Innovations Unleashed: Textile Market Trends 2023-2030
Textiles Industry | Forecast 2030
Textiles Industry Data Book - Household Textile, Technical Textile and Fashion Textile Market
The economic value generated by the textiles industry was estimated at approximately USD 1.6 trillion in 2022. This economic output is an amalgamation of businesses that are involved in the manufacturing, distribution & supply, and application of textiles.
Access the Global Textiles Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Textile Industry Data Book Coverage Snapshot
Markets Covered
- Textile Industry USD 1,599.1 billion in 2022 7% CAGR (2023-2030)
- Technical Textile Market Size USD 218.88 billion in 2022 7.7% CAGR (2023-2030)
- Household Textile Market Size USD 152.49 billion in 2022 7.3% CAGR (2023-2030)
- Fashion Textile Market Size USD 1,227.74 billion in 2022 6.9% CAGR (2023-2030)
Technical Textile Market Growth & Trends
The global technical textile market size is expected to reach USD 272.33 billion by 2030, registering a CAGR of 4.7% according to a new report by Grand View Research, Inc. The technical textile product exhibits exceptional strength, durability, and superior performance, which makes them fit for several industrial applications.
Increasing concern towards agriculture and attaining high crop yield is one of the major factors fueling the growth of agro textile in the market. Several nets manufactured under agro textile including plant nets, bird protection nets, monofil nets, root ball nets, and various others are extensively used for passive protection of agricultural seeds, crops, or fruits against any external damage.
Order your copy of the Free Sample of “Textiles Industry Data Book - Household Textile, Technical Textile and Fashion Textile Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030, published by Grand View Research
Household Textile Market Growth and Trends
Textiles considered under the household application segment of the market include the ones used in, some of which include bedding, kitchens, upholstery, and towels. Natural fibers such as cotton and linen, as well as synthetic fibers such as polyester and acrylic polyamides, are mainly used for manufacturing household textiles. These textiles are referred to as soft furnishings and include items such as dish towels, bath towels, shower curtains, table linens, and others.
China accounted for just over 19% of the global demand for household textile in 2022, with the country also supplying 30% of global fabric material. The U.S. follows suit after China, as the second largest consumer of household textile. Both countries are characterized by the significant development of their agrarian economies and the concurrent textile demand of their respective populations.
Go through the table of content of Textiles Industry Data Book to get a better understanding of the Coverage & Scope of the study
Fashion Textile Market Growth and Trends
Fashion is gaining importance in the lifestyle of consumers worldwide owing to their constant exposure to advertisements and sales that result in impulsive buying behavior in them. In addition, social media is a key factor contributing to the fast and latest fashion trends. Companies such as H&M and Zara are utilizing social media platforms to reach out to their potential customers and enhance their share in the market.
The fashion segment led the textile market in terms of revenue in 2022 by accounting for a share of over 51% of the market. This segment of the textile market has been further categorized into apparel, ties & clothing accessories, and handbags. Surging demand for crease-free suiting and shirting, as well as quality dyed and printed fabrics from consumers in countries of Asia Pacific, is expected to drive the growth of the fashion segment of the textile market in the coming years.
Competitive Insights
The global textile industry is moderately competitive, with companies increasing their product portfolio and expanding their production capacity to serve the growing demand, particularly in emerging markets. However, the market's fragmented nature is expected to refrain investments by prospective companies over the forecast period. Furthermore, several companies, such as Invista and Weiqiao Textile Co., Ltd. adopted expansion strategies to strengthen their market position and have a competitive edge over others.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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