April 22, 2024
Merchandise Designing Market

Merchandise Designing Market is Estimated to Witness High Growth Owing to Growing Sports Culture

The merchandise designing market comprises of sports apparel, casual apparel, and accessories designing for various brands and retailers. Merchandise designing helps develop unique and innovative designs that attract consumers while representing the brand value of customers. Sports apparel designing is gaining high traction due to the growing popularity of various sports and fitness activities among people worldwide. Sports apparel provides enhanced comfort, quick-drying capability, UV protection, and breathability features desired by sportspersons and fitness enthusiasts. Rising health awareness is propelling the demand for quality sports and athleisure wear.

The Global merchandise designing market is estimated to be valued at US$ 107.13 Mn  in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Merchandise Designing Market Growth are Nike, Adidas, Puma, Under Armour, New Balance, ASICS, VF Corporation, Lululemon, Columbia Sportswear, Ralph Lauren, Li Ning, L Brands, H&M, Zara, Uniqlo, Forever21, Gap, Next, Esprit, and C&A. Many top brands prefer outsourcing merchandise designing functions to specialist design firms to benefit from their expertise and ideas. However, some companies also undertake in-house designing.

The merchandise designing market offers significant opportunities such as designing for new categories like wearable technology, utilizing 3D printing and virtual/augmented reality for design development and prototyping. There is a scope for unique and customized designing leading to better consumer connect.

The global expansion of leading brands into newer geographies through online and offline channels will increase the demand for localized designs and customizations. Emerging markets like Asia-Pacific and Latin America are expected to drive future growth in the merchandise designing market owing to rising living standards and fashion consciousness.

Market drivers

The growing sports culture and rising health awareness are the major drivers for the merchandise designing market. People are increasingly participating in various sports and fitness activities which is propelling the demand for specialized sports apparel and footwear. Features like breathability, quick-drying, enhanced comfort are important considerations while designing sports merchandise. Furthermore, rising disposable income levels in developing economies are allowing customers to spend more on premium branded apparel and accessories.

PEST Analysis
Political: The merchandise designing market is subjected to government regulations regarding manufacturing standards and environmental laws. Brands must ensure their products adhere to safety and sustainability guidelines.
Economic: The global economy plays a big role in the performance of this industry. Economic recession or slowdown may negatively impact consumer spending on apparel and accessories.
Social: Changing fashion trends and consumer preferences towards comfortable yet stylish athletic and casual wear influence the merchandise designs presented by brands. Sustainable and socially responsible production practices also impact purchase decisions.
Technological: Advancements in materials science and manufacturing technologies allow designers to experiment with performance fabrics and production techniques. Increased digitization aids virtual product prototyping and 3D design simulation.

Geographical concentration of market value
North America accounts for the largest share of the global merchandise designing market value, led by the United States. This can be attributed to high consumer spending power and demand for latest athletic and lifestyle fashion in the region. Europe is the second largest regional market with major demand from countries like Germany, UK, France and Italy.

Fastest growing region
Asia Pacific region is projected to be the fastest growing market for merchandise designing during the forecast period. This can be linked to rapidly expanding middle class population, increased health awareness, and growing fashion consciousness in populous nations such as China and India. Rising disposable incomes are expected to boost sales of international sportswear brands in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it