{"id":23925,"date":"2023-08-21T14:34:05","date_gmt":"2023-08-21T14:34:05","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=23925"},"modified":"2023-08-21T14:34:40","modified_gmt":"2023-08-21T14:34:40","slug":"egypt-to-lead-fashion-market","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/08\/21\/egypt-to-lead-fashion-market\/","title":{"rendered":"Egypt to lead Africa\u2019s fashion market with $ 2.5 billion revenue"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\">Egypt, alongside Nigeria, is poised to dominate the African <a href=\"https:\/\/www.meretailnews.com\/2023\/02\/21\/middle-east-fashion-market-to-grow-exponentially-bof-report-reveals\/\">fashion landscape<\/a>, encompassing accessories, apparel and footwear, according to Statista.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><a href=\"https:\/\/www.fashionrevolution.org\/africa\/egypt\/\" target=\"_blank\" rel=\"noopener\">Egypt\u2019s fashion industry<\/a> is expected to reach $ 1.28 billion in 2023, continuing its upward trend. This market is anticipated to reach a market volume of $ 2.35 billion by 2027, showing a compound annual growth rate of 16.40 per cent between 2023 till 2027.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The country is expected to have a user base of 56.4 million in the fashion business by 2027. Its penetration rate, which stands at 33.3 per cent, is expected to soar to 47.1 per cent by 2027.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0A youthful demographic drives demand in the fashion industry since they are fundamentally more fashion-conscious and eager to willing to spend more on apparel and accessories.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">By the end of 2023, Egypt and Nigeria are expected to generate a whopping $ 2.5 billion in revenue.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The projected market volume is expected to grow at a compound annual growth rate of 10.03 per cent between 2023 and 2027, reaching an estimated peak of $ 1.92 billion by the end of the period.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt is set to lead the African fashion landscape, according to Statista<\/p>\n","protected":false},"author":40,"featured_media":18369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4484,1],"tags":[3973,4939],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23925"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=23925"}],"version-history":[{"count":2,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23925\/revisions"}],"predecessor-version":[{"id":23927,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/23925\/revisions\/23927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/18369"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=23925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=23925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=23925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}