Textile Market Size, Share, Growth Analysis, By Raw-material(Cotton, Chemical, Wool, Silk), By Product(Natural fibers, Polyesters, Nylon, and Others), By Application(Household, Technical, Fashion & Clothing, and Others), By Region - Industry Forecast 2024-2031

Global Textile Market size was valued at USD 1.69 billion in 2022 and is poised to grow from USD 1.82 billion in 2023 to USD 3.27 billion by 2031, growing at a CAGR of 7.60% during the forecast period (2024-2031).

Through tactics like geographic expansions and mergers and acquisitions, the market for textile has seen a rising trend. Through numerous government trade agreements, collaborations with e-commerce websites like Amazon, Flipkart, eBay, and others, businesses are attempting to boost their sales. 'BSL Limited', 'INVISTA S.R.L.', 'Lu Thai Textile Co., Ltd.', 'Paramount Textile Limited', 'Paulo de Oliveira, S.A.', 'Successori REDA S.p.A.', 'Shandong Jining Ruyi Woolen Textile Co., Ltd.', 'Shandong Demian Incorporated Company', 'Shijiazhuang Changshan Textile Co., Ltd', 'Weiqiao Textile Company Limited', 'DBL Group', 'B.D. Textile Mills Pvt. Ltd.', 'IBENA Inc.', 'Heytex Bramsche GmbH', 'Bahariye AS', 'Fratelli Balli S.p.A.', 'Ä°pekiş Mensucat Türk A.Ş', 'Lakhmi Woollen Mills', 'Wilh. Wülfing GmbH & Co. KG', 'Lanificio F.lli Cerruti', 'Özlem Kumaş, Ltd.', 'Trabaldo Togna S.p.A.', 'Yünsa Yünlü Sanayi ve Ticaret A.Ş.', 'Xinhui Woollen Textile Co., Ltd.', 'O'Formula Co., Ltd.', 'Wuxi Xiexin Group Co., Ltd.', 'The Bombay Dyeing & Mfg. Co., Ltd', 'Huafu Top Dyed Melange Yarn Co., Ltd.', 'Mayur Fabrics', 'Solvay S.A.', 'Sinopec Yizheng Chemical Fibre Company Limited', 'Li & Fung Group', 'JCT Limited'

The increasing global population and rapid urbanization are driving the demand for textiles. As more people move to urban areas, the need for clothing, home textiles, and other textile products increases, stimulating market growth.

Sustainable and Eco-friendly Textiles: There is a growing demand for sustainable and eco-friendly textiles driven by increasing consumer awareness and concerns about the environmental impact of the industry. Consumers are seeking textiles made from organic fibers, recycled materials, and low-impact dyes. Manufacturers are responding by adopting sustainable practices, implementing recycling initiatives, and offering eco-friendly textile options.

Asia Pacific held the largest market share (53.41%) in 2023 as a result of the increasing sales of apparel as well as clothing items. Due to the expanding population, it is expected that the region would continue to grow strongly, with a compound annual growth rate of 9.7% from 2024 to 2031. The enormous number of shoppers who are making apparel and accessory purchases on online stores in nations that are developing is another factor driving the growth of the global textiles business.