Textiles Apparel Market Size, Industry Trends Report | 2031

Report Description

Global Textiles Apparel Market Outlook 2031:

The global textiles apparel market size was valued at USD 2.56 Billion in 2022 and is projected to reach USD 3.61 Billion by 2031, expanding at a CAGR of 3.88% during the forecast period 2023 - 2031. Textiles are materials made from thin fibers, threads, and filaments mainly derived from different sources such as artificial, natural, or a combination of sources.

Textile fibers are often made by knitting, weaving, and felting yarns in precise patterns and then processing them to make a length of cloth. Cotton, jute, silk, flannel, denim, leather, hemp, wool, velvet, and linen are examples of natural textiles. Certain textiles have a variety of advantageous features including great resistance to alkalis, acids, temperatures, and moisture, and are, thus, frequently utilized in the production of cushioning garments, insulating materials, air filters, carpets, and coated fabrics.

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Textiles Apparel Market Trends, Drivers, Restraints, and Opportunities:

• Growing apparel demand from the fashion sector along with the expansion of e-commerce platforms is projected to propel the market during the forecast timeline.
• Rising trend of smart textiles and product developments including the introduction of optical fibers and conductive polymers present key factors driving market expansion.
• Increasing consumer spending power as well as rising demands for sustainable and natural textile products are estimated to boost the market forward.
• Strict government rules and restrictions regarding deforestation and environment degradation are major challenges projected to hinder the market growth in the coming years.
• The outbreak of COVID-19 pandemic had forced governments across countries to impose restrictions on the manufacturing units. As a result of a disrupted supply chain and imposed lockdown, the market is affected by the pandemic, which acts as a key market restraint.
• Rapid development of new technologies for apparel production is projected to generate immense growth opportunities for the market players.

Scope of the Textiles Apparel Market report:

The report on the global textiles apparel market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Textiles Apparel Market Segment Insights:

Natural fibers segment is projected to hold significant market share

Based on product types, the textiles apparel market is segmented into fabric, natural fibers, nylon, polyesters, yarn, and others. The natural fibers segment is projected to hold significant market share due to their wide applications in the fashion and garment industry. Increasing environmental concerns combined with emerging consumers’ trend toward more sustainable products are likely to boost demand for natural fibers.

The polyesters segment, however, is expected to expand at a healthy growth rate in the coming years due to its various remarkable features such as high strength, wrinkle resistance and chemical, and quick drying. It is used in both households as a cushioning and insulating material in pillows as well as in industries to make coated fabrics, air filters, carpets, and other products.

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Cotton segment is anticipated to account for a substantial share

On the basis of raw materials, the market is fragmented into chemical, cotton, silk, wool, and others. The cotton segment is anticipated to account for a substantial share of the market owing to its exceptional qualities such as strong absorbency, strength, and color retention. India, China, and the United States are the world's largest producers of cotton and cotton-based products.

The chemical segment, however, is likely to register a substantial growth rate during the forecast period as they are vital components for the entire textile production business. Despite the fact that chemicals are detrimental to human health and the environment, they are widely utilized in the textile business as neutralizers, mercerizing agents, binders, leveling agents, thickeners, and stain-removers.

Fashion textiles segment to expand at a robust pace in the near future

In terms of applications, the textiles apparel market is segregated into clothing textiles, fashion textiles, home-decor textiles, technical textiles, and other textiles. The fashion textiles segment is expected to expand at a robust pace in the near future due to the rising consumer spending on clothing and apparel.

Furthermore, increasing consumer demand for shirting fabrics and crease-free suiting as well as printed fabrics and quality dyed are expected to fuel the segment growth. Furthermore, rising demand for casual and formal wear as well as other stylish items among all age groups of the global population present another key drivers of the segment.

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Asia Pacific is expected to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to the increasing sales of clothes and apparel goods. Furthermore, the existence of a large number of clients on e-commerce platforms purchasing apparel and related accessories in developing economies acts as a major factor pushing the regional market expansion.

Moreover, increasing organized retail penetration, rising income levels, favorable demographics, and friendly government policies are likely to drive substantial demand for textile products in the region.

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