Home / Knowledge / News / Apparel/Garments / China and India to be top apparel markets by 2025: Report
China and India to be top apparel markets by 2025: Report
03
Aug '13
China and India are expected to be the major growth centers for apparel consumption by 2025, and the combined size of the Chinese and Indian apparel markets will become bigger than that of US and European Union (EU), according to a recent report.
 
“The combined apparel market size of China and India will become US$ 740 billion by 2025, and is expected to surpass the combined market size of US and Europe, which will be US$ 725 billion in 2025,” states ‘Road to 2025: Textile and apparel sector report’, released by Wazir management consultants.
 
The present apparel market size of China and India are estimated to be US$ 150 billion and US$ 45 billion, respectively. Both markets have shown robust growth, despite global uncertainties and slackened demand, according to the report. 
 
From 2007 to 2012, the Chinese market posted an annualized growth of 15% whereas the Indian market registered a somewhat lower growth of 12%.
 
However, both the markets have performed better than the other major consumption regions (US, EU and Japan) where the economic conditions led to lower growth in demand.
 
“Asia has already emerged as the largest manufacturer-supplier hub for textile and apparel products to the world, and the region is on the verge of entering into a new phase wherein its own consumption of textile and apparel products would become large,” the report states.
 
According to the report, the key reasons for the apparel consumption in the two countries to grow are high growth of economy and consumer income, market development supported by expansion of domestic brands, which have the bandwidth and exposure to go deep into the markets, and high growth of online retail in these countries.
 
The report also suggests that the consumption level in the countries would grow, as the Chinese consumer’s changing preference to buy more for fashion than replacement purpose would increase and the Indian consumer’s growing exposure to organized retail and branded merchandise would also increase.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Jan 2021

US detains cotton products from China's XUAR from Jan 13

US Customs and Border Protection (CBP) recently announced it will...

Pic: Christopher & Banks Corporation

Retail | On 15th Jan 2021

CBKC in US voluntarily files for bankruptcy protection

US specialty women's apparel retailer Christopher & Banks Corporation ...

Pic: Shutterstock

Textiles | On 15th Jan 2021

Hanoi to allocate more than $41 million to support SMEs

Hanoi will allocate VND957 billion (more than $41 million) to assist...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Francesca Polato,

Francesca Polato

Berto Industria Tessile was founded in Bovolenta, a small town in the...

Subrata Ghosh,

Subrata Ghosh

Nandan Denim, part of leading conglomerate Chiripal Group, commenced its...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search