Global Overview of Textile and Leather Products Industry

August 2021

The briefing examines how the textile and leather products industry performs globally and in the largest countries in terms of textile and leather products output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries globally

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This report comes in PPT.

Examining four trends shaping the textile and leather products industry

Sustainable textiles

Rising consumer environmental concerns and expanding middle class will continue pushing for more sustainable solutions in textile manufacturing. Recycling of used textile products, innovative production processes and alternative fibres will play a vital role.

Innovation and technology

While technological advancements have long been eyed by textile manufacturers as a way to cut costs, the push for sustainability and rising additional benefits for consumers will add extra incentives to seek latest innovations. Employment of AI to design and customise apparel, 3D printing and sustainable man-made fibres are among the key industry-changing innovations.

Production reshoring

While textile companies have been relocating their factories out of China for quite some time now, driven out by rising labour costs and intensifying trade tensions with Western partners, COVID-19-caused supply disruptions fuelled the reshoring process further. Brands seek to produce closer to their end-consumers, especially as expanding online shopping amplifies the need for swift and timely logistics.

Online shopping

Online shopping became a necessity during COVID-19 lockdowns in many countries, and is likely to maintain solid momentum as both consumers and brands enjoy closer communication, improving online user experience and D2C segment expansion.

Examining four trends shaping the textile and leather products industry
COVID-19: Impact on textile and leather products
Textile and leather products among the most COVID-19-affected industries
Production value to fully recover in 2022
China remains key textile producer despite intensifying reshoring
Rising wages challenge industry’s profitability
China remains leading global textile exporter, followed by emerging Asian markets
Elevated trade tensions continue reducing Chinese imports into the US and Europe
Rising Chinese labour costs drive robust expansion of emerging Asian textile markets
VF Corp maintains leading position in global apparel and footwear market
Total number of companies decline due to consolidation and production reshoring
Despite consolidation attempts, the industry remains highly unconcentrated
Southeast Asia and Turkey to drive industry’s value growth
Southeast Asia and some European countries to see swift recovery from COVID-19 shock
Key future trends shaping the global industry
China : Future growth to be subdued
Despite recovering domestic consumption, shrinking exports will drag down industry growth
India : Industry sees swift recovery after COVID-19 shock
Textile recovery to be driven by PPE exports, government support and private consumption
Bangladesh : Industry remains resilient to COVID-19 shock
Bangladesh to continue expanding on the back of low labour costs
USA : Recovery to be supported by federal aid and rebounding household consumption
Despite federal subsidies to aid recovery, further growth will be mild
Italy : Industry to recover on the back of rising consumer income
Recovering domestic consumption to compensate for stagnating apparel exports
Turkey : Textile exports remain resilient to COVID-19 shock
Turkey to benefit from textile production reshoring
Vietnam : Industry remains resilient to COVID-19 shock, supported by solid exports
Low labour costs to continue driving textile export expansion
Thailand : Textile production to slowly pick up following COVID-19-caused contraction
Recovering exports to compensate for sluggish domestic consumption
Brazil : Industry picks up from COVID-19 shock
While COVID-19 limits recovery, private and B2B consumption is set to pick up
U K : Industry sees rather swift recovery from COVID-19 downturn
Industry to pick up on the back of recovering consumption, yet exports may face new tariffs


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