Global textile and apparel market has witnessed growth over the past years due to increasing population, rapid urbanization, rising disposable incomes in emerging economies and ever changing fashion trends. Textiles are one of the most visible representations of culture across regions. The market provides employment to over 60 million people globally and contributes significantly to the GDP of many economies. Innovation in fabric and processing technologies plays a key role in market growth as manufacturers cater to diverse consumer segments.
Market Dynamics:
Global textile and apparel market growth is driven by rising per capita incomes in developing nations, rapid growth of e-commerce fashion retailing, and changing consumer preferences towards sustainable and technologically advanced fabrics. However, stringent environmental regulations regarding effluents from dyeing and treatment processes can hamper the market growth. High dependency on imported raw materials and trade tensions among major trading blocs hamper the market growth.
Key Features of the Study:
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