In the present day, it takes more efforts not only to survive in the market but also to offer new products that are manifold in nature; purely aesthetic and also a need of the hour. Many of the global apparel giants are now eyeing the knitwear market with interest.

People are inspired by the diverse traditions getting revived, and knitwear is not an exemption. Today's couture refers not only to beautiful fabrics but also the capability of performing up to the standards. Knitted fabrics that are generally used in clothing that requires changes in shape play a major role in the apparel sector. Advancements in knitting technology have resulted in the rapid transformation of the industry. With improved technology and minimization of limitations such as torque in knit apparels and shrinkage, the global market for knitwear is evolving constantly.

Industry analysts have estimated that the market for knitwear is likely to grow and reach 20.3 billion USD by 2015. Desire for a trendy lifestyle, media awareness, and an increase in the amount of disposable income have invigorated the growth of the industry. The current market demand is stressed with shape and structure-enhancing products and competitive pricing. There is fierce competition between manufacturers and marketers to strike the best bargain and offer promotional discounts to consumers. Cut-throat competition has made manufacturers offer multipack products at throwaway prices.

The market for knitwear is segmented into pantyhose, socks, opaques, sheers, stockings, leggings, and many others. Elasticity of the knitted fabric gives a more form-fitting nature to it. Technology is a major factor influencing the knitwear business. Manufacturers are replacing their old machineries with sophisticated and upgraded ones. Mechanical knitting machines have given way to electronic knitting machines that provide great speed and greater production.

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 unknown segments such as technical textile, for instance; products such as fishnet, fruit-net, shade net, and composite products.

Favorable factors for the knitting industry:

The capital investment required for starting a new knitting unit is lesser comparatively over other fabric-making units.Time taken for the completion of knitted garments is lesser.Knitting is flexible than weaving in a way that styles and designs can be modified with unparalleled rapidity. Keeping pace with the quick changes in fashion becomes possible.

Knitted apparels make a perfect choice for today's generation who are more focused on wrinkle free, and easy caring fabrics.

Global Market for Knitwear:

Europe is the biggest market for knitted garments both in terms of value, and volume sales. North America is also considered as a prime market for knitted apparels. Recession and the resulting slowdown caused a situation of tight budget in these markets. However, Europe and North American markets continue to dominate the global knitwear market with a 65% share. Asia Pacific is currently growing to be a promising market for the same. Golden Lady SpA, Kayser-Roth, LLC, Hanesbrands, Inc, HCI Direct Inc, LVMH, Donna Karan International, Wolford, Gold Toe-Moretz, Tefron USA, Grupo Synkro, Triumph Apparel Corporation, and CSP International SpA are a few players dominating the global knitwear market.

Appealing knitwears are available in the market ranging from graceful, classic trends to fascinating glitzy styles to suit the need of every individual. Current market for knitwear is inspiring many apparel brands, and institutional buyers, triggering new ideas, and creating new opportunities.

References:

    Stitch Times, January 2011.
    sourcing.indiamart.com
    engineeringtextilesforindia.blogspot.com
    knittingindustry.com