Textile Market is set to surge with a projected CAGR of 7.7% from 2024 to 2030

According to Maximize Market Research report, the Textile Market size was valued at USD 1695.23 Bn in 2023 and is expected to reach USD 3041.24 Bn by 2030, at a CAGR of 7.7%.

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Textile Market Overview:

The global textile market is a cornerstone of the fashion and apparel industry, continuously evolving in response to changing consumer preferences, technological innovations, and sustainability demands. With rising disposable incomes, urbanization, and lifestyle changes, the demand for diverse textile products is expanding across both developed and emerging markets. This growth is further fueled by advancements in textile manufacturing technologies and a growing shift toward eco-friendly practices. As sustainability becomes a central focus for brands and consumers alike, the textile industry is seeing a transformation towards more environmentally conscious production processes and materials, making the market more dynamic and competitive.

Drivers in the Textile Market:

One of the primary drivers of growth in the textile market is the rapid urbanization and changing lifestyles, particularly in developing countries. As more people move into urban areas, there is a surge in demand for a wide variety of textile products, from fashion apparel to home textiles. Additionally, rising disposable incomes have made fashion and home decor more accessible to a larger portion of the population, further contributing to the market’s growth. The growing influence of online retail platforms has also expanded the reach of textile products, providing consumers with more variety and convenience.

Sustainability has become another significant driver reshaping the textile industry. Increasing awareness among consumers about the environmental impacts of textile production is prompting both producers and consumers to adopt more eco-conscious choices. As a result, the market has seen a shift towards sustainable fabrics, recycling technologies, and eco-friendly production methods. Brands and manufacturers are focusing on sustainable sourcing, reducing waste, and introducing innovative materials that minimize the ecological footprint, thus aligning with the increasing demand for greener alternatives.

Textile Market Key Trends:

A key trend in the textile market is the rise of smart textiles and wearable technology. These innovations are driving the development of fabrics that offer advanced features such as temperature regulation, health monitoring, and sustainability through recycled fibers. Moreover, the integration of digital technologies in textile production, including 3D knitting, digital printing, and automated manufacturing, is transforming the industry by improving efficiency, reducing waste, and enabling highly customizable designs. As consumers seek more personalized and high-performance products, these technological advancements are expected to play a significant role in the market's future growth.

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What is expected growth of Textile Market by Product segmentation?

The Textile Market is expected to see substantial growth across various product segments, with apparel and home textiles continuing to dominate the market due to increasing consumer demand for fashion and interior products. The apparel segment, driven by changing fashion trends, rising disposable incomes, and the growing popularity of online retail, is projected to maintain its leadership in the market. Additionally, the home textile segment, which includes products like bedding, curtains, and floor coverings, is also expected to grow significantly, driven by the rising demand for home improvement and interior decor, particularly in emerging economies. The technical textiles segment, encompassing products used in industries such as automotive, healthcare, and construction, is likely to experience accelerated growth as demand for innovative fabrics and functional textiles increases. As the market evolves, demand for sustainable and eco-friendly textiles across all product categories is expected to rise, influencing future product offerings.

Country-Specific Insights

Textile Growth in Austria

Austria is experiencing strong growth in the textile market, driven by increasing demand for sustainable textiles and eco-conscious production practices. Austrian companies like Lenzing AG, known for its innovation in sustainable fibers, are playing a pivotal role in shaping the market's future. The country's commitment to green technologies and circular economy practices is driving demand for environmentally friendly textiles, particularly in fashion and home décor. As sustainability continues to be a major focus, Austria’s textile industry is well-positioned to meet the growing consumer demand for cleaner, more eco-friendly fabric solutions.

Textile Opportunities in Belgium

Belgium presents significant opportunities in the textile market, particularly in the home textiles and technical textiles segments. Companies like Royal Ten Cate are expanding their operations, focusing on innovative and high-performance fabrics. Belgium’s strategic location and robust manufacturing infrastructure make it an ideal hub for exporting textile products across Europe. The increasing emphasis on functional fabrics and smart textiles in industries such as healthcare and automotive is expected to boost the market's growth. Additionally, Belgium’s commitment to sustainability and circular textiles is positioning the country as a leader in eco-friendly textile production.

Textile Trends in Germany

Germany is at the forefront of adopting advanced textile technologies, including smart textiles and wearable technology. Companies like Adidas and Puma are incorporating functional fabrics into their sportswear and performance apparel, driving innovation in the market. Germany’s strong industrial base and leadership in automotive textiles also contribute to the growth of the textile market, particularly in technical textiles. With a rising demand for sustainable fashion and eco-friendly production processes, Germany is well-positioned to lead the European market in innovative and environmentally conscious textile solutions.

Textile Consolidation in France

In France, the textile market is undergoing consolidation as key players like Kering and LVMH continue to expand their textile production capabilities. These companies are acquiring smaller firms that specialize in sustainable textile manufacturing to meet the increasing demand for eco-friendly fabrics. France’s fashion industry is a significant contributor to the global textile market, with luxury brands increasingly adopting sustainable sourcing and production practices. The country’s emphasis on circular economy initiatives and reducing the environmental impact of textile production is creating opportunities for consolidation and innovation in the sector.

Textile Updation in Italy

Italy’s textile market is undergoing significant updates with companies like Italian Super Fabrics focusing on sustainable innovations and smart textiles. The country's reputation for high-quality, luxury fabrics is being enhanced by the integration of eco-friendly materials and digital manufacturing processes. With a growing focus on sustainability and high-performance textiles, Italy’s market is poised for growth, particularly in fashion and home textiles. The demand for customized textiles and personalized fashion is also creating new opportunities in Italy’s textile market, where both innovation and tradition are converging.

Textile Growth in Spain

Spain is seeing strong growth in the textile market, particularly in fashion and home textiles, driven by the increasing demand for sustainable and eco-conscious fabrics. Companies like Inditex, which owns Zara, are leading the way in adopting sustainable practices and expanding their range of eco-friendly products. Spain’s emphasis on renewable energy and waste reduction in textile manufacturing is driving the shift toward more sustainable production methods. As consumer demand for green textiles continues to rise, Spain’s textile market is expected to grow significantly in the coming years, particularly in sustainable fashion and functional home textiles.

Textile Opportunities in the UK

The UK textile market is experiencing increased demand for sustainable fabrics and innovative textile solutions. Companies such as Marks & Spencer and Next are embracing sustainable sourcing and recycling technologies, reflecting the growing demand for eco-conscious products. The rise of smart textiles and wearable technology is another key trend in the UK, with increasing interest in textile-based electronics and functional garments. The UK’s push toward net-zero emissions by 2050 is driving the demand for sustainable textile production, making it a prime market for eco-friendly innovations.

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Segmentation Analysis of the Textile Market:

by Product

Polyester

Natural Fiber

Nylon

Others

by Raw Material

Cotton

Wool

Silk

Chemicals

Others

by Application

Fashion and Clothing

Household

Technical

Industrial

Others

by Distribution Channel

Online Retail

Offline Retail

by End User

Automotive

Healthcare and Medical

Sports and Recreation

Aerospace and Defense

Agriculture and Horticulture

Construction and Infrastructure

Others

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Who is the largest manufacturers of Textile Market worldwide?

Global

1. Inditex (Zara)

2. Adidas AG

3. H&M

4. VF Corporation

5. Alibaba Group

North America

6. Mohawk Industries

7. Hanesbrands Inc.

8. WestPoint Home

9. Milliken & Company

Europe:

10. Burberry Group PLC

11. Marks and Spencer Group plc

Asia Pacific:

12. Welspun India Ltd.

13. Shandong Ruyi Technology Group

14. Fast Retailing (UNIQLO)

15. Li & Fung Limited

16. Middle East and Africa

17. Nigerian Textile Mills Plc

18. Sappi Southern Africa Ltd.

19. Alok Industries Ltd.

20. Vlisco Group

21. David Whitehead & Sons (Africa)

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