Global Tailoring And Alteration Services Market Top Major Players 2024, Forecast To 2033
7 Nov, 2024
The tailoring and alteration services market size has experienced steady growth in recent years, with projections indicating an increase from $8.96 billion in 2023 to $9.40 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.9%. This growth is primarily attributed to rising demand for customized fashion, a growing preference for well-fitted clothing, increased needs for formal and professional attire, the influence of current fashion trends, and a commitment to sustainability and extending garment life. The market is expected to reach $11.42 billion in 2028, growing at a CAGR of 5.0%. This anticipated growth can be linked to heightened awareness about the benefits of personalized tailoring, rising disposable incomes, the emergence of online and digital tailoring platforms, and the increasing influence of fashion influencers globally. Major trends expected in the forecast period include advancements in technology, the rise of online tailoring platforms, the use of 3D scanning, smart tailoring solutions, and virtual fitting rooms.
Global Tailoring And Alteration Services Market Key Driver
The expanding fashion industry is anticipated to boost the tailoring and alteration services market. This sector encompasses the design and sale of clothing and accessories, fueled by increased consumer spending, online shopping, and a focus on personalized fashion. Tailoring services provide customized adjustments for optimal fit and satisfaction. In November 2023, the UK Fashion and Textile Association reported that the UK fashion industry contributed $81 billion to GDP in 2023 and supported 1.3 million jobs, underlining the market's significance.
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The tailoring and alteration services market covered in this report is segmented –
1) By Service: New Creations, Alterations, Garment Repair
2) By Consumer Orientation: Male, Female
3) By Clothes Type: Business Wear, Casual Wear, Other Clothes Types
4) By End-User: Individual Consumers, Businesses, Other End-Users
By Geography:The regions covered in the tailoring and alteration services market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the tailoring and alteration services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Tailoring And Alteration Services Industry Players
Saks Fifth Avenue, Neiman Marcus, Tailored Brands Inc., Etsy Inc., Ermenegildo Zegna, Suitsupply BV, Stitch-It Canada’s Tailor Inc., T.M.Lewin, The Savile Row Company, LookSmart Alterations, Ganni A/S, Alteration Express, Cad & The Dandy, Huntsman & Sons, Sojo, London Tailors, The Perfect Fit, Hemster Inc., The Fitting Room, Alterations Boutique, Manhattan Tailors, Harrods Limited, Argys Tailoring
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Tailoring And Alteration Services Market Overview
Tailoring and alteration services involve customizing or modifying clothing to achieve a perfect fit and updated style through adjustments, repairs, and refinements. It provides customized fitting and modification of clothing to ensure garments suit individual preferences and body shapes, enhancing both comfort and style. These services also allow for the rejuvenation of older garments, extending their lifespan and maintaining their style.
Tailoring And Alteration Services Global Market Report 2023 provides data on the global tailoring and alteration services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The tailoring and alteration services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.