Global Textile Market Overview
The Textile Market Size was estimated at 1,202.4 (USD Billion) in 2022. The Textile Industry is expected to grow from 1,255.67(USD Billion) in 2023 to 1,853.67 (USD Billion) by 2032. The Textile Market CAGR (growth rate) is expected to be around 4.43% during the forecast period (2024 - 2032).
Key Textile Market Trends Highlighted
The textile industry is poised for significant growth, driven by a surge in demand for eco-friendly materials, functional fabrics, and personalized products. The rise of e-commerce platforms and digital printing technologies has revolutionized production and distribution, creating opportunities for small businesses and designers. Growing awareness of sustainability and the increasing popularity of athleisure and athomewear are driving innovation in fabric engineering and product design. Additionally, recent trends include the integration of advanced technologies like smart textiles and wearable devices, offering new possibilities for fashion, healthcare, and consumer electronics. The industry is also exploring opportunities in emerging markets, particularly in Asia, where rising incomes and population growth are creating new demand for textiles and apparel.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Textile Market Drivers
Increasing Demand for Sustainable Textiles
Rising vitalizing environment concerns and human civilization demand livingable pups- later tendencies or impulses to prefer organic and biodegradable, possible recycling and re-creating right along with promoting the progress of textiles. The Textile Market Industry is meeting the higher demand by investing in alternate activities that can be called “sustainable’ because alterable their investment, there was created and day growing vast production of natural and preventive for human health risks and environmental disasters MARINE VINYL.
Rising Disposable Income in Emerging Markets
The second driver of growth in the textile market industry is the shelf of disposable income, which is rising in emerging markets. Along with economic growth, people in the EM are spending more on clothing and other consumer-centric products. This unlocks a vast number of opportunities for manufacturers and retailers within the sector as it drives demand. The industry is currently reacting by building more in the EM and developing new distribution channels to the markets.In addition, the production is learning to target the needs of consumers in different markets better.
Technological Advancements
Technological advancements are equally fueling the increased growth of the Textile Market Industry. There are new technologies that have resulted in more efficient textile production, minimal wastage, and better-quality textiles. The same technologies have pioneered the production of new and innovative products. An example is the production of smart textiles and wearable electronics. The industry has invested in research and development, with companies trying to bridge the technological gap and produce textiles with the use of modernized technology.
Textile Market Segment Insights
Textile Market Raw Material Insights
The raw material segment has a significant impact on the dynamics of the market. Based on these materials, the market is divided into natural fibers, synthetic fibers, and cellulosic fibers. Each of these classes may be of a great number of species, and each has its particular potential value. The first group comprises such natural materials as cotton, wool, silk, and linen. Cotton fiber is the most valuable as it dominates this market, as it has the largest production volume of textiles, the best properties, and the cheapest. Wool has great softness, very good thermal insulation properties, and high resistance.Silk is one of the luxurious fibers and is used mainly in high-quality textiles. Linen, derived from flax, does not collect electrical charges; it is fresh and does not let the heat in – thanks to the air layer surrounding the skin. Moreover, it is absorbent and pass-through, which also makes it suitable for the manufacture of summer clothes and bed sheets. The most common synthetic fibers are polyester, synthetic silk, nylon, acrylics, aromatic polyamides and polyethylenes, polyvinyl chloride, polypropylene, and polyurethane. Their first discharging opportunity is given by polyester, which, thanks to the combination of properties such as durability, wrinkle resistance, and ability to repel moisture, is the basic and the most important synthetic fiber.Of all fibers, it is regarded as one of the cheapest. Nylon is characterized by great hardness and high elasticity; it is extremely resistant to breaking. This fiber has a dull appearance and is almost white in color, so it may be colored to any desired shade. Acrylic fibers do not absorb moisture and irritate human skin and are used to replace wool in sweaters, bedspreads, and blankets. Examples of cellulosic fibers are rayon, viscose, modal, and Lyocell. They retain many of the qualities of the natural source of cellulose, such as water absorbency and brisk discharging of electricity.Rayon, also known as artificial silk, falls in the first case. Viscose is much more versatile and is used in nearly all kinds of clothing and in the manufacture of bedspreads and drapes. The fiber is much more absorbent than cotton. Few fabrics possess all the desired properties, so most fabrics are blended or mixed with each other. Natural fibers guarantee comfort and natural absorption, while synthetic fibers have great durability and resistance to crumple wrecking. Cellulosic fibers are the most balanced ones, combining the best properties from the natural and the synthetic ones.The supply and demand are now growing, and the products made of textiles enjoy great popularity. This is mainly due to the increase in the size of the population, urbanization, and disposable income levels. In addition, the development of textile technology and the design of eco-friendly products with improved properties will provide development for the market in future years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Textile Market Application Insights
The textile market is divided into several applications, including apparel and clothing, home furnishings, industrial textiles, and technical textiles. Apparel and clothing are the leading segments of this market, and their size reflects the market share. In 2023, the segment will generate over 60% of the market, or USD 608.80 billion. Demand is predicted to rise due to factors such as growing disposable income, the increase in the world’s population, and new fashion trends, among others. Home furnishings will also acquire a substantial market size, reaching USD 254.37 billion worldwide in 2023.Industrial textiles are utilized across various sectors and will develop steadily, while technical textiles will reach a 4.8% CAGR rate because of the products’ high strength.
Textile Market End User Insights
The end-user segment of the Textile Market is classified into residential, commercial, and industrial sectors. Residential textiles include fabrics and materials used in homes, such as upholstery, curtains, bed linens, and towels. Commercial textiles encompass products utilized in businesses and institutions, such as carpets, drapes, and tablecloths. Industrial textiles involve technical fabrics employed in various industries, including automotive, aerospace, and healthcare. In 2023, the residential segment held the largest market share due to the increasing demand for home décor and renovation projects.The commercial sector is expected to witness steady growth driven by the expansion of the hospitality and healthcare industries. The growth is attributed to factors such as rising disposable income, increasing population, and advancements in textile technology. Technological innovations, such as smart textiles and sustainable fibers, are creating new opportunities in the market.
Textile Market Distribution Channel Insights
The distribution channel segment plays a crucial role in shaping the Textile Market. 'Retail Stores' account for a significant share of the market, driven by factors such as the ability to physically examine products, receive personalized assistance and enjoy immediate gratification. In 2023, the 'Retail Stores' segment held a revenue share of USD 654.23 billion, with an anticipated growth rate of 4.2% from 2024 to 2032. 'Online Platforms' are gaining traction due to convenience, wider product selection, and competitive pricing. In 2023, they generated a revenue of USD 321.14 billion, projected to grow at a CAGR of 5.1% over the forecast period.The growth of e-commerce and m-commerce is fueling the expansion of this segment. 'Textile Manufacturers also hold a notable share in the distribution channel landscape. By directly distributing textiles to end consumers or businesses, they bypass intermediaries and potentially offer more competitive pricing. In 2023, the 'Textile Manufacturers' segment generated a revenue of USD 280.30 billion, expected to grow at a CAGR of 4.5% from 2024 to 2032. Strategic partnerships and innovative distribution models are driving the growth of this segment.
Textile Market Sustainability Insights
The increasing consumer consciousness about environmental sustainability is driving the demand for sustainable textiles. The market for sustainable textiles is projected to reach $8.3 billion by 2025, with a CAGR of 9.5%. Organic textiles, recycled textiles, and biodegradable textiles are the three major segments of the sustainable textiles market. Organic textiles are made from natural fibers that are grown without the use of pesticides, herbicides, or other harmful chemicals. Organic cotton is the most popular type of organic textile, but other organic fibers such as hemp, bamboo, and silk are also gaining popularity.Recycled textiles are made from materials that would otherwise be discarded, such as plastic bottles, old clothes, and industrial waste. Recycled polyester is the most common type of recycled textile, but other recycled fibers such as nylon, wool, and cotton are also available. Biodegradable textiles are made from materials that can break down naturally in the environment. Biodegradable fibers such as PLA, PHA, and cellulose are used to make biodegradable textiles.
Textile Market Regional Insights
The textile market is expected to reach a valuation of USD 1,255.67 billion by 2023, expanding at a CAGR of 4.43% to reach USD 1,853.67 billion by 2032. Regionally, the market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023, accounting for approximately 35% of the market. The region's growth is driven by factors such as increasing disposable income, growing demand for home textiles, and rising consumer spending on apparel and accessories. Europe is the second largest market for textiles, with a market share of around 28% in 2023.The region's growth is supported by a strong fashion industry, a large consumer base, and technological advancements in textile manufacturing. APAC is projected to be the fastest-growing region in the textile market, with a CAGR of over 5% from 2023 to 2032. The region's growth is primarily attributed to the increasing population, rising urbanization, and expanding middle class. South America and MEA are relatively smaller markets for textiles, but they are expected to witness steady growth in the coming years due to factors such as population growth, economic development, and increasing demand for textiles in various industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Textile Market Key Players And Competitive Insights
Major players in the Textile Market industry are continuously concentrating on adopting technology and innovation to offer new products that align with the ever-changing needs of the market. Leading industries are approaching market concentration through thought leadership. Major Textile Market players are making efforts to adopt new technology. The Textile Market industry is highly competitive. Increasing demand for sustainable textiles and the rise of e-commerce and athleisure are some of the few factors driving the market. The textile market industry is growing at a fast pace in developed countries due to the high disposable incomes of the population. In the U.S., 87% of online shoppers shopped for clothing or shoes in 2017. Additionally, the report states that online sales of clothing or shoes increased by approximately 2% from 2018 to 2019. Apparel and accessories contribute the highest market value share by category. However, mobile commerce is increasing exponentially. Factors such as low returns and ease of buy are driving market growth. However, factors such as the inability to try the product before buying are holding back market growth. Moreover, textile market forecast reports state that returns of clothing and shoes may increase by approximately 1% in 2019, with some studies stating that 42% of online consumers return items. According to the report “Clothing Shoes”, 50% of people mentioned that they did not like the item after they had ordered it. Major companies and service providers in the textile industry are launching new products and solutions to grow their business. For instance, in April 2019, PF Concept International and Indicia Worldwide combined together to rebrand Indicia. Four-P has been created to offer custom merchandise and efficiency to the customer from the order process till delivery.
Key Companies in the Textile Market Include
- Gildan Activewear
- Under Armour
- Nike
- Patagonia
- H M
- Hanesbrands
- Gap
- Levi Strauss Co
- VF Corporation
- Fast Retailing
- Inditex
- Columbia Sportswear
- PVH
- L Brands
Textile Market Industry Developments
The textile market is projected to reach USD 1,255.67 billion by 2023, exhibiting a CAGR of 4.43% during the forecast period 2023-2032. The market expansion is primarily attributed to rising disposable income, increasing urbanization, and growing demand for sustainable textiles. Emerging economies such as China and India are major contributors to market growth due to their large population base and expanding textile industries. Technological advancements, including the adoption of automation and artificial intelligence, are also driving market progress by enhancing production efficiency and reducing costs.Recent developments in the textile market include the increasing adoption of eco-friendly practices, such as the use of recycled materials and sustainable production processes. Additionally, the growing popularity of e-commerce platforms has created new opportunities for market players to reach a wider customer base.
Textile Market Segmentation Insights
Textile Market Raw Material Outlook
- Natural Fibers (Cotton, Wool, Silk, Linen)
- Synthetic Fibers (Polyester, Nylon, Acrylic)
- Cellulosic Fibers (Rayon, Viscose)
Textile Market Application Outlook
- Apparel and Clothing
- Home Furnishings (Curtains, Upholstery)
- Industrial Textiles (Medical, Construction)
- Technical Textiles (Geo-membranes, Filtration)
Textile Market End User Outlook
- Residential
- Commercial
- Industrial
Textile Market Distribution Channel Outlook
- Retail Stores
- Online Platforms
- Textile Manufacturers
Textile Market Sustainability Outlook
- Organic Textiles
- Recycled Textiles
- Biodegradable Textiles
Textile Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1202.4(USD Billion) |
| Market Size 2023 |
1255.67(USD Billion) |
| Market Size 2032 |
1853.67(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.43% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Gildan Activewear, Under Armour, Nike, Patagonia, H M, Hanesbrands, Gap, Levi Strauss Co, VF Corporation, Fast Retailing, Inditex, Columbia Sportswear, PVH, and L Brands |
| Segments Covered |
Raw Material, Application, End User, Distribution Channel, Sustainability, Regional |
| Key Market Opportunities |
Smart textiles Eco-friendly and sustainable textiles Home textiles Technical textiles Personal protective equipment |
| Key Market Dynamics |
Growing demand for sustainable textiles Technological advancements in textile manufacturing Rising consumer awareness toward ethical fashion Expansion of e-commerce platforms for textile sales Increasing investments in research and development |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
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Frequently Asked Questions (FAQ) :
The textile market was valued at 1255.67 billion U.S. dollars in 2023 and is projected to reach 1853.67 billion U.S. dollars by 2032, exhibiting a CAGR of 4.43% during the forecast period.
North America region is expected to dominate the textile market, accounting for the largest share of revenue.
Textiles find applications in a wide range of industries, including apparel, home furnishings, industrial fabrics, and medical textiles. The apparel segment is expected to hold the largest market share due to the increasing demand for clothing and fashion accessories.
Some of the prominent players in the textile market include Inditex, HM, Nike, Adidas, and PVH Corp. These companies are focusing on innovation, product diversification, and strategic partnerships to maintain their market position.
The growth of the textile market is primarily driven by rising population, increasing disposable income, and changing consumer preferences. The increasing demand for sustainable and eco-friendly textiles is also contributing to market growth.
The textile industry faces challenges such as rising raw material costs, supply chain disruptions, and intense competition. Additionally, fluctuations in fashion trends and the impact of e-commerce on traditional retail channels pose challenges for market players.
Opportunities for growth in the textile market include the increasing demand for technical textiles, the growing popularity of online shopping, and the expansion of the textile industry in emerging economies.
Technological advancements such as the use of automation, artificial intelligence, and 3D printing are transforming the textile industry. These technologies enable the development of new products, improve production efficiency, and enhance supply chain management.
Key trends shaping the textile market include the growing emphasis on sustainability, the rise of athleisure wear, and the increasing adoption of digital technologies.
The outlook for the textile market is positive, with projections indicating continued growth in the coming years. The increasing demand for textiles from various end-use industries, coupled with technological advancements and the growing emphasis on sustainability, is expected to drive market expansion.
