Press release
Textile And Apparel Industry Growth, Market Size, and Share 2024 - 2031 | BSL Limited, Lu Thai Textile Co., Ltd.
Textile And Apparel Industry
Global textile and apparel market is estimated to be valued at USD 2,783.62 Bn in 2024 and is expected to reach USD 3,687.78 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.
Market Dynamics:
The global textile and apparel market is expected to witness significant growth over the forecast period owing to two key drivers-
Firstly, the rapidly growing urban population worldwide is expected to boost demand for textiles and apparel. As people migrate from rural to urban areas, their purchasing power and spending on non-essential consumer goods increases. This translates to higher sales of fashion clothing and accessories.
Secondly, the changing preferences of millennials and generation Z towards fast fashion is supporting short lifestyle cycles and more apparel purchases. Their focus on new trends and styles has encouraged apparel companies to accelerate production and offer fresh inventory more frequently. This fast fashion culture is one of the major customer-based drivers propelling the textile and apparel market growth.
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The Growing Demand for Affordable yet Quality Clothing Around the World is Driving the Textile And Apparel Market
With rising incomes and growing populations in developing countries, more individuals are now able to afford basic clothing items for everyday use. The textile and apparel industry has responded by ramping up production of reasonably priced shirts, trousers, dresses and other attire. Global retailers too have expanded into new international markets by establishing local manufacturing and sourcing networks to offer low-cost garments. The affordability of mass-produced textile products has made clothing accessible to the masses.
Eco-Friendly and Sustainable Production Presents a Viable Market Opportunity
Consumers are increasingly prioritizing sustainability in their buying decisions and prefer products with ethical credentials. The textile industry generates massive volumes of waste from inefficient processes as well as non-biodegradable synthetic fabrics. However, this concern presents an opportunity for companies embracing environmentally responsible practices. Adopting cleaner manufacturing techniques, minimizing use of hazardous chemicals and wastage, sourcing renewable or recycled inputs as well as enabling circular business models can gain competitive advantage.
Popularity of E-commerce and Online Shopping Impacts the Textile And Apparel Industry Trends
Enhanced internet access and proliferation of smart devices have vastly boosted e-commerce sales. Digital-savvy customers now prefer browsing extensive catalogues and completing purchases in the convenience of their homes. Players in the textile and clothing business have correspondingly upgraded their omni-channel strategies and invested in robust online platforms. Leading retailers derive a sizable proportion of revenues through e-shops.
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Top Companies Featured in This Report:
โ BSL Limited
โ Lu Thai Textile Co., Ltd.,
โ Paramount Textile Limited
โ Paulo de Oliveira
โ S.A.
โ Successori REDA S.p.A.
โ Shijiazhuang Changshan Textile Co.
โ Ltd
โ Solvay S.A.
โ JCT Limited
โ The Bombay Dyeing & Mfg. Co.
โ Ltd
โ Raymond
โ DBL Group
โ IBENA Inc.
โ Adamjee Textiles
โ Heytex
โ TIROTEX
โ Fratelli Balli S.p.A.
โ Lakhmi Woollen Mills
โ Australian Textile Mills
โ Mayur Fabrics
โ Helm Textile Mills
Market Segmentation:
By Product Type:
โ By Material Type: Natural (Cotton, Silk, Others (Wool, etc.)), Synthetic (Nylon, Polyester, Others (Blended Fibers, etc.))
By Applications:
โ By Application: Retail Store, Clothing Textiles, Technical Textiles, Fashion Textiles, Home-Dรฉcor Textiles, Others (Sports Textile, Industrial Textile, etc.)
Key Regions/Countries Classified as Follows:
ยป North America (U.S., Canada, Mexico)
ยป Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
ยป Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
ยป South America (Brazil, Argentina, Rest of SA)
ยป Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
๐ What was the size of the Textile And Apparel Market in 2024, and what is the projected value by 2031?
๐ What is the present global market landscape for the Textile And Apparel Market?
๐ What strategies offer optimal opportunities for growth maximization in the business?
๐ What recent trends are shaping the Textile And Apparel Market?
๐ How does the market share of Textile And Apparel Market revenue, sales, and size vary across specific geographical regions?
๐ Who are the prominent industry players in the Textile And Apparel Market?
๐ Which segment of the Textile And Apparel Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Textile And Apparel sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
๐ Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5417
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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