Report ID: SQMIG25K2087
Report ID:
SQMIG25K2087 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
65 |
Figures:
75
In the year 2022, the Asia Pacific region asserted its dominance within the industry, capturing a considerable share of 35.7% of the total revenue. This can be attributed to the region's robust textile industry and established manufacturers, coupled with the flourishing infrastructure for retailers, collectively bolstering the region's growth trajectory. Notably, consumers in emerging economies such as China and India exhibit a preference for local e-commerce platforms like Tmall in China and Flipkart & Amazon in India for purchasing these products. The allure lies in the convenience of free home delivery and hassle-free return policies offered by these platforms.
Anticipations point to North America emerging as the fastest-growing regional market throughout the projected period. The burgeoning apparel and textile sector is slated to be a pivotal driver of the region's growth. As per the National Council of Textile Organization, the U.S. textile and apparel market garnered a valuation of USD 65.2 billion in terms of industry shipment value. The United States holds a prominent position within North America, particularly concerning research and development expenditures on textile and apparel materials, encompassing innovations like conductive fabric with antistatic properties, antimicrobial fibers, and electronic textiles.
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Report ID: SQMIG25K2087