Clothing Fibers Market Growth & Trends
The global clothing fibers market size is expected to reach USD 254.75 billion by 2027, according to a new report by Grand View Research Inc., expanding at a CAGR of 3.7% from 2020 to 2027. Increasing the adoption of specialty clothing and apparel products among all age groups is expected to drive the demand for clothing fibers. Moreover, the rise in fashion trends across the globe is likely to have a positive impact on market growth.
Commercial availability of the products from different sources, like plants, animals, and synthetic, has provided growth prospects for the market. Production of synthetic materials and a rise in the adoption of natural materials are expected to positively influence market growth. Moreover, growing trends in activewear and multi-specialty clothing and apparel are anticipated to increase the penetration of clothing fibers.
The growing fashion industry across the globe is likely to provide growth opportunities for the market. The product demand was driven by men’s wear applications in 2019 and is expected to lose shares to women’s wear in the forecast period owing to a rise in demand from the ladies’ fashion segment. Whereas, the kid’s wear segment is expected to accelerate at a significant rate in the estimated time.
Several domestic and multinational players are operating in the market owing to the high demand for clothing and apparel in major geographies across the globe. Asia Pacific was the largest regional market in 2019 due to the presence of a pool of players in domestic markets, especially in China, India, Bangladesh, and Japan.
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Clothing Fibers Market Report Highlights
By product, cotton is anticipated to expand at a revenue-based CAGR of 4.2% over the forecast period on account of its wide utilization in apparel making, which is applicable in all categories, including men’s, women’s, and kid’s wear
In 2019, the men’s wear end-use segment dominated the market with a share of 37.0% and is likely to ascend at a moderate rate in the projected period. Increasing demand from the women’s apparel segment is expected to take over the men’s wear segment in the upcoming period
In North America, the synthetic fiber segment stood at USD 176.76 billion in 2019 and is anticipated to ascend over the estimated time on account of the wide acceptance of synthetic materials for clothing manufacturing
Asia Pacific accounted for the largest revenue share in 2019. High demand for clothing and apparel from a growing population, along with a rise in fashion trends, is expected to increase the demand for fibers
Reliance Industries is the largest producer of polyester fibers globally and is employing aggressive strategies to capture a greater share in its domestic market. Moreover, it offers clothing and apparel products.
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