Market Size of the Global Textile and Apparel Industry: 2016 to 2021/2022

Textile Mills

The textile mills market primarily includes yarns and fabrics. The market size is estimated based on the value of domestic production plus imports minus exports, all valued at manufacturer prices.

The value of the global textile mills market totaled $748.1 billion in 2016 (around 83.7% were fabrics and 16.3% were yarns), up 3.5% from a year earlier. The compound annual growth rate of the market was 2.7% between 2012 and 2015. The Asia-Pacific region accounted for 59.6% of the global textile mills market value in 2016 (up from 54.6% in 2015), Europe and the United States accounted for a further 19.1% and 10.8 of the market respectively.

The global textile mills market is forecast to reach $961.0 billion in value in 2021, an increase of 28.5% since 2016. The compound annual growth rate of the market between 2016 and 2021 is forecast to be 5.1%.

Apparel manufacturing market

The apparel manufacturing market covers all clothing except leather, footwear and knitted items as well as other technical, household, and made-up products. The market size is estimated based on the value of domestic production plus imports minus exports, all valued at manufacturer prices.

The value of the global apparel manufacturing market totaled $785.9 billion in 2016, up 3.3% from a year earlier. The compound annual growth rate of the market was 4.4% between 2012 and 2016. The Asia-Pacific region accounted for 61% of the market value in 2016 and Europe accounted for a further 15.2% of the market.

The global apparel manufacturing market is forecast to reach $992 billion in value in 2021, an increase of 26.2% since 2016. The compound annual growth rate of the market during the period of 2016 and 2021 is forecast to be 4.8%.

Apparel retail market

The apparel retail industry consists of the sale of all menswear, womenswear and childrenswear. The market value is calculated at retail selling price (RSP), and includes all taxes and duties.

The value of the global apparel retail market totaled $1,414.1 billion in 2017 (52.6% womenswear, 31.3% menswear and 16.1% childrenswear), up 4.9% from a year earlier. The compound annual growth rate of the market was 4.4% between 2013 and 2017. The Asia-Pacific region accounted for 37.1% of the global apparel retail market in 2017 (up from 36.8% in 2015), followed by followed by Europe (28.5%) and the United States (23.6%).

The global apparel retail market is forecast to reach $1,834 billion in value in 2022, an increase of 29.7% since 2017. The compound annual growth rate of the market between 2017 and 2022 is forecast to be 5.3%.

Data source: MarketLine (2018)

Author: Sheng Lu

Professor @ University of Delaware

16 thoughts on “Market Size of the Global Textile and Apparel Industry: 2016 to 2021/2022”

  1. It does not surprise me that there is still immense amounts of growth expected in 2022, but a 27.9% increase does shock me because the apparel industry is already such a global market. It makes me wonder if the raising population has anything to do with this. It also raises the question of which LDC’s will start to increase their production amounts, as with such a large increase there would need to be more outsourcing options available.

  2. This article has been very informative on the market value of textile products. The continuous growth of the market is an interesting section. It got me thinking of the factors that has and continues to encourage growth of the apparel market. One factor that came to my mind is how the global market had grown. Globalization impacts supply of products. Most textile industries have been opened in different parts of the world to encourage international trading and to meet the ever increasing demand from these products. Fashion is a trending topic among people globally. Everyone wants to be trendy, meaning producers are pressured to be innovative. As a result, the market grows to meet the demand. Lastly, the growing population is another factor in the industry. High population growth has encouraged more production of textile and apparel products. Most countries have also joined trade Unions including WTO which helps countries resolve trade disputes and carry trading smoothly through trade agreements.

  3. After reading this article, it is apparent that Globalization as well as the factor production theory are what’s causing the increases in the global manufacturing market. It is viewed that some countries are abundant with capital and have a comparative advantage in making capital intensive products, while some countries that are abundant with labor have a comparative advantage in making labor intensive products. With this being said, a country should produce and export products intensive in using the production factor abundant in that country. This theory supports that all countries can end up consuming more products than in the absence of trade. developing countries have a comparative advantage in producing clothing whereas US has comparative advantages in making more capital and technological advancements. I believe that in return, it will benefit from using their limited resources that are available. This has been seen as the article explained that “The global apparel retail market is forecast to reach $1,834 billion in value in 2022, an increase of 29.7% since 2017.” With this upward trend it could be understood that the global textile and apparel industry is essential. The U.S. needs to maintain its relationships with other countries and continue being a top exporter as well as importing yarns and fabrics from other countries so we can continue the growth in the market.

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