Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Textile and Apparel Market Size is Expected to Grow from USD 2,666.42 Billion in 2023 to USD 4047.99 Billion by 2033, at a CAGR of 4.26% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Textile and Apparel Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Natural and Synthetic), By Application (Retail Store, Clothing Textiles, Technical Textiles, Fashion Textiles, Home-Décor Textiles, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The industry that produces and distributes textiles and apparel is known as the textile and apparel market. This market covers every step of the process, from the production of raw materials like fibers and yarns to the creation of fabrics and the final clothing and accessories. While the apparel business concentrates on designing, cutting, sewing, and completing clothing, the textile industry encompasses a variety of components, including spinning, weaving, knitting, dying, and finishing. The global population is increasing rapidly, pushing demand for textiles and clothing. Rising incomes, particularly in emerging markets, have led to a desire for luxury items, such as clothing and fashion. Consumers are increasingly seeking upgraded textile materials and finer craftsmanship, reflecting their higher social status. The burgeoning middle classes in developing nations represent enormous untapped potential demand, with local fashion sensibilities evolving to incorporate more elaborate styles influenced by global trends. Brand names and designer labels gain prestige, and apparel consumption rises as a symbol of modernization and economic progress. However, the global textile and apparel market faces growth challenges due to small players and low-cost alternatives, hindering big brands' economies of scale and limiting premiumization, especially in developing regions.
The synthetic segment accounted for the highest share with 66.7% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the material type, the textile and apparel market is classified into natural and synthetic. Among these, the synthetic segment accounted for the highest share with 66.7% in 2023 and is expected to grow at a significant CAGR during the forecast period. Synthetic materials, known for their versatility, durability, ease of dyeing and printing, wrinkle resistance, and quick drying, have become popular over natural materials like cotton. They are used in various textile and apparel applications, including workwear, industrial textiles, and home furnishings. Mass production of affordable apparel and textiles has been made possible by processing synthetic fibers on large scales.
The clothing textiles segment accounted for the highest market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the textile and apparel market is divided into retail store, clothing textiles, technical textiles, fashion textiles, home-décor textiles, and others. Among these, the clothing textiles segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Clothing textiles dominate globally due to the universal need for apparel across all nations and consumer segments. With rising incomes and improved living standards in emerging economies, clothing consumption has grown significantly. Advancements in fast fashion retailing have boosted short product lifecycles and increased apparel purchases. Developed and developing regions have flourished their domestic clothing industries to cater to this massive global demand, with established clothing hubs contributing to overall textile production and trade volumes.
Asia Pacific is estimated to hold the largest share of the textile and apparel market over the forecast period.
Asia Pacific is estimated to hold the largest share of the textile and apparel market over the forecast period. India's textile and apparel industry, with a robust domestic market and export demand, is being bolstered by government investments in infrastructure, the introduction of schemes like MITRA and PLI, and the integration of advanced technologies into production processes. The Technology Upgradation Fund Scheme is also being developed to further India's global dominance in this sector.
North America is predicted to have the fastest CAGR growth in the textile and apparel market over the forecast period. This is because of the textile industry's rapid expansion in the United States. The United States is the world's second-largest exporter of goods linked to textiles.
Company Profiling
Major key players in the textile and apparel market include 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, and Others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the textile and apparel market based on the below-mentioned segments:
Global Textile and Apparel Market, By Material Type
Global Textile and Apparel Market, By Application
Global Textile and Apparel Market, By Regional Analysis
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