The Chinese market has seen rapid growth in the last two decades, with the apparel industry as one of China’s main pillars. The menswear industry in China, which accounts for US$104 307 million, is one of the fastest-growing. China has a population of close to 1.4 billion people.
China’s rapidly increasing wages have led to an increase in consumption and a rise in purchasing power. China’s digitalization and the development of new technology-related industries have contributed significantly to menswear demand. Men’s fashion has changed, with more emphasis on their appearance. It’s not easy to enter the Chinese market. You will need to be able to recognize all the subtleties and make your mark.
China’s Apparel Industry
China has been the largest exporter and manufacturer of apparel for more than a decade. China’s textile exports have soared since the 2000s, thanks to the World Trade Organization agreement on lifting textile quotas. China was responsible for more than half the global textile and clothing production in 2018 and 30% of all world apparel exports. The growth of China’s apparel sector has slowed down in recent years as the Chinese government wants technology-related industries to be prioritized to speed up China’s digitalization.
China’s apparel market grew to 237 billion U.S. Dollars in 2015 and now stands at 324.9 billion U.S. This industry is projected to reach 600 billion U.S. Dollars by 2025 in China.
This statistic shows that China’s apparel market saw an annual growth rate of 17.3% in 2019. Children’s wear saw 14.3% growth. The menswear sector saw an increase of 3.9%.
China’s apparel industry was affected by the Covid-19 pandemic.
The Covid-19 pandemic has had a significant impact on the apparel industry in China. Chinese shoppers were less inclined to shop because they spent more time at home, and some of them had a lower salary.
A survey on the COVID-19 effect on apparel purchases in China found that the main reason respondents were buying less apparel was because of the lockdown. Consumers also spend less on clothes because of lower incomes.
Menswear in China: A lucrative and growing industry for foreign fashion brands
Chinese men have more buying power than ever before and are more willing to spend on clothes. The menswear market is estimated to grow by 8.47% annually (CAGR 2021-2025).
Menswear’s apparel category includes all types of clothes for men, including jackets, blazers and suits, coats, shirts, pullovers and shirts, as well as sports-, underwear, and blazers. Online shopping has seen a rise in popularity due to foreign chain stores such as Zara, H&M, and GAP. These stores are becoming more popular among Chinese consumers. This also means that prices have risen. International fashion brands that were primarily focused on ready-to-wear for women have begun to target men. These include luxury brands like Burberry and accessible brands like Zara.
This Statista statistic shows that China’s annual growth rate in menswear sales has changed over time. The sales of menswear increased 3.9% in China in 2019 compared to 2018. The menswear market in China has been growing steadily over the years. In 2019, the sales value reached 594.9 billion Yuan. It is important to note that China’s society is more open-minded. This explains why Chinese men are more willing to try cosmetics and more focused on fashion.
The New Generation of Chinese Men
Chinese men are now more conscious of their appearances and purchasing power, thanks to the influence of celebrities on social media and KOLs on the internet. Although women are still the largest fashion consumers, men are growing the market faster than any other gender. This is true for all fashion categories, even luxury. Vogue magazine reports that high-end menswear sales have grown faster than womenswear over three consecutive years. Stella McCartney, Isabel Marant and other brands that were initially focused on women are now making collections for men.