- The growing textile industry is driving the market growth
The market CAGR for zippers is being driven by the growing textile industry. The usage of zippers in the textile industry is growing for various garments, such as for the temporary joining of two edges of the fabric for clothes including jeans, skirts, jackets, shirts, dresses, trousers, hoodies, sweatshirts, cardigans, coats, sweaters, jumpers, fleeces, and many more, is set to propel its market growth. For instance, according to IBEF, India is the world's second-largest textiles and apparel manufacturer. Additionally, the recent government strategies adopted to strengthen the textiles sector are also fueling its market growth.
For instance, in September 2022, the government authorized a production-linked incentive scheme for the textile industry worth USD 1.44 billion. The schedule's incentives will be available for five years, from 2025-2026 to 2029-2030, established on the additional turnover that came between 2024-2025 and 2028-2029. The program aims to promote MMF (manmade fiber) clothing, MMF fabrics, and ten categories of technological textile items.
Additionally, growing demand for the coil zipper owing to the growing consumption of its products, including sporting goods and camping gear, luggage and bags, among others. The increasing population ly and the increase in the trend of traveling, which has expanded the demand for garments, luggage, and bags, are boosting the demand for the market. The increasing disposable income and an expansion in the utilization of lifestyle products are the prominent factors expected to propel the market's growth over the forecast period.
The rising awareness and demand for sustainable and eco-friendly fashion have influenced the zipper market. Consumers are seeking products made with environmentally friendly materials, including zippers. This has driven the development and adoption of sustainable zipper options, such as recycled materials or organic alternatives. Moreover, Technological advancements in zipper manufacturing have improved zipper quality, efficiency, and versatility. Innovations such as invisible, waterproof, and self-repairing zippers have expanded their applications and increased market demand.
Moreover, the growing fashion industry, increasing apparel manufacturing, rising disposable incomes, technological advancements in zipper manufacturing, the growth of e-commerce, the awareness of sustainable fashion, the expansion of the bags and luggage industry, and ization. These drivers fuel the demand for zippers, which are essential components in clothing, bags, shoes, and accessories. The market is influenced by evolving consumer preferences, demand for functionality and aesthetics, and the need for high-quality, durable, and innovative zipper products driving the zipper market revenue.
The global zipper market appears to be experiencing a notable shift towards sustainable materials and innovative designs, reflecting broader trends in consumer preferences for eco-friendly products.
U.S. Department of Commerce