Textile And Apparel Market Growth Accelerated by Sustainable Textile Production
Textile And Apparel Market |
The textile and apparel industry is one of the largest manufacturing industries in the world that provides fabric material for various applications. Textiles are found in household furnishings, clothing, industrial materials, and healthcare products due to its light weight and durability. The global textile and apparel industry relies on natural and synthetic fabrics which are used to manufacture a wide range of functional and fashionable garments. The growing awareness about environmental sustainability has boosted the demand for eco-friendly textile production methods.
The global
Textile And Apparel Market is estimated to be valued at US$ 2662.69 Bn in 2023
and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030,
as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing trend of sustainable textile production has accelerated the growth
of the textile and apparel market over the past few years. Manufacturers are
increasingly adopting greener manufacturing processes that use fewer resources
and chemicals. For instance, many brands have started using organic cotton,
recycled polyester, and other environment-friendly materials in their products.
They have also optimized industrial operations to reduce water consumption and
greenhouse gas emissions. The shift towards eco-friendly solutions is being
driven by increasing consumer demand for sustainable fashion and tightening
environmental regulations. This key trend towards sustainable production is
expected to drive significant growth in the textile and apparel market during
the forecast period.
Segment Analysis:
The global textile and apparel market is dominated by the fashion wear segment.
Fashion wear includes tops,shirts, pants, jeans, dresses, skirts etc. This
segment accounts for over 45% of the total market share. Fashion wear sees
constant changes in trends and demands refreshments in style very frequently.
This leads to high demand and repeated purchases in this segment compared to
other segments like home textiles and technical textiles.
Key Takeaways:
The global textile and apparel market is expected to witness high growth over
the forecast period of 2023 to 2030. Global
Textile And Apparel Market Demand is estimated to be valued at US$
2662.69 Bn in 2023 and is expected to exhibit a CAGR of 20% over the forecast
period 2023 to 2030.
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