Textile & Apparel

Sector

Textile & Apparel

Vrushali-Sonawane-1
Vrushali Sonawane

Sector Expert
   

Snapshot

Global Textile and Apparel trade is expected to cross $1 Trn mark in 2025-26
The market was estimated at $764 Bn in 2018. The textile mills market primarily includes yarns and fabrics. The APAC region accounted for 59.6% of the global textile mills market value in 2016. Europe accounts for 19.1% and the United States accounts 10.8% of the market. The global textile mills market is forecast to reach $961.0 Bn in value in 2021 increased by 28.5% since 2016. The value of the global apparel manufacturing market totalled $785.9 billion in 2016, up 3.3% from a year earlier. The Asia-Pacific region accounted for 61% of the apparel market value in 2016 and Europe accounted for a further 15.2% of the apparel market. The global apparel manufacturing market is expected to reach $992 Bn in value in 2021, with an increase of 26.2% since 2016. The value of the global apparel retail market totalled $1,414.1 Bn in 2017 (52.6% womenswear, 31.3% menswear and 16.1% children wear), up by 4.9% from a year earlier.
Textile industry Market Overview

% 1
China share of Global textile & Apparel Export
$ 1 Bn
Global Apparel Retail Market Size
$ 1 Bn
Global Apparel Resale Market
INDUSTRY SCENARIO FOREIGN INVESTMENT INDUSTRY TRENDS MAJOR PLAYER

The three world regions with the largest apparel markets are the 28 member states of the European Union, the United States, and China, in descending order. Despite the current global economic downturn, the global apparel industry continues to grow at a healthy rate and this, coupled with the absence of switching costs for consumers and great product differentiation, means that rivalry within the industry is no more than moderate. The apparel industry is of great importance to the economy in terms of trade, employment, investment and revenue all over the world. This particular industry has short product life cycles, vast product differentiation and is characterized by great pace of demand change coupled with rather long and inflexible supply processes. It is estimated anywhere between 20 Mn and 60 Mn people are employed in the textile industry worldwide.

  • The textile industry is an ever-growing market, with key competitors being China, the European Union, the United States, and India.
  • China is the world's leading producer and exporter of both raw textiles and garments.
  • The United States is the leading producer and exporter of raw cotton, while also being the top importer of raw textiles and garments.
  • The textile industry of the European Union comprises Germany, Spain, France, Italy, and Portugal at the forefront with a value of more than 1/5th of the global textile industry, and it is currently valued at more than $160 Bn.
  • India is the third-largest textile manufacturing industry and holds an export value of more than $30 Bn.

The shift from becoming world's largest textile manufacturer and supplier to becoming world's biggest consumer of textile has just started in Asia region. The global manufacturing value chain is also expected to attract investment worth $ 350 Bn to cater to the additional apparel market demand of $ 1 Trn by 2025. These changes will be the direct result of the global demographic changes. Globally, in the last two years, there has been a flurry of activity in the Mergers and Acquisitions (M&A) space. Industry experts have put it down to the fact that as multinationals have the funds, they want to expand their current businesses and hence, there has been an acceleration in M&A deals. The cut-throat competition from international markets forced the many companies to opt for merger and acquisition strategies, making it vital for survival.

  • Killer Jeans maker Kewal Kiran Clothing Limited acquired women’s clothing brand Desi Belle
  • Advent International, one of the largest and most experienced global private equity investors, announced that it has acquired a 100% stake in Enamor
  • South Korea's Youngone to invest in Ethiopian textiles industry
  • Advent International acquires significant stakes in Dixcy, the leading Indian innerwear brand
  • Aditya Birla group owns acrylic fibre business in Thailand, viscose filament yarn businesses and spinning mills in India and South East Asia

Natural fibre composites are relatively lighter and have more strength than conventional fibres. Therefore they find extensive application in the automotive industry for interior and exterior applications. These fibres are widely used to manufacture garments, apparel, construction materials, medical dressings, and interiors of automobiles, among others. The abundance of natural fibres, especially cotton, in China, India, and the United States, is contributing significantly to the growth of the global textile market. The increasing consumption of natural fibres, such as cotton, silk, wool, and jute, will drive the global textile market. Increasing birth rate and aging population has contributed to the growing demand for hygiene products, such as baby diapers, sanitary napkins, and adult incontinence products, which, in turn, is expected to fuel the demand for non-woven fabrics. Nonwovens are used in road construction in the form of geotextiles to increase the durability of roads. Low maintenance costs associated with nonwovens are expected to fuel its demand in construction applications.

  • Increasing Demand for Natural Fibbers
  • Shifting Focus toward Non-woven Fabrics
  • Energy efficiency has already become one of the top priorities of textile industries.
  • Energy efficiency trend has been around for a decade, but the demand and the need of energy efficiency textile products has risen at rapid pace only recently.
  • The textile sector is also focusing on reviving the technology and staying update with the technical revolution.
  • Demand for sophisticated machines that produce high-quality clothes is drastically increasing
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