Indian Textile and Apparel Market to Reach US$ 592.7 Billion by 2032, Fueled by Changing Consumer Purchasing Patterns

February 27, 2023 | Retail

IMARC Group’s latest report, titled “Indian Textile and Apparel Market Report by Raw Material (Natural Fibres, Man-Made Fibres), Application (Clothing Textiles, Technical Textiles, Fashion Textiles, Home-Décor Textiles, and Other Textiles), Product Type (Yarn, Fabric, Fibre, and Others), and State 2024-2032,” finds that the Indian textile and apparel market size reached US$ 197.2 Billion in 2023. Textiles are woven fabrics produced using plant- or animal-based materials, including cotton, silk, jute, wool, and polyester. In contrast, apparels refer to innerwear and outerwear worn by individuals to protect, adorn, and cover their bodies. They are usually manufactured from comfortable and breathable fabric, fibers, and yarn obtained from natural and synthetic sources. These materials are widely used to fabricate clothing, upholstery, and other accessories. Nowadays, textiles and apparels are commonly available in a diverse range of materials and colors across the country. 

Indian Textile and Apparel Market Trends:

In India, the changing consumer purchasing patterns have led to a substantial shift from need-based clothing toward aspiration-based clothing. This, along with the emerging fast-fashion trend, especially among the young generation, represents the primary factor driving the market growth. Moreover, India is the largest producer of jute and cotton and the second largest producer of silk. As a result, the abundant availability of raw materials, cheap labor costs and comparatively lower costs of manufacturing textiles and apparel is positively influencing the market growth. In addition, the Government of India is introducing favorable initiatives and making heavy investments under the Scheme for Integrated Textile Parks (SITP) and the Technology Upgradation Fund Scheme (TUFS) for training the workforce and encouraging more private funding in the textile and apparel sector. In line with this, the increasing adoption of eco-friendly enzyme-based treatment processes in textile production by leading manufacturers has fueled the market growth. Furthermore, significant expansion in the e-commerce industry and the surging popularity of online retailing among consumers due to multiple options, attractive offers, ease of shopping, and hassle-free return policies have augmented product demand. Other factors, including the escalating demand for premium apparel and home textiles, rising consumer spending on clothing and footwear, rapid urbanization, improving lifestyles, and elevating income levels, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 592.7 Billion by 2032, growing at a CAGR of 12.6% during 2024-2032. 

Market Summary:  

  • On the basis of the raw material, the market has been bifurcated into natural and man-made fibres. Currently, natural fibres exhibit a clear dominance in the market. 
  • Based on the application, the market has been classified into clothing, technical, fashion, home-décor, and other textiles. Amongst these, clothing textiles represent the largest market segment.
  • The market has been segregated based on the product type into yarn, fabric, fibre, and others. At present, yarn accounts for the majority of the market share.
  • State-wise, Maharashtra holds the leading position in the market. Other major regions include Uttar Pradesh, Tamil Nadu, Gujarat, Karnataka, and others.
  • The competitive landscape of the market has also been examined, with some of the key players being Welspun Group, Vardhman Group, Alok Industries Limited, Raymond limited, Bombay Dyeing, and Garden Silk Mills Limited. 

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Application, Raw Material, Product Type, State
States Covered Maharashtra, Uttar Pradesh, Tamil Nadu, Gujarat, Karnataka, Others
Companies Covered Welspun Group, Vardhman Group, Alok Industries Limited, Raymond Limited, Bombay Dyeing and Garden Silk Mills Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Indian Textile and Apparel Market to Reach US$ 592.7 Billion by 2032, Fueled by Changing Consumer Purchasing Patterns
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