Press release
Knitwear Market Size, Share, Key Players, Business Opportunities, trends
Kintwear refers to the clothing articles are made from wool or other yarns that are knitted together to form a fabric and they can be worn on a daily basis. These textiles are also utilized to create seasonal and athletic apparel. Knitwear has become a staple in the wardrobes of both men and women. On e-commerce sites, there is a large choice of knitwear that can be paired with any outfit.View Detailed Report: https://www.databridgemarketresearch.com/reports/global-knitwear-market
Global Knitwear Market was valued at USD 644.29 billion in 2021 and is expected to reach USD 1606.67 billion by 2029, registering a CAGR of 12.10% during the forecast period of 2022-2029. The "online" segment within the distribution channel will grow with highest CAGR within the forecasted period as younger generation is becoming more interested in online shopping. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behavior.
Knitwear Market Dynamics
Opportunities
Awareness and Penetration
The high awareness towards use of biodegradable products are estimated to generate lucrative opportunities for the market, which will further expand the knitwear market's growth rate in the future. Additionally, the increasing penetration on e-commerce industry will also offer numerous growth opportunities within the market.
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Increased Fashion Awareness and Knitwear Requirements
The market demand is boosted by increased awareness of fashion and social media influence. Additionally, the growing participation of young population in various sports activities such as yoga, swimming, running, aerobics along with the inclination towards luxurious lifestyle are estimated to bolster the overall growth of the market.
Application
Outerwear
Innerwear
Sportswear
Others
On the basis of application, the knitwear market is segmented into outerwear, innerwear, sportswear and others.
Some of the major players operating in the knitwear market are
Adidas AG (Germany)
Gildan Activewear S.R.L. (Canada)
Loro Piana S.p.A. (Italy)
Puma SE (Germany)
Ralph Lauren (U.S.)
The Nautical Company (UK) Ltd
Victoria's Secret (the USA)
Maglificio Ripa S.p.a (Italy)
North America is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing awareness of healthy lifestyle in countries, changing trends in fashion industry and increase demand for seasonal outfits, such as sweaters and hoodies within the region.
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