockdown. The restrictions on import and export activities of these items as well as the closure of specialty stores and sales restrictions on its online sales negatively impacted the market growth. Furthermore, the detrimental impact of the outbreak on consumers’ purchasing power due to the loss of jobs also resulted in huge market losses to the industry participants.
Competitive Landscape
Major players operating in the Saudi Arabia apparel and footwear market include Alhokair Group, Nayomi Fashion, Fahad Group, Redtag, Injaz, Riyadh Seasons, Namshi, Aziz Mall, and Centro. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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