MERCHANDISE DESIGNING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The Merchandise Designing Market size is expected to reach US$ 174.40 Billion by 2030, from US$ 92.99 Billion in 2023, at a CAGR of 9.4% during the forecast period. Merchandise designing involves creating graphics and artwork for branding and decoration purposes on products. It is used across apparel, accessories, footwear, and other consumer products. The growth is driven by rising demand for customized and personalized products.

The Merchandise Designing Market is segmented by product type, end user, distribution channel, and region. By product type, the market is segmented into apparel, footwear, accessories, and others. The apparel segment accounts for the largest share due to high demand for graphic t-shirts and fashion apparel.

Merchandise Designing Market Regional Insights

• North America is the largest market for merchandise designing, accounting for a share of over 30% of the global market in 2022. The growth of the market in this region is driven by the rising disposable income of consumers, the growing popularity of e-commerce, and the increasing demand for customized merchandise.
• Europe is the second largest market for merchandise designing, accounting for a share of over 25% of the global market in 2022. The growth of the market in this region is driven by the increasing popularity of fashion and lifestyle brands, the growing demand for sustainable merchandise, and the rising adoption of digital technologies.
• Asia Pacific is the third largest market for merchandise designing, accounting for a share of over 20% of the global market in 2022. The growth of the market in this region is driven by the growing middle class, the increasing popularity of online shopping, and the rising demand for personalized merchandise.

Figure 1. Global Merchandise Designing Market Share (%), by Region, 2023

Merchandise Designing Market Drivers

• Rising Adoption of Customization and Personalization: The demand for customized and personalized products is increasing across apparel, footwear, accessories, and other consumer segments. This is a key factor driving the growth of the merchandise designing market.
• Growth of E-Commerce: The rapid growth of e-commerce and online shopping is supporting the growth of the merchandise designing market. Online platforms allow easy customization and on-demand production.
• Marketing and Promotional Activities: Companies across industries are using merchandise products like t-shirts, caps, bags etc. for marketing and promotion activities. This is creating significant demand for merchandise designing services.
• Fashion consciousness and Brand Awareness: Growing fashion consciousness among consumers is leading to demand for trendy and branded merchandise products. This is fueling the market growth.

Merchandise Designing Market Opportunities

• Expansion into Developing Countries: Emerging economies like India, Brazil, Mexico etc. offer significant opportunities for merchandise designers due to improving economic conditions and retail infrastructure.
• Mergers and Acquisitions: Consolidation activities like mergers and acquisitions provide opportunities for large players to expand their customer base and optimize operations.
• Product Innovation: There is an opportunity for merchandise designers to innovate and develop sustainable and smart products using technologies like smart fabrics, recycled materials etc.
• Growth of Online Customization: Online customization platforms enable customers to design their own merchandise products. Investing in such technologies provides huge growth opportunities.

Merchandise Designing Market Trends

• Adoption of Digital Printing: Digital printing technologies are being widely adopted for merchandise designing due to benefits like shorter production times, flexibility, and cost efficiency.
• Sustainability: Sustainable designing practices using recycled and eco-friendly materials is an emerging trend in the market driven by changing consumer preferences.
• Usage of Bold Graphics and Colors: Bold graphics, fluorescent colors, gradients, holographic effects are some of the popular stylistic trends in merchandise designing.
• Retro-inspired and Vintage Designs: Nostalgic retro-inspired aesthetics and vintage graphic styles are gaining significant traction in the merchandise designing market.

Merchandise Designing Market Restrain

• High Production Costs: The high cost of production including expenses related to designing software, printing equipment, fabrics etc. restricts the growth of the merchandise design market.
• Seasonal Demand Fluctuations: Demand for merchandise designing is highly seasonal, being higher during occasions like sports events, festivals, trade fairs etc. This results in fluctuating revenues.
• Presence of Counterfeit Products: Widespread availability of low-quality counterfeit merchandise products inhibits the growth of genuine merchandise designers.

Recent Developments

New product launches

• Product Launch 1: In July 2022, Italian fashion brand Gucci collaborated with sportswear brand Adidas to launch a new range of merchandise including shoes, t-shirts, bags and accessories featuring both brand's signatures.
• Product Launch 2: In March 2022, Oriental Trading launched a new personalized merchandising collection allowing customers to add names, monograms, photos and custom text on products.
• Product Launch 3: In January 2022, Under Armour launched UA Iso-Chill, a new line of sportswear merch featuring fabrics that provide cooling sensation to the wearer.

Acquisition and partnerships

• In September 2022, Printful acquired Printify in an effort to expand its on-demand merchandising and fulfillment capabilities. The combined entity will have a global network of 21 production facilities.
• In June 2022, Snapchat acquired D'disrupt to expand its augmented reality capabilities for creating branded merchandise and virtual try-ons.
• In April 2022, NTWRK, a video commerce platform acquired leading online merchandising marketplace Shopify. This allows Shopify merchants to sell via NTWRK live shows.

Figure 2. Global Merchandise Designing Market Share (%), by Product type, 2023

Top companies in Merchandise Designing Market

• 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
• C&A

*Definition: Merchandise designing refers to the process of creating artwork, patterns, graphics, logos, motifs and other decorative elements for branding and embellishment purposes on consumer products. It involves designing concepts and artwork on apparel, footwear, fashion accessories, home furnishings, souvenirs, sporting goods and various other consumer merchandise. Merchandise designers focus on visual elements like color, layout, typography, material etc. to develop designs that align with the brand image and style. Their work requires combining creative aesthetics with an understanding of clients' needs. The global merchandise designing industry serves various segments like fashion, sportswear, intimates, kidswear, etc. by supporting their product development and branding strategies. With the help of digital technologies, merchandise designers are able to provide customized and personalized designs at scale to meet evolving consumer demand. The industry caters to both large brands as well as small businesses enabling them to create trendy and unique merchandise.