Textiles and Apparel Market Outlook in the Coming Decade

Textiles and Apparel Market

The global textile and apparel market is estimated to be valued at US$ 2588 Bn in 2022 and is expected to exhibit a CAGR of 3.88% over the forecast period 2022-2030.

Market Overview:
Textiles and apparel cater to the basic necessity of protection and clothing. Textile products provide comfort, warmth, safety, and functionality. The materials used are versatile, durable, lint-free, easy to maintain and affordable.

Market key trends:
One of the key trends witnessed in the global textile and apparel market is the growing demand for sustainable textiles. Consumers are increasingly opting for apparel and textiles made from organic, recycled, and eco-friendly materials. Many textile manufacturers and retailers have launched sustainable product lines using recycled polyester, organic cotton, and other sustainable fibers to cater to this growing demand. The adoption of sustainable practices in textile production is expected to significantly drive the market over the forecast period.
Segment Analysis
The textile and apparel market is segmented into clothing, footwear, and home textiles. Within clothing, casual wear is the dominating sub-segment accounting for over 30% of the total clothing market share. This is due to the rising trend of casual dressing among millennials and Generation Z consumers who wear casual clothing for everyday use.

Key Takeaways
The global textile and apparel market is expected to witness high growth, exhibiting a CAGR of 3.88% over the forecast period, due to increasing consumer spending on fashion products and demand for trendy and innovative apparel among young consumers.

Regional analysis
Asia Pacific dominates the global Textile and Apparel Market holding over 40% of the total market share in 2021. This is attributed to the large presence of key players and textile hubs in countries like China, India, Bangladesh and Indonesia. North America is expected to grow at a steady pace due to strong demand from countries like the US and Canada.

Key players
Key players operating in the textile and apparel market are Arvind Ltd, Toray Industries Inc., Tjx Companies Inc., Far Eastern New Century Corp., Vf Corporation, and Industria De Diseno Textil Sa (Inditex). Arvind Ltd and Toray Industries Inc. have emerged as the global leaders by gaining over 10% of the total market share through their wide range of clothing and fabric products.

Read More : https://www.rapidwebwire.com/textile-and-apparel-market-growth-analysis-trends-demand/ 

Comments

Post a Comment

Popular posts from this blog

Location-Based Services Market to Reach US$ 32,210 Million in 2022

Image
Location-Based Services Market Market Overview: The global Location-Based Services (LBS) Market is estimated to be valued at US$ 32,210 Million In 2022 and is expected to exhibit a CAGR of 18.7% over the forecast period from 2023 to 2030. Location-Based Services enable businesses and organizations to provide personalized services and target customers based on their real-time geographic location. These services offer benefits such as increased customer engagement, improved operational efficiency, and enhanced decision-making. The need for Location-Based Services is driven by the growing adoption of smartphones and the increasing demand for location-aware applications in various industries including retail, healthcare, transportation, and hospitality. Market Key Trends: One key trend in the Location-Based Services Market is the integration of LBS with Internet of Things (IoT) technology. The convergence of LBS and IoT allows businesses to track and monitor assets in real-time, enablin
Read more

Precision Medicine Market to Reach US$ 73,946.2 Million In 2022: Coherent Market Insights

Image
Precision Medicine Market The global Precision Medicine Market is projected to reach a value of US$ 73,946.2 Million In 2022 , with a CAGR of 10.3% over the forecast period 2022-2030, according to a new report by Coherent Market Insights. Market Overview: Precision Medicine involves personalized treatment plans and therapies based on an individual's genetic makeup, lifestyle, and environment. It offers several advantages, such as improved treatment outcomes, minimized adverse effects, and targeted therapy for complex diseases. The need for Precision Medicine is increasing due to rising cases of chronic and genetic diseases, increasing healthcare expenditure, and advancements in genomics technology. Market Key Trends: One key trend in the Precision Medicine Market is the use of genomic sequencing. Genomic sequencing refers to the process of determining the complete DNA sequence of an individual. It plays a crucial role in identifying genetic variations and mutations that can be t
Read more

The Evolution And Growth Of The Europe E-Bike Market: A Journey Towards Sustainable Mobility

Image
Europe E-Bike Market In recent years, the Europe E-bike Market has witnessed a remarkable transformation, reflecting the continent's commitment to sustainable and eco-friendly transportation solutions. Electric bikes, or e-bikes, have emerged as a popular choice for commuters and outdoor enthusiasts alike, bridging the gap between traditional bicycles and motorized vehicles. This paper explores the evolution of the Europe e-bike market, delving into its factors driving growth, market trends, regulatory landscape, environmental impact, and the challenges and opportunities it presents. The roots of e-bikes can be traced back to the late 19th century, but it was only in the last two decades that they gained significant traction in Europe. Factors such as increasing urbanization, traffic congestion, rising environmental awareness, and technological advancements in battery and electric motor technologies played a pivotal role in their popularity. E-bikes offered an efficient and sust
Read more