Analysis of Textile market covering 30+ countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global sales of textile is likely to garner a market value of US$ 995 Billion in 2022 and is expected to register a CAGR of 3.77% by accumulating a market value of US$ 1,440 Billion through the assessment period 2022-2032
The textile industry mainly functions on designing, production, and distribution of materials such as yarn and clothing. Knitting, crocheting and weaving are largely used to produce a wide range of finished and semi-finished goods for different end user industries such as bedding, clothing, apparel and medical.
Market Size Value in 2022
US$ 995 Billion
Project Market Forecast Value in 2032
US$ 1,440 Billion
Global Growth Rate (2022-2032)
Market Share of Asia Pacific
Key Companies Profiled
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As per Fact.MR’s report, from 2015 to 2021, the global sales of textile market experienced a CAGR of 3%, surpassing US$ 990 Billion by the end of the said historical period. A rising global population combined with increased applications of different textile grades across multiple end use industries has led to increased demand in the recent past.
While demand across several end use industries stalled, the healthcare domain experienced a spike in textile demand during the COVID-19 pandemic. Given the exponentially rising hospitalization rates, hospital staff and patients alike were required to wear clothing which would prevent transmission of the virus, including face masks, gloves and protective gear.
Penetration of online platform to sell and distribute goods made from textiles is driving demand. In addition, an increase in the demand for apparel from the fashion industry from all age groups is increasing the sales of textiles. Thus, the sales of textile are expected to exceed US$ 1,440 Billion by registering a CAGR of 3.77% in the forecast period 2022-2032.
Fast-changing fashion trends due to an increase in online fast fashion companies along with continuous changing fashion trends are driving the sales of textiles. Moreover, increasing trend of using smart textiles such as optical fibers, metals, and various conductive polymers that interact with the environment has changed the face of the textile industry.
These smart textiles help in detecting and reacting to various physical stimuli. For example: mechanical, chemical, thermal, & electric sources. Thus, the demand for smart textiles has increased from the end user industries. In addition, growing inclination towards sustainable products is forcing major companies to focus on restructuring their business and investing in manufacturing practices that target sustainable products.
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Growing inclination of purchasing clothes from e-commerce platforms along with buying related accessories in developing economies is bolstering the demand for textiles in countries like India, Vietnam and Bangladesh.
In addition, penetration of favorable demographics, organized retail, rising disposable income levels, and favorable government policies are expected to boost the demand for textile in the Asia Pacific region. Thus, Asia Pacific is expected to possess nearly 50% market share.
An increase in the sales of sports & apparel and home-furnishing textile products is expanding the demand for textiles across North America. Moreover, the consumption of textile fibers, such as synthetic and cellulose fibers that are needed for filtration in industrial applications are expected to increase the demand for textiles in countries like Canada and U.S.
Thus, North America is expected to hold more than 30% market share for the textile industry in the forecast period
An increase in environmental concerns coupled with conscious consumer shift toward sustainable products is playing a key role in the rapid adaption of natural fibers. In addition, high growth can be attributed to the wide use of natural fibers in the fashion and apparel industry.
Thus, companies are focusing on designing and weaving clothes made from plants. Moreover, the growing trend of veganism is playing a key role in influencing the fashion choices of people. Thus, natural fibers are expected to hold nearly 45% market share for textiles.
An increase in demand for casual and formal wear along with fashionable clothing for all age groups across the globe is driving the sales of textile industry. In addition, growing demand for crease-free suiting & shirting fabrics and quality-dyed & printed fabrics across the globe will drive the segment growth further.
Moreover, growing population and rapid urbanization across the globe and availability of choosing clothes from different platforms are positively influencing the demand for textiles. Thus, by application, fashion and clothing is expected to hold more than 70% market share for textile market.
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Textile manufacturers are focusing on acquiring distribution networks and launching digital collections to propel the sales of the same.
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As of 2022, the market for textiles is forecast to be valued at US$ 995 Billion
The textile industry is expected to surge at a CAGR of 3.77% from 2022-2032.
The textile market is expected to reach nearly US$ 1,440 Bn by 2032, according to Fact.MR
Growth in E-commerce platforms along with inclination towards investing in sports apparel are the key trends driving textile sales.
Lu Thai Textile Co., Ltd, Modern Woollens Ltd., Mayur Suitings, Donear Group, Successori REDA S.p.A, Shadong Jining Ruyi Woolen Textile Co. Ltd, Sinopec Yizheng Chemical Fibre Company Ltd, China textiles Ltd, Paramount Textile Ltd, Paulo de Oliveira, S.A,
Fashion and clothing is expected to gain more than 70% market share for textile market.
Natural Fibres are expected to hold more than 45% market share for textile market.
The textile industry is expected to possess nearly 30% market share throughout North America.
The textile industry is expected to possess nearly 50% market share throughout Asia Pacific.
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