Textile is a flexible material formed using various processes including weaving, knitting, crocheting, or felting. These materials find application for manufacturing a broad range of conventional as well as advanced finished goods used for bedding, kitchen, upholstery, construction, transportation, handbags, protective, medical, fashion, apparel, and clothing accessories.
Product innovation is expected to have a positive impact on the industry; for instance, the Runway of Dreams brand launched by apparel manufacturer Tommy Hilfiger in February 2016. Furthermore, a growing number of fashion retail outlets and supermarkets in developing economies, including China and India, owing to government support to promote investments is expected to increase the textiles demand in the near future.
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Global Textile market size will increase to 1237300 Million US$ by 2025, from 854200 Million US$ in 2018, at a CAGR of 4.7% during the forecast period.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Textile.