by The merchandise designing process enables companies to create products that appeal to target customers while incorporating branding elements. Merchandise designers conceptualize designs for apparel, accessories, and other items that strengthen a brand’s image and drive sales. They consider factors such as current trends, customer preferences, and brand guidelines to come up with fresh, creative products.
The global merchandise designing market is estimated to be valued at US$ 107.13 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends propelling the merchandise designing market is the increasing focus on eco-friendly designs. With growing awareness about environmental protection, there is significant demand for sustainable products made from organic, recycled, or ethically sourced materials. Merchandise designers are coming up with innovative ideas to integrate green elements into their designs. For example, they are exploring the use of fabrics produced from recycled plastics, organic cotton, and natural dyes that cause lesser pollution. Some brands also focus on durable, long-lasting designs that can be reused or repaired to reduce waste. This emphasis on eco-friendly strategies is helping merchandise designers expand into the growing market for ethical fashion and lifestyle products.
SWOT Analysis
Strength: Merchandise designing has advanced creative and artistic skills. Expert designers offer innovative designs and trends.
Weakness: High setup and operational costs associated with merchandise designing. Competition from local and small designers offering low cost services.
Opportunity: Growing sports and fashion industry worldwide creates huge demand for new designs. E-commerce platforms open global markets for merchandise designers.
Threats: Copying of popular designs easily. Vulnerable to fluctuations in economic conditions affecting consumer spending.
Key Takeaways
The global merchandise designing market is expected to witness high growth in the forecast period of 2024 to 2031. Global Merchandise Designing Market Demand is estimated to be valued at US$ 107.13 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Regional analysis: The Asia Pacific region dominates the global merchandise designing market currently. Countries like China, India and Japan have emerged as major sourcing hubs for sports and fashion brands. Fast adoption of latest trends and growing middle class population drives demand. North America and Europe also have significant shares and remain important markets.
Key players: Key players operating in the merchandise designing market 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. Major brands continuously add new designs and collaborate with popular designers to attract customers. Strategic acquisitions help players expand capabilities and geographical presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
