Press release
Textile And Apparel Market Evaluation and Future Projections 2024 - 2031 | BSL Limited, Lu Thai Textile Co., Ltd.
Textile And Apparel Market
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 growth of the global textile and apparel market is driven by increasing demand from emerging economies undergoing rapid urbanization like China, India. This has resulted in growing demand for affordable textile and apparel products in these regions. Additionally, the rising working population and increasing disposable income has also augmented the demand for fashionable clothing and accessories globally. However, price volatility of raw materials like cotton and supply chain disruptions are some of the challenges faced by the players in this industry.
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Textile And Apparel Market Drivers And Forecast
Technology Advancements In Textile Industry Driving Market Growth
The textile and apparel industry has seen rapid advancements in manufacturing technologies in recent years. Technologies such as 3D body scanning, augmented reality/virtual reality, robotics, AI and block-chain are being implemented across the manufacturing supply chain to improve productivity and efficiency. 3D body scanning allows for precise sizing and fitting of garments tailored to individual body types. The use of AR/VR also helps in virtual prototyping, design, fabric testing and real-time collaboration between designers and manufacturers located in different geographies. Robots are replacing human workers in tasks that require high precision and are repetitive in nature like cutting, sewing and finishing. Block-chain technology provides visibility and traceability into manufacturing and supply chains helping improve compliance and sustainability standards. These technological advancements are enabling textile companies to accelerate production cycles, reduce costs and improve quality of finished goods. Therefore, the increasing adoption of advanced technologies across the textile value chain will be a key market driver over the coming years.
Market Opportunity - Sustainable And Eco-Friendly Textiles
One of the major opportunities emerging in the textile and apparel market is the rising consumer preference for sustainable and eco-friendly fabrics. With increasing awareness about environmental issues like climate change, plastic pollution and water scarcity, customers are seeking apparel made from natural, recycled, organic and biodegradable materials. As a result, products like clothing sourced from organic cotton, bamboo rayon, tencel lyocell and recycled polyester are gaining rapid popularity. Even major fashion brands are focusing on sustainability and adopting green manufacturing practices to be more socially and environmentally responsible. The global organic cotton market alone is estimated to grow at over 10% annually till 2030. Similarly, demand for other sustainable fabrics like recycled polyester from plastic bottles is growing exponentially. This consumer trend towards eco-consciousness presents a huge business opportunity for textile companies to develop innovative sustainable fabrics, improve recycling capabilities and communicate their sustainability credentials to customers through effective branding and marketing. The sustainability wave is expected to be a defining trend shaping the future of textile and apparel industry.
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Top Companies Included in This Report:
• BSL Limited
• Lu Thai Textile Co., Ltd.,
• Paramount Textile Limited
• Paulo de Oliveira
• S.A.
• Successori REDA S.p.A.
• Shijiazhuang Changshan Textile Co.
• Ltd
• Solvay S.A.
• JCT Limited
• The Bombay Dyeing & Mfg. Co.
• Ltd
• Raymond
• DBL Group
• IBENA Inc.
• Adamjee Textiles
• Heytex
• TIROTEX
• Fratelli Balli S.p.A.
• Lakhmi Woollen Mills
• Australian Textile Mills
• Mayur Fabrics
• Helm Textile Mills
Market Segmentation:
Based on Product Type:
• By Material Type: Natural (Cotton, Silk, Others (Wool, etc.)), Synthetic (Nylon, Polyester, Others (Blended Fibers, etc.))
Based on Applications:
• By Application: Retail Store, Clothing Textiles, Technical Textiles, Fashion Textiles, Home-Décor Textiles, Others (Sports Textile, Industrial Textile, etc.)
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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📈 Market Outlook: Get current and future market outlooks, including recent developments, growth opportunities, drivers, challenges, and regional constraints
FAQ:
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Author Bio:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
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