Press release
Apparel Supply Chain Market Higher Growth Rate and Forecast - 2031
The global apparel supply chain market is anticipated to expand at a promising rate from 2021 to 2031 (forecast period). The global apparel supply chain market is likely to be driven by increased apparel demand from the fashion industry and the rise of online retail channels. The apparel supply chain provides organizations with management over the components of the entire process that are involved in the apparel supply chain, allowing them to swiftly identify industry trends and generate collections for them. This is projected to open up new business possibilities for major players and propel the apparel supply chain market over the coming years.
Apparel Supply Chain Market - Competitive Landscape
Leading players in the apparel supply chain market are BSL Ltd., China Textiles (Shenzhen) Co., Ltd., INVISTA Equities, Luthai Group, Rhodia SA (Solvay Group), Paramount Textile Mills (P) Ltd., LLC (Koch Industries, Inc.), Successori Reda SpA, Paulo de Oliveira company, Mayur Fabrics, and Li & Fung Limited.
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The worldwide apparel supply chain market is identified by the presence of both established and emerging competitors. To achieve the greatest market share, the majority of the main competitors in the global apparel supply chain market are pursuing various tactics such as alliances, partnerships, and mergers. For example, in December 2021, Li & Fung Limited established a strategic alliance with Maersk to acquire LF Logistics in order to streamline and integrate supply chains for consumers.
Apparel Supply Chain Market - Trends and Opportunities
The COVID-19 outbreak impacted the sales of apparel supply chain market. Lockdowns throughout the world disrupted transportation networks and made it difficult for integrated supply chains to outsource commodities around the world. Transport services witnessed a decrease in demand as a result of COVID-19, as well as an imbalance in cargo. Raw material shortages were noticed in the textile production process, having an overall negative influence on the global apparel supply chain market. However, with economies all over the world resuming, the global apparel supply chain market is expected to grow.
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Moreover, increasing apparel demand from the fashion industry and the growth of online retail channels are likely to drive the worldwide apparel supply chain market over the forecast period.
Furthermore, the incorporation of innovative technology in the apparel supply chain to gather accurate data at the right moment to assure its authenticity is projected to open up new potential for the global market. Additionally, the inclusion of sustainability efforts into any textile supply chain has become an absolute need in order to decrease carbon emissions in the environment and will become a significant trend.
Apparel Supply Chain Market - Regional Landscape
The Asia Pacific apparel supply chain market is anticipated to develop during the forecast period. Growing e-commerce platform utilization for product purchases and rising apparel sales in the area are expected to contribute to regional market expansion. Moreover, considerable growth in the apparel industry in developing markets like China, India, and others is expected to create revenue-generation opportunities in apparel supply chain market in Asia Pacific during the forecast period. Furthermore, the easy obtainability of raw materials at a cheaper cost is likely to fuel the market development.
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The apparel supply chain market is expected to witness growth in Europe during the forecast period. This is due to favorable trade policies implemented by the government. Moreover, due to the rising demand for home furnishing textile items and sports & clothing, textile demand is projected to grow considerably throughout the projection period. Such aspects are likely to boost the regional market growth.
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