Key Takeaways
- The global knitwear market was valued at USD 284.6 billion in 2023 and is expected to reach USD 412.3 billion by 2030, growing at a CAGR of 5.4%.
- In 2022, the Asia-Pacific region accounted for 52.7% of the global knitwear market revenue.
- The U.S. knitwear market size stood at USD 45.2 billion in 2023, projected to grow at 4.8% CAGR through 2030.
- Global knitwear production volume reached 28.5 billion pieces in 2023.
- In 2022, India produced 4,200 million kg of knitted fabrics for apparel.
- Vietnam's knitwear manufacturing output increased by 18% to 2.1 billion garments in 2023.
- Global knitwear exports totaled USD 180.4 billion in 2023, led by Asia at 65% share.
- EU imported USD 45.2 billion worth of knitwear in 2022, primarily from China and Bangladesh.
- India's knitwear exports grew 10.5% to USD 14.3 billion in FY2023.
- The knitwear industry employed 45 million people worldwide in 2023.
- Bangladesh's knitwear sector provided jobs to 4.2 million workers in 2023, 80% women.
- India's textile and knitwear industry supports 35 million direct jobs as of 2022.
- 72% of global apparel brands source knitwear from factories with sustainability certifications in 2023.
- Recycled polyester usage in knitwear rose to 15% of total fibers in 2023.
- 45% of consumers prefer sustainable knitwear, up from 32% in 2020.
The knitwear industry is growing robustly worldwide while shifting toward sustainability.
Employment & Labor
- The knitwear industry employed 45 million people worldwide in 2023.
- Bangladesh's knitwear sector provided jobs to 4.2 million workers in 2023, 80% women.
- India's textile and knitwear industry supports 35 million direct jobs as of 2022.
- U.S. knitwear manufacturing employed 120,000 workers in 2023, down 3% YoY.
- China's knitwear factories employed 10.5 million in 2022.
- Vietnam's apparel sector, including knitwear, had 2.8 million employees in 2023.
- Turkey's knitwear industry workforce totaled 650,000 in 2023.
- Average wage in Bangladesh knitwear factories was USD 120/month in 2023.
- 65% of global knitwear workers are women, per 2022 ILO data.
- Pakistan employed 2.5 million in knitwear production in FY2023.
- EU knitwear sector jobs numbered 1.8 million in 2022.
- 28% of knitwear workers worldwide faced informal employment in 2023.
- World knitwear workforce gender ratio: 68% female in 2023.
- Average hours worked in knitwear factories: 48/week in Asia 2023.
- U.K. knitwear jobs: 45,000 in 2023.
- Labor productivity in knitwear up 12% to 150 pieces/worker/day globally.
- 15% rise in unionized knitwear workers in Bangladesh since 2020.
- Italy’s knitwear artisans: 200,000 skilled jobs in 2023.
- Youth employment in knitwear: 25% under 25 globally 2023.
- Training programs reached 1 million knitwear workers in 2023.
- Turnover rate in knitwear factories: 18% annually worldwide.
- Remote design jobs in knitwear grew 40% post-COVID to 50,000.
Employment & Labor Interpretation
Market Size & Growth
- The global knitwear market was valued at USD 284.6 billion in 2023 and is expected to reach USD 412.3 billion by 2030, growing at a CAGR of 5.4%.
- In 2022, the Asia-Pacific region accounted for 52.7% of the global knitwear market revenue.
- The U.S. knitwear market size stood at USD 45.2 billion in 2023, projected to grow at 4.8% CAGR through 2030.
- Europe's knitwear sector generated EUR 68.5 billion in sales in 2022, with a forecasted CAGR of 3.9% to 2028.
- India's knitwear exports contributed INR 1.2 lakh crore to the economy in FY2023, marking 12% YoY growth.
- The luxury knitwear segment is anticipated to expand at 6.7% CAGR from 2024-2032 globally.
- China's knitwear market reached CNY 450 billion in 2023, dominating with 38% global share.
- Sustainable knitwear market valued at USD 35.4 billion in 2022, projected to hit USD 78.2 billion by 2030 at 10.5% CAGR.
- Bangladesh's ready-made knitwear industry hit USD 15.8 billion in exports in 2022-23.
- The organic cotton knitwear sub-market grew 15.2% YoY in 2023 to USD 12.6 billion.
- The global knitwear market CAGR is projected at 5.1% from 2023-2028.
- Latin America's knitwear market valued USD 12.4 billion in 2023.
- Middle East knitwear imports reached USD 6.8 billion in 2022.
- Athleisure knitwear segment grew 8.2% to USD 45 billion globally in 2023.
- UK knitwear retail sales hit GBP 3.2 billion in 2023.
- Japan’s knitwear market size was JPY 1.1 trillion in 2022.
- Australia imported AUD 2.5 billion in knitwear in 2023.
- Africa’s emerging knitwear market to grow at 7.5% CAGR to 2030.
- Sportswear knits valued USD 110 billion in 2023 globally.
- Russia’s knitwear production up 4% to RUB 250 billion in 2023.
Market Size & Growth Interpretation
Production Statistics
- Global knitwear production volume reached 28.5 billion pieces in 2023.
- In 2022, India produced 4,200 million kg of knitted fabrics for apparel.
- Vietnam's knitwear manufacturing output increased by 18% to 2.1 billion garments in 2023.
- Turkey produced 650 million pieces of knitwear in 2022, focusing on high-quality cotton blends.
- The average daily production capacity of a standard Chinese knitwear factory is 50,000 pieces.
- Pakistan's knitwear sector manufactured 1,200 million kg of yarn-based knits in FY2023.
- Italy's premium knitwear production volume was 120 million units in 2023, with 70% exported.
- Bangladesh knitwear factories operated at 85% capacity utilization in 2023, producing 4.5 billion pieces.
- U.S. domestic knitwear production totaled 450 million units in 2022, down 5% from prior year.
- Peru's alpaca knitwear output reached 25 million pieces in 2023, emphasizing natural fibers.
- Global production of circular knit fabrics hit 1.2 billion meters in 2023.
- Sri Lanka produced 350 million knitwear pieces in 2023.
- Cambodia’s knitwear output grew 22% to 800 million units in 2023.
- Indonesia manufactured 1.5 billion kg of knits in 2022.
- Egypt’s knitwear production reached 250 million garments in 2023.
- Average knitting machine speed in modern factories: 25 rpm in 2023.
- Morocco produced 150 million knitwear items in 2023.
- Ethiopia’s knitwear factories output 100 million pieces annually in 2023.
- High-tenacity yarn usage in knits up 18% to 500,000 tons in 2023.
- Automated knitting lines produce 30% more output per shift globally.
Production Statistics Interpretation
Sustainability & Trends
- 72% of global apparel brands source knitwear from factories with sustainability certifications in 2023.
- Recycled polyester usage in knitwear rose to 15% of total fibers in 2023.
- 45% of consumers prefer sustainable knitwear, up from 32% in 2020.
- Carbon footprint of average knitwear garment reduced by 20% since 2018 via eco-dyes.
- Organic cotton in knitwear increased to 2.1 million tons globally in 2022.
- 35% of knitwear production shifted to circular economy models by 2023.
- Water usage per knitwear kg dropped 30% to 120 liters with new tech in 2023.
- Fast fashion knitwear waste totaled 92 million tons globally in 2022.
- 62% of brands plan to use 50% recycled materials in knits by 2025.
- E-commerce sales of sustainable knitwear grew 25% YoY to USD 18 billion in 2023.
- 85% of sustainable knitwear uses certified low-impact dyes in 2023.
- Microplastic shedding from knits reduced 25% with new fibers.
- Vegan knitwear market up 30% to USD 8 billion in 2023.
- Blockchain traceability adopted by 40% of knitwear supply chains.
- Energy use per knitwear kg down 22% to 15 kWh with renewables.
- Upcycled knitwear sales grew 35% YoY in 2023.
- 55% consumers willing to pay 20% premium for eco-knits.
- Zero-waste knitting patterns used in 15% production lines 2023.
- Biodegradable knits market to hit USD 5 billion by 2025.
- Fair trade certified knitwear volume: 500 million pieces in 2023.
Sustainability & Trends Interpretation
Trade & Exports
- Global knitwear exports totaled USD 180.4 billion in 2023, led by Asia at 65% share.
- EU imported USD 45.2 billion worth of knitwear in 2022, primarily from China and Bangladesh.
- India's knitwear exports grew 10.5% to USD 14.3 billion in FY2023.
- U.S. knitwear imports from Vietnam reached USD 8.7 billion in 2023.
- China's knitwear exports declined 7.2% to USD 65.1 billion in 2023 due to trade tensions.
- Turkey's knitwear exports hit EUR 7.8 billion in 2023, targeting EU markets.
- Bangladesh exported USD 20.1 billion in knitwear to the U.S. and EU combined in 2022-23.
- Italy exported 80% of its USD 4.2 billion knitwear production in 2023.
- Pakistan's knitwear exports to the EU rose 12% to USD 2.8 billion in 2023.
- Global knitwear trade volume was 12.4 billion kg in 2022.
- Global knitwear imports by U.S. totaled USD 25.6 billion in 2023.
- EU-China knitwear trade volume: EUR 22 billion in 2022.
- Vietnam exported USD 18.5 billion in knitwear in 2023.
- Colombia’s knitwear exports to U.S. hit USD 1.2 billion in 2023.
- Jordan knitwear exports grew 15% to USD 1.8 billion in 2023.
- Canada imported CAD 4.1 billion knitwear mainly from Asia in 2023.
- South Korea exported USD 7.2 billion knits in 2023.
- Mexico’s knitwear trade with U.S. under USMCA: USD 3.5 billion exports.
- UAE re-exported USD 2.4 billion knitwear in 2023.
- Global intra-Asia knitwear trade: USD 40 billion in 2023.
Trade & Exports Interpretation
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