Market Situation And Competition Pattern Analysis Of China'S Close Fitting Garment Industry In 2020

Industry growth is good.

Close fitting clothing is a wide range of underwear. It refers to clothing that clings to the skin or under the outer clothing, including bra, underwear, thermal clothing, household clothes, sportswear, swimsuit, socks, etc. According to the data of China Apparel Association, the scale of Chinese underwear production increased from 167 billion 520 million yuan in 2012 to 408 billion 40 million yuan in 2018, maintaining a good growth trend.

Fierce competition in women's underwear market

The clothing industry can be further subdivided into women's underwear market, men's underwear market, children's underwear market and sports bra market.

Among them, the women's underwear market occupies a leading position in the clothing industry. From the perspective of the development of women's underwear market, Chinese women's underwear brand enterprises started later than Europe, America and Japan. Brand concentration is lower than that of foreign markets, and competition is more intense. The main categories of women's underwear include bra and underwear. According to EU data, from 2012 to 2018, the retail compound growth rate of China's women's underwear market reached 8.1%, and the market size in 2022 is expected to continue to grow to 197 billion 300 million yuan.

The main categories of men's underwear include men's underwear, thermal clothing and household clothing. According to the China Apparel Association's data, the size of China's men's underwear market in 2019 was about 171 billion 300 million yuan, thanks to the steady growth of downstream consumer demand.

There are many participants in the apparel industry, whose modes are mainly divided into brand enterprise competition and non brand enterprise competition. Women's underwear market, men's underwear market and children's underwear market, the concentration of brand enterprises is low, and the market competition pattern is dispersed. For the sports bra market, because the market share of Chinese sportswear brand is highly concentrated, the market position of the top five sports brands is relatively stable, which poses a great challenge to the expansion of the personal clothing brand to the sports bra.

In China's close fitting garment industry, besides Germany's Ttiumph and Ai Mo, the largest market share companies are listed companies or subsidiaries of listed companies. Judging from the performance in 2019, the gross profit margin of well-known clothing enterprises in China has dropped slightly.

In addition, the gross profit margin of urban beauty is significantly lower than that of Hui Jie and an Li Fang, mainly because on the one hand, the beauty of urban beauty is aimed at the low-end market, while the core brand of Hui Jie and an Li Fang aims at the high-end market, so the overall pricing level of urban beauty products is lower than that of the core products of Hui Jie and an Li Fang. On the other hand, the sales channels of urban beauty are mainly distributed, and they often need to share certain profits with distributors.

According to EU data, in 2018, the concentration of the top five brands in China's underwear market was only 6.6%, while the market concentration of the top five markets in Japan, the United States and the United Kingdom was 56%, 47% and 22% respectively. By contrast, the market concentration of the top five brands in China's underwear market is much lower than that in Japan, the United States and the United Kingdom, so the Chinese underwear market still has the potential to concentrate its market share on leading brands.