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| Global Textile And Apparel Market Size |
The textile and apparel industry
represents one of the oldest and largest manufacturing sectors in the world.
Textiles play an important role in daily lives ranging from clothing, home
furnishings to various industrial uses. The textile industry manufactures a
variety clothing and fashion garments as well as non-apparel textile products
including bedding, towels, curtains, upholstery and industrial textiles.
The global textile and apparel market is estimated to
be valued at US$ 3067.42 Bn in 2024 and is expected to exhibit a CAGR of 20.% over the forecast period
2024 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The growth of the textile and apparel market is largely accelerated by the
increasing adoption of e-commerce platforms. Rising internet penetration and
growing preference of consumers towards online shopping has boosted the
e-commerce sales of textiles and apparel products across the globe. According
to recent study, around 25% of apparel sales worldwide are now made through
e-commerce channels. Leading online retailers are partnering with top textile
brands and offering various discounts and deals to attract more customers.
Their wide product range, coupled with easy payment options and doorstep
delivery services have enhanced the overall online shopping experience for textiles
and apparel. This is strengthening the textile and apparel e-commerce industry
substantially and driving significant market growth over the forecast period.
Segment Analysis
The global textile and apparel market is divided into segments such as fiber, fabric,
and application. The fabric segment accounts for the largest share of around
34% in 2024 owing to high demand for fabric from top clothing brands. The
application segment is further divided into transportation, medical and
healthcare, construction, food, fashion and entertainment, and others. The
fashion and entertainment sub-segment dominated the market in 2024 with a share
of over 28% due to rising expenditure on apparels and fashion accessories
globally.
Key Takeaways
Global
Textile And Apparel Market Size is
expected to witness high growth during the forecast period.
Regional analysis: North America dominated the market
in 2024 with a market share of around 27% due to established textile industry
and high per capita clothing expenditure in the US and Canada. Asia Pacific is
expected to grow at the fastest rate during the forecast period owing to rising
middle-class population, increasing disposable incomes, and presence of large
textile hubs in China, India, and other Asian countries.
Key players operating in the textile and apparel market are IBM, Microsoft,
Amazon Web Services, Google, Cisco, NTT Data, VMware, DXC, Rackspace,
Informatica, Accenture, WSM, Zerto, Virtustream, RiverMeadow, OpenStack,
CloudEndure, Cloudreach, Apps Associates, Rigs IT.
Get More Insights On This Topic: https://www.newswirestats.com/global-textile-and-apparel-market-size/
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