The Latest Global Textile Industry Statistics Explained
The global textile market size was valued at USD 961.5 billion in 2019.
The statistic “The global textile market size was valued at USD 961.5 billion in 2019” indicates the total value of the worldwide textile industry in terms of revenue generated from the sale of textiles during the year 2019. This figure reflects the substantial economic significance of the textile sector on a global scale, encompassing a wide range of products such as apparel, home textiles, technical textiles, and others. The sizeable market value highlights the widespread demand for textile products and the significant role of the industry in driving economic activity, employment, and trade across various countries and regions. Additionally, this statistic serves as a key indicator for stakeholders, policymakers, and investors to understand the scale and potential growth opportunities within the global textile market.
China, United States, India and EU28 were the largest markets for apparel in 2019.
The statistic indicates that in 2019, China, United States, India, and the European Union (EU28) were the leading markets for apparel consumption. This suggests that these regions had the highest levels of demand for clothing products compared to other countries or regions. Factors such as population size, economic development, fashion trends, and cultural preferences likely played a significant role in driving the consumption of apparel in these markets. Understanding these preferences and market dynamics is important for stakeholders in the apparel industry, including manufacturers, retailers, and marketers, to effectively target and cater to the needs of consumers in these key markets.
Asia Pacific held the largest share of the textile market in 2019.
The statistic indicates that the Asia Pacific region accounted for the largest portion of the global textile market in 2019. This suggests that a significant amount of textile production, consumption, and trade occurred within countries in Asia Pacific compared to other regions. Factors such as lower production costs, a strong manufacturing base, and a large consumer market likely contributed to the region’s dominance in the textile industry. Companies and investors in the textile sector may find this information valuable for understanding market trends, identifying opportunities for growth, and making strategic decisions related to production and distribution in the Asia Pacific region.
The CAGR of the global textile market is predicted to be 4.3% from 2020 to 2027.
The Compound Annual Growth Rate (CAGR) of the global textile market, measuring the average annual growth rate over a specific period, is projected to be 4.3% from 2020 to 2027. This statistic suggests that the textile market is expected to experience steady growth over the seven-year period. A CAGR of 4.3% indicates that the market size is anticipated to increase by an average of 4.3% each year from 2020 to 2027. This growth rate serves as a valuable metric for investors, businesses, and policymakers to assess future trends and potential opportunities within the textile industry.
Technical textiles make up 30% of textile industry sales.
This statistic indicates that technical textiles comprise 30% of total sales within the textile industry. Technical textiles refer to specialized materials designed for functional purposes such as performance enhancement, durability, or protection. The fact that they account for 30% of industry sales suggests their significance and growing importance within the market. It also indicates a shift towards higher value-added products within the textile industry, reflecting innovation and a focus on meeting specific industry needs. This statistic highlights the diversity and complexity of the textile sector, with technical textiles playing a key role in driving growth and shaping market trends.
China’s textile exports were $119.23 billion in 2020.
The statistic ‘China’s textile exports were $119.23 billion in 2020’ represents the total value of textiles and textile products exported by China in the year 2020. This figure indicates the significant role that China plays in the global textile industry as one of the leading exporters. The substantial value reflects the scale and competitiveness of China’s textile manufacturing sector, which is known for its efficiency and cost-effectiveness. Additionally, it signifies the country’s strong presence in international markets and its ability to meet the demands of consumers worldwide for textile goods.
India is the second-largest producer of textiles and garments in the world.
The statistic that “India is the second-largest producer of textiles and garments in the world” indicates that India has a significant presence in the global textile and garment industry, ranking only behind another country in terms of production output. This suggests that India has a strong manufacturing base, skilled workforce, and infrastructure to support its textile and garment industry, contributing significantly to the country’s economy and employment. The statistic highlights India’s competitive position in the global market for textiles and garments, showcasing its capabilities in meeting domestic and international demand for clothing and fabric products.
Bangladesh holds fifth place in global garment exports.
The statistic “Bangladesh holds fifth place in global garment exports” indicates that Bangladesh is ranked as the fifth largest exporter of garments in the world. This suggests that the country has a significant presence and contribution to the global garment industry, both in terms of production capacity and export volume. The ranking highlights Bangladesh’s competitiveness and success in the garment sector, showcasing its ability to manufacture and sell clothing products on a large scale to international markets. This position signifies the importance of the garment industry to Bangladesh’s economy, providing employment opportunities and driving economic growth through exports.
The textile industry accounts for about 4% of the global market share.
This statistic indicates that the textile industry holds a significant position in the global market, representing approximately 4% of total market share. This suggests that the textile industry plays a notable role in the global economy, contributing to employment, trade, and economic growth. With a market share of 4%, the textile industry is a substantial sector with influence on consumer trends, supply chains, and international trade dynamics. Understanding the market share of the textile industry is essential for assessing its impact on the overall economy and for making informed decisions related to investment, policy-making, and business strategies.
Polyester was the most commonly used textile fiber in the world in 2018, with an annual production of 51.3 million metric tons.
The statistic indicates that in 2018, polyester was the most widely produced textile fiber globally, with an annual production volume reaching 51.3 million metric tons. This signifies that polyester has become a dominant material in the textile industry, outpacing other types of fibers in terms of sheer production volume. The high production volume of polyester suggests its popularity and widespread use in various textile products, such as clothing, home textiles, and industrial applications. This statistic underlines the significant role polyester plays in the global textile market due to its favorable characteristics, including durability, affordability, and versatility, making it a preferred choice for many manufacturers and consumers.
In 2018, the EU28’s textile and clothing sector comprised approximately 171,000 companies, employing over 1.7 million people.
The statistic states that in 2018, the European Union’s textile and clothing sector was made up of around 171,000 companies, which collectively employed over 1.7 million individuals. This suggests that the industry plays a significant role in the EU economy, providing a substantial number of job opportunities. The high number of companies indicates a competitive market within the sector, which could drive innovation and diversity in the products offered. Additionally, the large workforce highlights the sector’s importance for employment and labor market dynamics in the EU, contributing to economic growth and stability.
The UK Fashion and Textile industry’s contribution in GVA to the UK economy is over £9 billion.
The statistic stating that the UK Fashion and Textile industry’s contribution in Gross Value Added (GVA) to the UK economy is over £9 billion indicates the significant economic impact of this sector. GVA is a measure that assesses the value of goods and services produced by an industry, minus the cost of inputs and raw materials. With a GVA of over £9 billion, the fashion and textile industry in the UK is making a substantial contribution to the overall economic output of the country, highlighting its importance as a key sector supporting economic growth and employment opportunities. This statistic underscores the industry’s importance as a key player in the UK economy and emphasizes the value it brings in terms of revenue generation and job creation.
The Global Textile Home Decor Market size was worth a substantial USD 98.32 billion in 2018.
The statistic indicates that the Global Textile Home Decor Market generated a significant revenue of USD 98.32 billion in the year 2018. This figure reflects the total value of textiles and home decor products, such as curtains, bedding, rugs, and upholstery, sold worldwide within that market segment during that specific year. The size of the market suggests that there is a substantial demand for textile home decor items on a global scale, indicating a strong consumer interest in decorating and furnishing homes with textile-based products. This statistic serves as a key indicator of the economic importance and growth potential of the textile home decor industry within the global market.
The cotton segment accounted for a share of 30.2% in 2019 in the global textile market.
The statistic indicates that in 2019, the cotton segment held a significant portion of the market share in the global textile industry, specifically accounting for 30.2%. This suggests that products made from cotton, such as clothing, home textiles, and other goods, were particularly prevalent and sought after during that year. The high market share of cotton highlights its popularity and importance in the textile sector and may reflect consumer preferences for its natural, breathable, and versatile qualities. This statistic can provide valuable insights for businesses operating in the textile industry, helping them understand market trends and make informed decisions regarding production, marketing, and sales strategies related to cotton-based products.
The global textile recycling industry was estimated at around $5 billion in 2019.
The statistic ‘The global textile recycling industry was estimated at around $5 billion in 2019’ indicates the total economic value generated by the global market for recycling textiles during the specified year. This figure captures the revenue generated by businesses involved in the collection, processing, and selling of recycled textile products. The $5 billion estimate signifies the significant size and economic impact of the textile recycling industry worldwide, highlighting the growing emphasis on sustainability and circular economy practices within the global textile sector. This statistic also suggests that there is a considerable demand for recycled textiles, implying potential opportunities for further growth and investment in sustainable textile recycling practices.
Women’s wear accounts for approximately half of the global textile business, while menswear accounts for about a third.
This statistic highlights the significant market share that women’s wear holds in the global textile business as compared to men’s wear. The statement indicates that women’s wear makes up approximately 50% of the overall textile industry, demonstrating the strong demand and consumption patterns associated with women’s clothing. On the other hand, men’s wear accounts for about one-third of the market share, suggesting a slightly smaller but still substantial portion of the industry. This data underscores the significant economic impact and influence of women’s fashion in the textile sector, reflecting the diverse preferences and buying behaviors observed between genders in the clothing market.
The global home textiles market size was valued at USD 94.73 billion in 2018.
The statistic means that in 2018, the total value of the global home textiles market, which includes products such as bedding, towels, curtains, and rugs, was estimated to be USD 94.73 billion. This figure represents the total revenue generated from the sales of home textiles worldwide during that year. The size of the market reflects the significant demand for home textile products globally, indicating a thriving industry with vast opportunities for manufacturers, retailers, and other stakeholders operating within the market. This statistic helps provide insights into the scale and economic significance of the home textiles sector on a global scale in 2018.
Conclusion
The global textile industry statistics provide valuable insights into the trends, challenges, and opportunities within the sector. By analyzing key indicators such as production, consumption, and trade data, stakeholders can make informed decisions to drive growth and sustainability in this dynamic industry. It is clear that the textile industry plays a crucial role in the global economy, and understanding the statistics is essential for businesses and policymakers to navigate the ever-changing landscape of this sector.
References
0. – https://www.knowledge.wharton.upenn.edu
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3. – https://www.www.fortunebusinessinsights.com
4. – https://www.www.gminsights.com
5. – https://www.www.euratex.eu
6. – https://www.www.worldbank.org
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8. – https://www.www.wto.org
9. – https://www.www.statista.com
10. – https://www.www.ukft.org
11. – https://www.www.ibef.org
12. – https://www.www.fibre2fashion.com
