Global Textile Garment Market – Industry Trends and Forecast to 2030

Textile Garment Market Analysis and Insights

The textile market is concerned with the design, production, and distribution of yarn, cloth, clothing, and garments. The raw material may be natural or synthetic, which may be using products of the chemical industry. The textile and garment industries contribute significantly to the national economy of many countries. Growing awareness of the latest fashion trends among the young generation helps to propel the textile garment market. Increasing spending on apparel and accessories from online platforms and rising willingness to pay a premium for high-quality apparel, and increasing awareness towards sustainable and eco-friendly clothing help to boost the growth of the textile garment market.

The global textile garment market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.

The global textile garment market is expected to grow significantly in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.2% in the forecast period of 2023 to 2030 and is expected to reach USD 815,080.526 million by 2030. The major factor driving the growth of the textile garment market is the inclination toward the latest fashion trends among the young generation is expected to drive the market growth.

Market Definition

The textile market industry is concerned with the design, production, and distribution of yarn, cloth, clothing, and garments. The raw material may be natural or synthetic, which may be using products of the chemical industry. The textile and garment industries contribute significantly to the national economy of many countries.

Global Textile Garment Market Dynamics

Drivers

• Growing Awareness of the Latest Fashion Trends Among the Young Generation

The adolescents are preoccupied with social acceptance and the coolness associated with their clothes. For this reason, teenagers will exhibit a more brand-oriented decision when they go shopping. Most teenagers will go shopping at stores where they sell quality, high-end designer clothes. Therefore, owing to fast fashion, competitive pressures are becoming higher, and global demand continues to ask for new collections rapidly. Changing collections about every three weeks has induced consumers to act with new behavior. Fast fashion is an economic phenomenon that has allowed everyone to dress following the latest trends. Customers love to see different products every week or month in their favorite stores, and this has led to an increase in the demand for new fashion collections over a smaller period of time, which is expected to drive the demand and sales in the global textile garment market.

• Increasing Spending on Apparel and Accessories From Online Platforms

The fashion industry is more and more interconnected with the digital world. Digital platforms and digital marketing strategies are becoming prevalent in the fashion market, and many new brands have emerged with the development of e-commerce, which allows companies to engage consumers through virtual reality. The fashion and online apparel industry is the one that marks the biggest growth with regard to e-commerce sales. Therefore, the advent of online platforms has increased consumer spending on clothing through these channels, which will drive the sales and revenue in the global textile garment market.

Opportunities

• Increasing Trend of Smart Textiles

Continuous innovation in this segment and their increasing trend can lead the global textile garment market to face extreme growth in the near future. Some of the applications of smart textiles include a color change in the garments in radiation zone or where environmental hazards are higher in quantity. Some examples of medical monitoring of patients are also there for the pharmaceutical industries as well. Actuators and sensors associated with synthesized fabrics enable some wearables to measure some exact data related to health and fitness as well.

Restraints/Challenges

• High Wastage of Resources

Despite a long history of resource conservation in the textile sector, a significant amount of unwanted waste is generated in garment manufacturing. The amount of textile waste generated depends on how much textile product is produced; the more product produced, the more waste there will be. This is a consequence of consumer demand, which in turn depends on the economic growth of the country. The dominance of fast fashion and just-in-time production in the textile industry has led to more frequent seasons and mini collections in-between seasons, which has led to the arrival of new cheap items to the stores every week, even, in some cases, every day. This fast-changing fashion changes a huge amount of waste, which is a bottleneck in the growth of the global textile garment market.

Recent Development

In March 2022, Toray Industries, Inc., announced development of a high-strength textile that employs Toyoflon™, a low-friction polytetrafluoroethylene (PTFE) fiber. This New product will enhance company product portfolio.

Global Textile Garment Market Scope

The global textile garment market is categorized based on material type and product. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Material Type

• Cotton
• Wool
• Silk
• Denim
• Others

Based on material type, the global textile garment market is classified into five segments cotton, wool, silk, denim, and others.

Product

• Women
• Men
• Kids

Based on product, the global textile garment market is classified into three segments women, men, and kids.

Global Textile Garment Market Regional Analysis/Insights

The global textile garment market is segmented on the basis of material type and product.

The countries in the global textile garment market are the U.S., Canada, Mexico, U.K., Russia, France, Spain, Italy, Germany, Turkey, Netherlands, Switzerland, Belgium, Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, and the Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Egypt, Saudi Arabia, United Arab Emirates, South Africa, Israel and Rest of the Middle East and Africa.

Asia-Pacific is dominating the global textile garment market. The U.S. dominates in the North American region due to growing awareness regarding the properties of fiber-based textiles. Germany is expected to dominate the Europe textile garment market due to the increasing spending on apparel and accessories from online platforms and rising willingness to pay a premium for high-quality apparel. U.A.E dominated the textile garment market in the Middle East & Africa due to an increase in demand for sustainable clothing.

The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data point downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Textile Garment Market Share Analysis

Global textile garment market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the global textile garment market.

Some of the prominent participants operating in the global textile garment market are TORAY INDUSTRIES, INC., Arvind Limited, Grasim industries limited, YOUNGOR, PVH Corp, Tabb Textile Company Inc., Ruby Mills, Alok Industries Ltd, DIOR, KPR MILL LIMITED, HYOSUNG TNC, Texhong Textile Group Limited, Apparel Production, The TJX Companies, Inc, and Vardhman Textiles Limited.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning grids, Market Time Line Analysis, Market Overview and Guide, Company Positioning grids, Company Market Share Analysis, Standards of Measurement, Global Vs Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands' understanding of the market for additional countries (ask for the list of countries), clinical trial results in data, literature review, refurbished market, and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors as you require data about in the format and data style you are looking for. Our team of analysts can also provide you with data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.

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