In the present day is 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 perform up to the standards. Knitted fabrics that are generally used in clothing that require changes in shape play a major role in the apparel sector. Advancements in knitting technology have resulted in rapid transformation of the industry. With improved technology, and minimization of limitations such as torque in knit apparels and shrinkage, global market for knitwear is evolving constantly.
Industry analysts have estimated that market for knitwear is likely to grow and reach 20.3 billion USD by 2015. Desire for trendy lifestyle, media awareness, and an increase in the amount of disposable income, have invigorated the growth of the industry. Current market demand is stressed 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 are to offer multipack products at throwaway prices.
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 into unknown segments such as technical textile, for instance; products such as fishnet, fruit-net, shade net and composite products.
Favorable factors for knitting industry: