US Fashion Lead Challenged: China and India Closing the Gap by 2029

Changes in the world map of fashion consumption. While the United States will remain the largest market for the sector until 2029, China and India are closing the gap as consumer spending accelerates, according to the latest data from GlobalData,

Specifically, the American apparel market will reach $644 billion by 2029, thanks to average annual growth of 2.1% until then. On the other hand, China’s average growth over the next few years will be 2.8% and India’s 3.3%, bringing these two markets closer to the volume of the North American giant.

According to the same forecasts, reported by Just Style, Europe will continue to show moderate growth, with weak sales increases up to 2029 in the continent’s main markets: Germany, the United Kingdom, Italy and France. Some Eastern European countries, such as Romania and Bulgaria, will be among the countries where garment consumption will grow the most in the coming years.

Asia-Pacific will see average growth in apparel consumption of 2.6% by 2029

In the Americas as a whole, economic instability in Latin American countries will weigh on growth, as will the slower evolution of fashion consumption in the United States due to a drop in consumer confidence and tariff uncertainties caused by the economic crisis.In the Americas as a whole, economic instability in Latin American countries will weigh on growth, as will the slower evolution of fashion consumption in the United States due to the fall in consumer confidence and the tariff uncertainties caused by the measures imposed by US President Donald Trump over the past year. Chile will be an exception in the region: the country will lead global growth in fashion consumption, with an average annual increase in sales of 7.4% until 2029.

In the Asia-Pacific region, average growth in apparel consumption will be 2.6% through 2029, driven by the recovery of the growing middle class and rapid digitization. The Philippines and Malaysia will be two of the economies driving consumption growth in the region, while Japan will slow it down, with an average growth of only 0.6% per year over the same period.

In the case of China, its growth will be supported by an economic rebound after its property-driven slowdown. However, trade tensions between the Asian giant and the United States are expected to moderate market growth slightly.

GlobalData’s data also points out that the online channel in the United States will lag behind with growth of only 1.1% in 2025, following the closure of the de minimis regulations, which previously benefited imports of less than €800 from giants such as Shein or Temu. In the Asian region, the online apparel channel will grow by 0.7% this year, driven by the consumer’s return to physical stores.