Global knitwear market is likely to grow and reach USD 20.3 billion by 2015. Desire for trendy lifestyle, media awareness, and an increase in the amount of disposable incomes, has invigorated the growth of the industry.
Current market demand is swamped with shape and structure enhancing products and competitive pricing. There is a fierce competition between the manufacturers and marketers to strike the best bargain and offer promotional discounts to consumers. Cut-throat competition has made manufacturers to offer multi-pack products at throwaway prices.
Developments in fine-gauge knitting, and advanced treatments such as digital printing, glossy foil prints, inkjet printing, flocking, and burn-outs have heated up the market. New knitting machines have opened up possibilities hitherto into unknown segments such as technical textile, for instance; products such as fishnet, fruit-net, shade net and composite products.
Europe and North American markets dominate the global knitwear sector with a 65% share. Asia Pacific is currently growing to be a promising market for the same.
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Fibre2fashion News Desk - India
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