Streetwear is a style of fashion that has been gaining popularity in recent years and has become a mainstream trend in the fashion industry.
The global streetwear market will be around USD 173399.5 million in 2021 and is expected to grow steadily. According to a recent market research report, the global streetwear market is projected to expand at a CAGR of 1.82% during the forecast period from 2021 to 2027. By the end of 2027, the market is expected to reach a total value of USD 193217.4 million.
The growth of the streetwear market can be attributed to several factors. One of the key drivers is the increasing popularity of streetwear fashion among young consumers. Streetwear has become a go-to style for many young people and is expected to continue in the coming years.
Also, the rise of social media platforms such as Instagram and TikTok has significantly influenced the market’s growth. These platforms have made it easier for streetwear brands to connect with consumers and helped raise awareness of streetwear as a style. The rise of e-commerce has also significantly impacted the growth of the streetwear market.
With the increasing usage of the internet and the availability of online marketplaces, consumers now have access to a broader range of streetwear products than ever before. This has made it easier for consumers to purchase streetwear clothing and accessories online, contributing to the market’s growth.
Another aspect contributing to the growth of the streetwear market is the influence of celebrities and influencers. Many celebrities and influencers have adopted streetwear as a personal style, helping to make it mainstream. They have a significant impact on the growth of the streetwear market.
These public figures’ influence on people’s fashion choices is undeniable.
To sum up, the global streetwear market is expected to continue increasing in the coming years, with the market size projected to reach USD 193217.4 million by 2027. The increasing popularity of streetwear fashion among young consumers, the rise of social media, the growth of e-commerce, and the influence of celebrities and influencers are critical drivers of this growth. As streetwear continues to evolve and gain mainstream acceptance, it is worth paying attention to in the fashion industry.