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Global sales of knitted innerwear to swell by 2015
22
Mar '11
A new report by Global Industry Analysis (GIA) has predicted global sales of knitting innerwear and nightwear to reach US $70.8 billion in 2015.

As per the Business Strategy Report on global knitted innerwear and nightwear, changes in consumer lifestyles, increasing disposable income, innovation of textile fabrics and some other factors will contribute to high growth rate of this sector, says the report.

These products have great potential and its market demand is expected to maintain growth, says the report. In this segment, personal underclothing like seamless bra and panties will show the highest sales' growth rate in next few years. In this area, though the U.S. and Asia Pacific markets have shown great growth rate, Europe is still the largest market.

As per the report, the development of personal underclothing depends on fabric design, innovation and comfort up gradation. In the Western markets, demand of XL innerwear is on rise, but consumers still not consider them as products of necessity. Most of the consumers purchase innerwear's as and when they need them. They need to consider them as products of necessity.

In recent years, cutthroat competition at international level has led to lower prices and transfer of production centers too. South America, Central Europe and Asia have emerged as the new production centers and more and more manufacturers have moved to these destinations.

During the financial crisis, though most of the economies faced crisis, rapid economic growth in China, India, South Korea, Indonesia and Taiwan saved the Asia Pacific market. It helped them to emerge as new production centers too.

As per the report, knitted underwear market is already highly competitive and very wide. The financial crisis has narrowed the gap and the differences among markets have almost disappeared making it more competitive.

Fibre2fashion News Desk

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