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From $2.5 billion in 2024, the global e-textile market is poised to grow to $6.8 billion by 2030, according to the latest report from HTF MI. From its original value of $1.1 billion in 2019, the market is expected to expand at a CAGR of 19 per cent from 2019-2030, as per the report.
As per the report, this growth will be driven by a rising demand for e-textiles from industries such as healthcare, sportswear, and consumer electronics. These smart textiles offer innovative solutions ranging from health monitoring to interactive wearable devices, fueling demand and driving market expansion.
Leading players such as Adidas, DuPont, Smart Fabric, Google, Microsoft, Nike, and Samsung are expected to drive this market growth. The report deeply analyses the operations of these company alongwith their financial performance, SWOT analyses and their role in advancing the e-textile market.
Emphasising on the transformative potential of wearable technology and smart fabric solutions, the report positions the e-textile industry as a hotspot for innovation and investment in the coming years. The sector is will redefine traditional textiles in future and expand its footprint across global markets.
Azerbaijan’s cotton fiber exports increased to 113,981 tons worth $169.965 million during the period spanning January-November 2024.
As per a report by ABC.AZ, the value of these exports increased by 52.6 per cent or $58.612 million in value during this period.
As against the corresponding period last year, the total volume of Azerbaijan’s cotton fibers exports rose by 81 per cent Y-o-Y or 51,530 tons
However, the average export price of 1 kg of cotton fiber exported by Azerbaijan declined by 15.7 per cent or 0.47 manats to 2.53 manats during the period spanning January-November 2024 as against 3 manats in January-November 2023.
This year, cotton fiber made up 0.70 per cent of Azerbaijan’s total exports, 5.50 per cent of its non-oil exports.
From April-November 2024, India’s technical textile exports increased by 6.2 per cent as against the corresponding period last year. As per Ashok Kumar Malhotra, Mission Director, National Technical Textiles Mission (NTTM), India exported technical textiles worth $342 million during the period as against $275 million worth of technical textiles exports during April-November 2023.
Demand for technical textiles in India continues to rise in lieu with the rising consumption, says Malhotra. The country needs to promote domestic production to prevent imports from rising, he opines. Currently, India is focusing on expanding its exports, particularly for goods like sanitary napkins and nappies, he adds.
According to Malhotra, packing technology and geotextiles are two technical textile domains that are expanding quickly. The NTTM mission has already consumed over half of the $174 million capital allocated to it, It has been further earmarked with an additional capital of $58.81 million to establish the ecosystem through the proper training of the workers, he adds.
Made from jute, ramie, wool and silk, technical textiles can also be manufactured using banana silk, says Malhotra. The mission will assist consumers who wish to participate in the project, he adds.
Silk is being used to manufacture medical textiles, while jute is being used to make geotextiles. Fabrics used by the military at high elevations, railroad fire-resistant fabrics, movie theatre upholstery, civil aviation materials, etc are in high demand currently, adds Malhotra.
Ahmet Oksuz, Chairman of the Istanbul Textile and Raw Materials Exporters Association (ITHIB), has proposed relocating Turkish textile production facilities to Syria, citing lower costs and strategic advantages. In an interview with Anadolu Agency, Oksuz emphasized Syria's potential as a promising investment destination, especially in the textile sector.
Ahmet Oksuz noted that many Syrians who settled in Turkiye have contributed to various industries and suggested that establishing production facilities in Syria as they return home could be advantageous for both countries. He pointed out that Turkiye is facing increasing labor costs and shortages in labor-intensive sectors, making Syria a more cost-effective option for production.
Currently, many Turkish textile firms are investing in Egypt, but Oksuz suggested that shifting focus to Syria would provide greater strategic benefits, particularly in regions close to Turkiye. He added that such investments could enhance Turkiye's production capacity while creating employment opportunities for Syrians.
Sinan Oncel, president of the United Brands Association (BMD), acknowledged the gradual pace of normalization in Syria but expressed optimism about future opportunities for Turkish retail expansion, including franchising.
As Syria’s reconstruction progresses following the collapse of its Baath regime, Turkiye’s textile and retail sectors are poised to play a pivotal role in boosting employment and rebuilding efforts in the region.
The inaugural Shift menswear platform has seen a resounding success, selling out its debut edition in just four weeks. Featuring renowned brands like Michael Kors and Fratelli Rossetti, the Yada Hall in Amsterdam was filled to capacity.
However, due to overwhelming demand and the availability of additional space at the venue, Shift is expanding. The Glass House, a 500m² light-filled space, will be incorporated, allowing for more brands and a more diverse showcase.
Shift's international growth is driven by collaborations with experienced representatives in Belgium, Germany, and Italy. These industry experts leverage their networks to attract leading menswear brands, enhancing the platform's global reach and the quality of its offerings, community, and events.
Preparations for the summer edition are underway, with early registrations already received. The exact dates for the summer edition will be announced in January 2025. Shift will take place on January 26th and 27th, 2025, at Taets Art and Event Park, Zaandam.
The global apparel market is on a growth path and projected to reach a $2.97 trillion by 2033, says a report by Straits Research. The sector is moving ahead at CAGR of 8.02 per cent, with several factors like rising affluence in developing economies, expanding influence of e-commerce, and a growing demand for sustainable and ethical fashion catalyzing growth.
Market drivers
One major factor boosting growth in this sector is rising affluence. Increasing disposable incomes, particularly in emerging markets, are driving greater consumer spending on apparel. This trend is particularly noticeable in countries like China and India, where a burgeoning middle class is eager to embrace fashion as a means of self-expression and status.
The rise of online retail too has revolutionized the apparel industry, offering consumers unparalleled convenience and access to a wider range of brands and styles. Digital innovations, such as augmented reality (AR) and virtual fitting rooms, are further enhancing the online shopping experience, making it more interactive and personalized. And consumers are increasingly prioritizing environmental and social responsibility in their purchasing decisions. This has led to an increase in demand for sustainable and ethical fashion, with brands responding by incorporating eco-friendly materials, reducing carbon emissions, and promoting fair labor practices.
Regional insights
Asia-Pacific: This region is expected to maintain its dominance in the global apparel market, driven by its large population, growing disposable incomes, and significant manufacturing capacity.
Europe: The second-largest regional player, Europe is renowned for its high-quality apparel production, luxury fashion houses, and strong consumer demand for sustainable and eco-friendly fashion.
|
Metric |
Value |
|
Market Size in 2024 |
$1.67 trillion |
|
Projected Market Size in 2033 |
$2.97 trillion |
|
CAGR (2025-2033) |
8.02% |
|
Largest Market |
Asia-Pacific |
|
Fastest Growing Market |
Europe |
Growth opportunities
Even as the market grows there are several areas of growth. For example, sustainability, the growing demand for sustainable and eco-friendly practices presents a significant opportunity for apparel brands to differentiate themselves and capture market share. However, continued investment in digital technologies, such as AI-driven personalization and enhanced online shopping experiences, will be crucial for brands to engage consumers and drive sales.
The sector also faces several bug bears on its growth path. Rising of raw materials, labor, and compliance with environmental regulations are putting pressure on apparel brands' profitability. Supply chain disruption is another issue; global supply chain disruptions, due to COVID-19 pandemic, can impact the timely delivery of products and increase costs.
The Straits Research report aligns with similar industry analyses in highlighting the significant growth potential of the global apparel market, particularly in emerging economies and the e-commerce sector. However, it differentiates itself by providing a more detailed analysis of the factors driving growth, including a look into the rising demand for sustainable and ethical fashion. Additionally, this report offers a more detailed examination of the regional dynamics of the apparel market, highlighting the unique opportunities and challenges present in different parts of the world.
Driven by an evolving consumer demand in the country, Fast Retailing Co-owned Japanese apparel brand Uniqlo plans to replace smaller, less profitable outlets across China with larger outlets in premium locations to better meet market needs and ensure long-term profitability.
According to Pan Ning, CEO, Uniqlo China, this shift aligns with changing consumer behavior and positions Uniqlo to capitalise on China’s market growth while ensuring sustainable profitability.
Uniqlo also aims to enhance its integration of brick-and-mortar and e-commerce operations, fostering collaboration between the two and exploring new sales channels like livestreaming to boost growth.
Currently, Uniqlo has over 920 directly operated stores across more than 200 Chinese cities. The brand creates more than one million jobs across its industrial chain in the country, It plans to adopt a more localised approach by tailoring product assortments to regional preferences, climates, and cultural nuances.
Since 2021, Uniqlo has launched 18 co-branded collections in China featuring local cultural elements, collaborating with various artists to blend modernity with tradition. The brand’s revenue from the country rose by 9.2 per cent Y-o-Y to ¥677 billion ($4.4 billion) in FY 2024, according to the latest financial report. The Chinese market remains pivotal to Uniqlo’s global business strategy, as China’s consumption-driven transformation presents immense opportunities.
The company has also showcased new products at the China International Import Expo (CIIE) in Shanghai, introducing over 10 debut items, including down jackets and dresses, across five editions of the expo.
Beyond China, Uniqlo is extending its global footprint with new initiatives. In late October, it opened a global flagship store in Shinjuku, Tokyo, offering an extensive product lineup, including exclusive collaborations with local companies and unique in-store features like flower and coffee outlets.
The Northern India Textile Mills Association (NITMA) has announced its new office bearers following elections held during its 67th annual general meeting on December 21, 2024.
Sidharth Khanna, Director of Arisudana Industries Ltd, has been elected President. Joining him are Munish Avasthi, CMD of Sportking India, as Senior Vice President, and Ujjwal Garg, Director of Garg Acrylics Ltd, as Vice President.
In his inaugural address, Khanna expressed gratitude to the outgoing office bearers, Sanjay Garg and Mukesh Tyagi, for their contributions to the association. He also welcomed the new leadership team, emphasizing their diverse expertise and commitment to advancing NITMA’s mission.
“I am deeply honored to serve as President of NITMA and look forward to working with my colleagues to support our members and drive the textile industry forward,” stated Khanna.
NITMA reiterated its dedication to fostering growth in the textile sector under the guidance of its new leadership. The association expressed optimism about achieving its strategic goals in the years ahead.
The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) has appealed to Nirmala Sitharaman, Union Finance Minister and Chairperson, GST Council to reconsider the proposed increase in GST rates for garments.
Under the proposed changes, the GST on garments priced between Rs 1,500 and Rs 10,000 would rise from 12 per cent to 18 per cent, while garments priced above Rs 10,000 would attract a 28 per cent tax.
Highlighting the potential consequences of these changes in a representation to the GST Council, Potluri Bhaskara Rao, President, AP Chambers, said, the proposed hike could severely impact the textile and garment sector in Andhra Pradesh, a major contributor to employment and the state’s economy.
The sector is already under pressure from rising input costs, global market uncertainties, and declining consumer spending, Rao emphasised. Increasing GST rates would further drive up garment prices, making them unaffordable for middle-income consumers and potentially leading to reduced demand, he warned.
Small and medium enterprises (SMEs), which dominate the garment industry and operate on thin profit margins, would bear the brunt of the increased tax burden. This could result in business closures, layoffs, and significant job losses across the sector, Rao cautioned.
The AP Chambers urged the GST Council to prioritise sustainability in the textile and garment industry, given its crucial role in job creation, industrial growth, and exports. The organisation appealed for the retention of the current GST rates to protect the sector's stability and ensure its continued contribution to the state’s economy.
The Chambers expressed hope that the GST Council would recognise the importance of the industry and take steps to avoid a tax increase that could jeopardise its future.
India’s garment exporters believe, the recent depreciation of the Indian rupee will help boost shipments of garments and handicrafts from India by around 5-10 per cent. However, a sharper fall in currencies like the Chinese yuan, Japanese yen, and Mexican peso may lead international buyers to demand price cuts, eroding long-term competitive advantages from the rupee's decline.
After crossing the Rs 85 mark for the first time recently, the Indian rupee reached an all-time low of 85.10 per dollar. With nearly 60 per cent of India's trade benefit, dollar-based, the depreciation is expected to benefit traditional export sectors like textiles and leather.
Sanjay Jain, Managing Director, TT, notes, the rupee depreciation will help the entire textile chain, with exporters retaining about 50 per cent of the benefit while passing the rest to buyers.
The handicraft sector also expects a 2-3 per cent rise in exports due to the rupee depreciation, says Rakesh Kumar, Chief Mentor, Export Promotion Council for Handicraft
Exporters without hedged positions could gain the most in the short term, though these benefits may not be sustainable, opines Ajay Sahai, Director General, Federation of Indian Export Organisations. Only 15 per cent of exporters operate without hedging mechanisms, according to estimates by industry experts.
Since the start of the year, the rupee has depreciated 2.2 per cent against the dollar, but other currencies have weakened more significantly—such as the Brazilian real (26.8 per cent), Mexican peso (19.6 per cent), Japanese yen (11.8 per cent), South Korean won (11.7 per cent), and Chinese yuan (2.6 per cent). The rupee has faced relatively less depreciation, except in the last two months, notes Madan Sabnavis, Chief Economist, Bank of Baroda. While a weaker rupee aids exports, the sharper depreciation of the yuan could give Chinese exporters a competitive edge, the bank highlights in a recent report
The rupee depreciation has been more pronounced since Donald Trump’s election as US president, reflecting global economic pressures. Despite short-term gains, exporters remain cautious about the long-term implications of the rupee’s fall, adds Sabnavis.
