TEXTILE, APPAREL AND CLOTHING INDUSTRY:

The Textile Industry is thriving and developing at breakneck speed. The major purpose of the textile or garment industry is to create and manufacture modern, stylish Fibre, Yarn, Fabrics, Garments, and Apparel, as well as to supply and distribute them. The Textile and Clothing Industry has grown to be great and spectacular as a result of globalisation. Even individuals who are opposed to globalisation cannot avoid being a part of the textile and garment business because of the fierce rivalry. Globalisation has had a significant impact on the textile and garment industries. Globalisation has an impact on national and international trade policy, labour costs, the overall cost of manufacturing apparel, garment quality and market access, the fashion industry, and every aspect of textile and apparel design. Changes in the geographical distribution of textile and garment production have been one of the most significant effects of globalisation.

The Apparel Industry- In terms of revenue generation and job creation, the apparel industry is critical to the development of a country’s economy. Due to worldwide sourcing and intense price rivalry, the industry is undergoing significant changes. The worldwide apparel market has had good growth due to favourable demographic considerations, rising disposable incomes, changes in consumer behaviour, and a significant shift toward branded apparel.

UNDERGARMENTS INDUSTRY:

Underwear or Intimate apparel, sometimes known as underwear, is typically worn adjacent to the skin or under other clothing. Regular briefs, boxer briefs, boxer shorts, trunks, and thongs are the five basic varieties of underwear. The worldwide men’s underwear market is expected to increase significantly. The global population’s growing awareness of personal hygiene. The benefits of wearing underwear could be a major factor in the industry’s growth. Chafing prevention, crotch rot prevention, and extreme comfort are just a few of the benefits. Such benefits, combined with trendy aesthetics, are an ideal match for the explosive expansion of the men’s underwear sector.

Lingerie is a type of underwear worn by women and, in some circumstances, men to improve their appearance and attractiveness. It is regarded quite stylish. Brassiere, panty, sleepwear, shapewear, and daywear are the five types of lingerie. The lingerie industry is predicted to grow at a CAGR of 5.5 percent over the next five years. The emergence of various outlets in hypermarket/supermarket, niche formats, and online lingerie retail has defined the developing retail business. Because of their hectic lifestyles and work schedules, people value comfort and convenience more than ever. Large, well-organized retail stores have a variety of brands and styles of lingerie, such as bras, briefs, and other items. Consumers will have more options because everything is under one roof. Other intimate gear is also available at these businesses to meet the needs of customers. The importance of organised merchants providing branded lingerie apparel has grown in tandem with the rise in consumer preference for branded products. 

READYMADE GARMENTS INDUSTRY:

Readymade clothes are mass-produced clothing made from a variety of fabrics and yarns. These are finished goods that are created to a variety of standard sizes. As consumer affluence has improved and their affection for fashion has expanded, the readymade garment business has seen tremendous expansion over the last decade. The Readymade Garment sector has undergone many changes in recent years and is expected to undergo even more in the future year as a result of developments in manufacturing techniques and a shift in consumer preferences toward corporate aims. The readymade garments market has recently received a lot of traction in businesses all over the world. Also The global readymade garments market has grown because to an increase in sports and fitness consciousness, as well as dynamic fashion trends and their influence on consumers.

INDIAN MARKET ANALYSIS:

The textile and clothing industry in India is not only one of the country’s oldest, but also one of the largest in terms of output, employment, and foreign exchange profits via export. While India is the world’s second largest manufacturer of textiles and apparels, it also employs over 45 million people directly, making it India’s second largest employer after agriculture. Clothing, often known as readymade clothes, is the most important segment of the Indian textile and apparel industry, accounting for over a third of the domestic market and roughly half of the total textile and apparel industry. In recent years, the Indian domestic market has outperformed the world’s top textile and clothing consumption countries, such as the European Union and the United States, with a strong CAGR of 10%. In India, the growth of the middle and lower middle classes, combined with increased disposable income, has resulted in a steady demand for textiles and garments. This trend is projected to continue in the future, with the domestic textile and apparel market in India expected to develop at a CAGR of 12%.

GLOBAL MARKET OUTLOOK:

Textile and apparel trade is predicted to rise at a CAGR of 3.4 percent over the next five years. The present worldwide apparel market is valued at $1.7 trillion, accounting for about 2% of global GDP of $73.5 trillion. Apparel consumption in the top eight economies accounts for over 70% of worldwide consumption. With a combined share of nearly 23%, all four BRIC countries appear among the top markets. The combined apparel consumption of the United States and the European Union is 40%, despite the fact that they only account for 11% of global population, signifying an extremely high level of per capita expenditure on apparel (PEAP) in comparison to the rest of the world. An increase in developing countries’ disposable income would mean that garment consumption would expand faster than economic growth in an emerging or developing market. Based on the expected GDP growth rate and its relationship to the growth of the apparel market. Brands are focusing on lowering production costs, and as a result, more and more sub-contracts are being awarded to textile manufacturers in developing nations such as China, India, Bangladesh, and others. In some parts of Europe and the United States of America, this has resulted in job losses. Working conditions have also changed as a result of the shift from developed to developing countries.

TOP PLAYERS WORLDWIDE:

• Reliance Industries
• Tjx Companies
• Lululemon Athletica
• Shenzhou International Group Holdings
• Nike
• Gucci
• Adidas
• Louis Vuitton
• Christian Dior
• Fast Retailing
• H&M
• Zara