Textile Market size was over USD 978 Billion in 2023 and is anticipated to reach USD 2.4 Trillion by the end of 2036, growing at around 7.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of textile is assessed at USD 1055 Billion.
The reason behind this boost is impelled by the increasing e-commerce and the slated demand for garments in the fashion sector. According to a report by Forbes in 2024, more than 59% of the global population now have access to the Internet, and retail e-commerce was propelled to cross about USD 4 trillion in 2021.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024–2036 |
CAGR |
7.9% |
Base Year Market Size (2023) |
USD 978 Billion |
Forecast Year Market Size (2036) |
USD 2.4 Trillion |
Regional Scope |
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Raw Material (Cotton, Chemical, Wool, Silk)
Cotton segment is set to account for textile market share of around 40% by 2036 and impacted by its properties such as color retention, absorption, high strength, and many more. Moreover, the increase in home furnishing shopping, smart furniture, and renovation has also increased the market value for the textile sector globally.
Furthermore, according to a report by USDA Foreign Agricultural Services in 2024, worldwide cotton usage increased from 3.5 million to 116.9 million which is the highest in the last 4 years. In addition, consumers also prefer natural fibers such as cotton, wool, silk, and many more credited to their environmental benefits.
In addition, the textile market has undergone technical advancements that have improved the fabric quality, textures, and knitting, to match the aesthetic demand of the consumers globally.
Product (Natural Fibers, Polyester, Nylon)
Natural fibers segment in the textile market is set to cross USD 70 Billion by 2036, owing to its demand in the apparel and fashion industry driven by its qualities such as biodegradability, comfort, breathability, and others, which act as a growth driver for the growing demand for cotton in the textile revenue share.
According to a report in 2022, the apparel industry was expected to increase by 18% of the current prices in 2021. Additionally, nylon is also used in home furnishing on account of its high moisture-absorbing, elastic, and resilience properties which is a better substitute for silk-based products such as flak vests, parachutes, sticking, and many more.
Our in-depth analysis of the global market includes the following segments:
Raw Material |
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Product |
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Application |
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APAC Market Statistics
Asia Pacific textile market is set to capture revenue share of over 52% by 2036. The landscape's substantial growth in the region is expected due to the surge in population which required a huge amount of clothing, e-commerce apparel, and several related accessories in this developing economy. According to a report in 2024, Asia's population growth rate is the 4th highest with a rate of about 0.66% in 2024.
Attributed to the growth in the fashion sector in Japan, the demand for clothing is also increasing. According to a report by UNIQLO in 2024, store sales increased by more than 18% which includes online sales year on year.
In China there is an easy availability of silk yarn and raw silk as China is the largest producer in the world. According to a report in 2023, China produced about 70% of raw silk and silkworm cocoons globally.
North America Market Analysis
The North American region will also encounter a huge influence on the textile market share during the forecast period will account for the second position attributed to the increasing population of this region. According to the UN-Habitat, it is predicted that the urban population in APAC is projected to increase by 50% by 2050.
The growing export of clothing and textiles in the United States is expected to boost the landscape in this region. According to a report in 2022, the export of apparel and textiles in the U.S. increases by 13% every year.
In Cananda, there has been an increase in the construction sector in the residential, commercial, and manufacturing industries. According to a report in 2024, the industrial space in Canada increased t0 4.3% in 2023, which is about 16 million sq. ft of new space.
Most of these companies are continuously collaborating, expanding, making agreements, and joining ventures for the growth of this revenue share and are estimated to be the major key players in this landscape.
Author Credits: Rajrani Baghel
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