The global islamic clothing market size is expected to reach USD 88.35 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.0% over the forecast period. Increasing expenditure by Islamic population on lifestyle and apparels, especially among the wealthy, elite, and traditional Middle Eastern population is expected to propel the product demand.
Major countries outside Western fashion industry contributing to a significant share include Malaysia, Turkey, and Indonesia, where the industry is highly lucrative. Controversies around losing the ethnic value of Muslim clothing due to its shift towards mainstream fashion industry is projected to hamper the growth.
Initiation of various marketing campaigns by industry players in line with maintaining the very core of the Muslim percepts, Sharia, or the Islamic law is projected to propel growth of the Islamic clothing market. In addition, increasing demand for modest yet fashionable clothing, especially from young generation with high purchasing power is likely to complement market growth.
Increasing reservations regarding over-commercialization of what is primarily meant to be a rigorous religious mandate can pose as a challenge to the market players. In addition, involvement of multinational fashion brands is projected to restrain growth of the small Islamic clothing companies.
Further key findings from the report suggest:
- In 2017, ethnic wear accounted for 70.9% market share, in terms of revenue, owing to rising demand for the abayas and hijabs and thobes and jubbas in countries with a high Islamic population
- Burkha and naqaab segment is expected to expand at a CAGR of 5.4% from 2017 to 2025 owing to increasing demand from Middle Eastern countries including Saudi Arabia, UAE, and Iraq
- Sustainable fashion is expected to register a CAGR of 4.9% over the forecast period on account of the shifting focus of the leading fashion brands towards the development of innovative clothing options for younger population
- Asia Pacific contributed to over 31.3% revenue share in 2017 owing to the presence of over 63% of global Muslim population in Indonesia, Pakistan, India, Bangladesh, Myanmar, and Morocco
- Key players operating in the Islamic clothing market are House of Fraser, Marks & Spenser, Aab, H&M, and Mango among others. Leading companies cater to the rising demand for diverse options from different parts of the world. Few manufacturers are large-scale producers with a diverse product portfolio, which enables them to cater to the increasing demand