Indian Textile and Apparel Market:Analysis and Forecast 2018-2023
Posted by Sophia Jones on December 25th, 2018
Market Reports on India Provides the Trending Market Research Report on“Indian Textile and Apparel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”under Consumer Goods category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
Summary
Indian textile and apparel market was worth US$ 90 Billion in 2017. The market is further projected to reach US$ 198 Billion by 2023, at a CAGR of around 14% during 2018-2023. Textile is a term widely used for referring to woven fabrics, yarns and fibers made from jute, polyester, cotton, wool, etc. In India, the textile and apparel industry is one of the oldest industries that has witnessed numerous developments over the years. The modern textile industry, however, came into recognition in the early 19th Century with the establishment of the first textile mill in Calcutta.
Today, the textile and apparel market has become a vital contributor to the Indian economy. This can be attributed to the abundant availability of raw materials used for manufacturing apparel such as cotton, silk, wool, etc.
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India represents the largest producer of jute and cotton, and the second largest producer of silk. Due to the high abundance of raw materials coupled by cheap labour costs, the cost of manufacturing textile and apparel is significantly lower than many other competing countries.
India currently has one of the worlds largest young population. Currently around half of the total population is below 25 years of age.
Scope
- The textile and apparel market has been segmented on the basis of applications which mainly include clothing, technical, household and fashion. Amongst these, clothing is the largest segment.
- Based on raw materials, the market has been segmented into natural and man-made fibers. Currently, natural fibers represent the largest segment.
- On the basis of product type, the market has been categorized into yarn, fabric and fiber. Amongst these, yarn is the most popular product type.
- Currently, natural fibers represent the largest segment.
Reasons to buy
- On a regional basis, Maharashtra represents the largest market for textiles and apparels in India.
- Some of the other major markets include Uttar Pradesh, Tamil Nadu, Gujarat and Karnataka.
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