Streetwear Market Size, Share & Industry Analysis, By Product (Clothing, Footwear, Accessories, and Others), By End User (Men and Women), By Distribution Channel (Offline Stores and Online Stores), and Regional Forecast, 2024-2032

The global streetwear market size was valued at USD 325.28 billion in 2023. The market is projected to be worth USD 347.14 billion in 2024 and reach USD 637.13 billion by 2032, exhibiting a CAGR of 7.89% during the forecast period.

Streetwear, originated from urban & street culture and is known for its vibrant palette, bold logo graphics, and unconventional designs. It is usually popular among youth, hip-hop enthusiasts, and skateboarders. It includes various products, including oversized tees, hoodies, streetwear jeans, beanies, snapbacks, and sneakers. It is typically inspired by hip-hop music, skate and surf culture, sports, rock music, haute fashion, k-pop, and superheroes. Beyond fashion, it's known for its individual expression, synonymous with youth, rebellion, and creativity.

The rising disposable incomes, growing consumer spending on fashion, and increasing economic growth of different countries will propel the global market growth.

The COVID-19 pandemic severely impacted product sales across countries, notably throughout 2020. The lockdowns across countries led to supply chain disruption, affecting product distribution. In addition, the closure of textile mills & production facilities and reduced capacity led to delays in product manufacturing worldwide.

Streetwear Market Trends

Growing Popularity of Gender Fluidity & Inclusivity to Boost Product Demand

Gender fluidity and inclusivity are gaining significant traction worldwide due to the cultural shift towards accepting lesbian, gay, bisexual, transgender, queer (LGBTQ), and gender neutrality. Moreover, consumers are seeking clothing that transcends traditional gender norms, allowing them to express their individuality authentically. Brands introduce new gender-neutral designs & brands, making casual clothing accessible to all genders. For instance,

• In September 2023, Lee, a Kansas, U.S.-based clothing company, in collaboration with ROARINGWILD, a China-based brand, launched its first unisex apparel collection, including baggy cargo jeans, oversized rider jacket, cropped rider jacket, and oversized sweatshirt & tees.


• In August 2023, London Underground, a U.K.-based unisex brand, launched its new 23FW unisex collection. According to the company, the new collection includes loose-fit short-sleeve shirts, textured knit cardigans, graphic ball caps, beanies, and bags.

Streetwear Market Growth Factors

Rising Popularity of Sustainable Products to Increase Global Streetwear Market Share

The popularity of sustainable products is rising significantly owing to the increasing awareness of environmental issues and environmental consciousness among consumers. Eco-conscious consumers usually prefer brands that demonstrate a commitment to environmental stewardship and social responsibility. Moreover, the increasing demand for eco-friendly products among environmentally conscious individuals boosts the demand for sustainable products. Furthermore, numerous international players are launching sustainable products to cater to the growing demand for environmentally friendly clothing. For instance,

• In March 2022, UNLESS, an Oregon, U.S.-based casual wear brand, launched its new SS22 Collection, including a biodegradable hoodie. According to the company, the hoodie is 100% plant-derived and completely biodegradable.

Increasing Collaborations and Growing Demand for Exclusive Products to Favor Market Expansion

The increasing number of collaborations with celebrities, fashion designers, and brands is boosting the demand for casual clothing. In addition, collaborations lead to limited editions and introduce new designs & concepts, thus increasing product demand. Several major players are leveraging collaborations to reach new audiences, tap into niche markets, and differentiate themselves in a competitive landscape. For instance, in September 2022, Levi’s, a California, U.S.-based clothing company, collaborated with Deepika Padukone, a Popular Indian Actress, to launch a new casual clothing collection.

In September 2022, Supervek, an India-based casual wear brand, collaborated with Mast-Jägermeister SE, a Germany-based liquor company, to launch a limited-edition collection of casual clothing and accessories, including sling bags, hats, and t-shirts.

In October 2021, Nana Judy, an Australia-based casual clothing company, collaborated with PepsiCo, a U.S.-based beverage company, to launch a new casual clothing collection. According to the company, the collection includes varsity jackets, traditional baseball jersey tops, basketball shorts, track shorts, and printed vintage T-shirts.

The increasing demand for limited edition drops, creating a sense of exclusivity and scarcity among consumers, which boosts the product demand. Limited edition products are gaining significant popularity among consumers, especially collectors and enthusiasts. Furthermore, numerous prominent market players are focusing on introducing exclusive products to boost their sales and expand their product portfolio. For instance, in March 2022, Casio America Inc., a U.S.-based electronics company, collaborated with ALIFE, a New York, U.S.-based casual clothing brand, to launch a new limited edition watch, GA110 ALIFE21-8A.

• In March 2020, Adidas, a Germany-based sportswear company, launched a new casual clothing-inspired app, Confirmed. According to the company, the app is focused on exclusive products and never-before-seen content.

RESTRAINING FACTORS

Increasing Availability of Counterfeit Products to Hamper Market Growth

The popularity of casual clothing has made it a significant target for counterfeiters, resulting in the widespread production and distribution of fake merchandise. Moreover, counterfeiting erodes consumer trust, diminishes the perceived value of authentic products, and undermines brand integrity. Furthermore, the growing demand and availability of counterfeit casual clothing hampers streetwear market growth. According to the European Union Agency for Law Enforcement Cooperation (EUROPOL), a government agency stated that between March and December of 2022, over 19,56,607 counterfeit clothes, streetwear shoes, and garments worth around USD 93.72 million (EUR 87 million), with 258 brands infringed, were seized.

The number of fashion and clothing retailers selling counterfeit products is increasing significantly. For instance, in March 2022, Stussy, a California, U.S.-based casual clothing brand, filed a lawsuit against Shein, a China-based fast fashion retailer, for selling counterfeit products. According to the company, Shein sold several counterfeit products bearing Stussy’s name and to hide its actions; the company avoided using “Stussy” in its listing.

Streetwear Market Segmentation Analysis

By Product Analysis

Increasing Celebrities’ Collaboration to Fuel Streetwear Outfits Demand

The global market is segmented into clothing, footwear, accessories, and others, based on product.

The clothing segment dominated the global market in 2023 owing to the wide availability and growing collaborations between brands and influential celebrities. Several prominent players are launching new products and collaborating with celebrities to cater to the increasing demand for clothing. For instance, in September 2022, Levi’s, a California, U.S.-based clothing company, in collaboration with Deepika Padukone, a popular Indian actress, launched a new casual clothing collection, including oversized T-shirts, baggy/ streetwear pants, oversized shirts, jackets, and shirts.

• In February 2022, H&M, a Sweden-based clothing company, launched a new casual wear collection, Blank Staples. According to the company, the collection features various products, including tees, sweatshirts, hoodies, and joggers.

The footwear segment will likely witness the fastest growth throughout the forecast period, owing to the growing popularity of sneakers and the increasing availability of collaborative designs. Moreover, the growing inclination of young consumers towards innovative features, including lightweight materials and advanced cushioning systems, propels product demand. Various international players are focusing on collaborating to launch new products. For instance, in November 2023, Adidas, a Germany-based sportswear company, collaborated with Fear of God, a U.S.-based casual clothing brand, to launch Fear of God Athletics sneakers.

The accessories segment is expected to grow significantly through the forecast period owing to the growing popularity of chunky designs and the rising availability of minimalistic jewelry designs. Several major players focus on partnerships and collaboration to launch exclusive products to diversify their portfolios and boost sales. For instance, in October 2023, King Ice, a California, U.S.-based jewelry brand, collaborated with Halo, a popular science fiction videogame, to launch an exclusive jewelry collection. According to the company, the collection features a Mark VI master chief full-figure necklace, stainless steel energy sword necklaces, and sterling silver energy sword earrings.

By End User Analysis

Growing Appearance Consciousness among Men to Propel Market Growth

The global market is segmented into men and women, based on end users.

The men's segment dominated the global market in 2023 owing to the wide availability of products, increasing purchasing power, and growing consciousness about appearances among men. Furthermore, several key players are focusing on expanding their reach due to the increasing product demand. For instance, in May 2023, boohooMAN, a U.K.-based men's casual clothing brand, entered India through Myntra, an India-based fashion e-commerce company.

The women's segment is expected to grow steadily over the forecast period owing to the growing popularity of street culture among women, urban aesthetics, and designs focusing on inclusivity and empowerment. Furthermore, numerous market participants are launching new products to diversify their portfolios. For instance, in December 2021, CLASS, a Brazil-based casual clothing brand, launched its first collection for women.

By Distribution Channel Analysis

Increasing Number of Retail Stores Globally to Fuel Market Growth for Offline Stores Segment

Based on the distribution channel, the market is segmented into offline stores and online stores.

The offline stores segment dominated the global market in 2023, owing to the rising number of counterfeit products across online stores worldwide. Moreover, several prominent players are launching new physical stores to expand their reach. For instance, in October 2023, Alpha Industries, a U.S.-based clothing and casual clothing company, launched its new 1,700-square-foot brick-and-mortar store in Soho, New York City.

• In August 2023, Supreme, a U.S.-based casual clothing brand, launched its new 2,273-square-foot store in Seoul, South Korea.

The online stores segment is expected to grow significantly through the forecast period owing to the increasing availability of a diverse and exclusive range of products. Furthermore, various industry participants are focusing on expanding their online presence to boost product sales. For instance, in October 2023, Tata CLiQ Luxury, an India-based luxury lifestyle platform, launched Capsul, an India-based multi-brand retailer, to expand its casual clothing portfolio.

• In July 2023, Fugazee, an India-based men’s brand, partnered with Myntra, an India-based fashion e-commerce company, to expand its reach in India.

REGIONAL INSIGHTS

The global market is categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Asia Pacific dominated the global streetwear market share in 2023 and is expected to dominate the global market through the forecast period owing to rapid urbanization and growing young population. Moreover, the increasing number of homegrown brands across the region offering products inspired by street culture and subcultures, such as hip-hop, street art, and skateboarding, that reflect their aesthetics and values boosts market growth. Furthermore, Asian pop culture, including K-pop, J-pop, and C-pop, significantly promotes fashion trends in the region. Several prominent players are focusing on expanding their reach in the region owing to the growing product demand. For instance, in November 2022, Supreme, a U.S.-based casual clothing brand, partnered with Dover Street Market, a China-based luxury multi-brand retailer, to debut in China at the WF Central shopping complex.

North America is expected to grow considerably throughout the forecast period owing to the presence of prominent players across the region. The region has a diverse street culture scene, including hip-hop, skateboarding, and graffiti, boosting the product demand. Moreover, the increasing availability of comfortable and functional clothing, including joggers, hoodies, and sneakers, propels the market growth. Furthermore, several industry participants are focusing on expanding their reach across the region. For instance, in October 2023, Avirex, a U.S.-based casual clothing brand, launched its new retail store at Mercer Street in New York City.

Europe is expected to grow steadily in the coming years due to the increasing consumer purchasing power and luxurious lifestyles. Moreover, retro and vintage-inspired fashion styles are gaining significant popularity among consumers seeking unique and nostalgic fashion. Furthermore, genderless fashion is gaining traction across Europe, with casual clothing brands offering unisex or gender-neutral collections that appeal to a diverse range of consumers. For instance, in January 2023, Filling Pieces, an Amsterdam, Netherlands-based brand, partnered with Zalando, a Germany-based online fashion and lifestyle platform, and launched a new size-inclusive and genderless collection, “You Are Invited”.

Product sales across the South American, Middle Eastern, and African markets will likely accelerate steadily in the forthcoming years. The rising urbanization and economic development in Saudi Arabia, the UAE, and South Africa will trigger regional market growth. Moreover, the increasing number of local brands, including BUCKETBOX, IVRY, SPLYR, Dhad, and 1886, are boosting the market growth across the region. Furthermore, several key players are launching new stores to expand their regional reach. For instance,

• In September 2023, New Balance, a U.S.-based footwear company, launched its first-ever retail concept in Yas Mall, Abu Dhabi.


• In December 2021, Les Benjamins, a Turkey-based casual clothing brand, launched its new 213-square-foot flagship store in the Mall of the Emirates, Dubai.

KEY INDUSTRY PLAYERS

Key Players Focus on Innovative Technologies to Stay Competitive

The streetwear market is highly fragmented, with numerous medium and large players operating across domestic and international markets. Major industry participants are launching various strategies to tackle growing counterfeit products. For instance, in July 2021, Gun Ainm Clothing, a U.K.-based luxury casual clothing brand, partnered with Eltronis, a U.K.-based specialty and security printing company, to launch security labels that allow consumers to authenticate their purchases. According to the company, the authenticity card contains a unique QR code & serial number with a permanently adhered holographic company logo label.

LIST OF TOP STREETWEAR COMPANIES:

• Nike (U.S)


• Supreme (U.S.)


• Stussy (U.S.)


• BAPE (Japan)


• Adidas (Germany)


• Off-White (Italy)


• Vetements (Switzerland)


• Palace (U.K.)


• RoaringWild (China)


• Undercover (Japan)

KEY INDUSTRY DEVELOPMENTS:

• October 2023: The Indian Garage Company, an India-based apparel & fashion company, entered the casual wear market with the launch of the new brand TIGC Street. According to the company, the new brand will offer various products, including graphic tees, trousers, and funky jeans.


• September 2023: Adidas, a Germany-based sportswear company, launched its new LFSTLR collection, including football jerseys, across Europe.


• June 2023: Kazuki Workshop, a made-to-order gender-neutral apparel brand, was launched by Kazuki Kozuru-Salifoska, a Japanese designer in New York, U.S.


• April 2023: D'Yavol, an India-based casual clothing brand, was launched in India by Shahrukh Khan, a popular Indian actor.


• March 2021: Adidas, a Germany-based sportswear company, collaborated with brand 424, a Los Angeles, U.S.-based brand, to launch a new range of casual clothing with Arsenal F.C., a famous football club.

REPORT COVERAGE

The market report includes in-depth analysis and highlights crucial aspects, such as prominent companies and product types. Besides this, it provides insights into the market trends and highlights significant industry developments. In addition to the aspects mentioned earlier, it encompasses several factors contributing to the market's growth.

Report Scope & Segmentation