Knitwear Market: Global Industry Analysis and Forecast (2023-2029)

Knitwear Market size was valued at US$ 105.45 Bn. in 2022 and it is expected to reach US$ 156.80 Bn. by 2029, at a CAGR of 5.83% through out the forecast period.
Knitwear Market Overview:
Knitting together threads such as wool or other fibers to produce fabric is used to make a lot of apparel. Knitwear is a sort of apparel that is suitable for everyday use. Seasonal and athletic apparel is also made from these textiles. Knitwear has become a wardrobe staple for both men and women. Knitwear is available in various styles on e-commerce platforms that may be worn with any outfit.To know about the Research Methodology :- Request Free Sample Report
Knitwear Market Dynamics:
People's rising disposable income, the availability of various product varieties, the growing number of sports activities such as swimming, yoga, aerobics, running, and others, and the rising demand for natural fiber made products are all factors that are driving the market growth however, the expansion of the e-commerce industry, as well as the prevalence of various manufacturers, will increase various prospects for the knitwear market to flourish.

Consumer interest in e-commerce and online buying has grown as the internet and cellphones have been more widely used. High-end brands and their whole range of apparel goods are now available on online marketplaces, giving them the possibility to expand. This also gives brands cutting-edge competition and encourages newcomers to enter the market.

Knitwear, on the other hand, appears to be a complicated and fragmented business. This is because lower-income individuals prefer to buy knitwear from local producers or factory stores. As a result, the risk of deception increases, and established companies face intense competition from local brands. This could limit the knitwear market's overall growth.

Fashion awareness, social media influence, and an increase in personal disposable money are all contributing to the knitwear market's growth. People nowadays have a variety of clothing for various hobbies, such as yoga pants, swimming suits, gym & workout shorts, and so on. Knitwear and other garments are also seeing a surge in demand as a result of this.

The widespread use of the internet and smartphones has raised consumer interest in e-commerce and online buying. The availability of high-end brands and their entire range of apparel products on internet retailers provide a growth opportunity for businesses. This creates cutting-edge competition for businesses and encourages new players to enter the market.

Knitwear appears to be a highly fragmented market. This is because lower-income individuals prefer to purchase knitwear from local producers or factory stores. As a result, the chances of duplicity rise, and local brands face stiff competition from established names. This could stifle the entire knitwear market's growth.

The demand for clothes gear has risen dramatically as a result of rising personal disposable income, changing lifestyles, and the growing influence of social media. The significant engagement of the younger generation in online purchasing, as well as their preference for elegant and high-end lifestyles, are driving the knitwear market forward. Natural-based knitwear is also gaining popularity as people become more conscious of biodegradable textiles and other materials.

This Knitwear market report covers recent developments, trade regulations, import-export analysis, business model, value chain optimization, market share, the impact of domestic and localized market players, and analyses opportunity of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, and more.
Knitwear Market Segment Analysis:
By Distribution Channel, the Online segment is expected to grow at a CAGR of 9% through the forecast period. Knitwear products, which are part of the fashion and apparel business, have seen a growth in online sales. Due to the increasing penetration of online knitwear sales in emerging economies such as Brazil, Russia, India, China, and South Africa, the selling of knitwear products through the internet channel is increasing (BRICS). Moreover, demand for knitwear items is being driven by a surge in online sales, increased smartphone penetration throughout emerging nations, an increase in the middle-class population with greater discretionary spending, and innovative and advanced e-commerce technology.By Consumer Group, the Men's component has the biggest market share and is expected to increase at a CAGR of 6.7% through the forecast period. Increase in usage of clothing and players introducing varieties in men segment. The Segment focuses on each application's current position and potential for substantial application value, market share, and growth valuation.
Knitwear Market Regional Insights:
North America is the world's second-largest market for knitted apparel. Due to the extended winter season and significant demand for warm apparel, this is the case. Because many designer labels have their headquarters in the United States, this region plays an important role in the expansion of the knitwear business.

China, Japan, India, Australia, and South Korea are all part of the Asia-Pacific area, which is expected to grow at a CAGR of 7.2% through the forecast period. The knitwear sector can look forward to a bright future in developing countries. This is attributable to an increase in per capita income and fashion knowledge. Clothing and accessory production is particularly cheap in these nations, thus brands tend to outsource their products to these countries' manufacturers.

The objective of the report is to present a comprehensive analysis of the Knitwear market to the stakeholders in the industry. The past and current status of the industry with the forecast market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Knitwear market dynamics, structure by analyzing the market segments and projecting the Knitwear market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Knitwear market make the report investor’s guide.
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Knitwear Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 105.45 Bn.


Forecast Period 2023 to 2029 CAGR:
5.83%
Market Size in 2029:
US $ 156.80 Bn.


 Segments Covered:
by Type
Innerwear
T-Shirts & Shirts
Sweaters & Jackets
Sweatshirts & Hoodies
Shorts & Trousers
Evening Dresses, Suits, & Leggings
Accessories


by Material
Natural
Synthetic
Blended


by Application
Outerwear
Innerwear
Sportswear
Others


by Consumer Group
Men
Women
Kids


by Distribution Channel
Offline
Online



Knitwear Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)a
Knitwear Market Key Players are:
1. Adidas AG
2. Gap Inc.
3. Gildan Activewear Inc.
4. Hackett Ltd
5. Abercrombie & Fitch Co.
6. Loro Piana S.P.A.
7. Marks and Spencer Group plc
8. Nike Inc.
9. Puma SE
10.Ralph Lauren Corporation
11.Lactose
12.The Nautical Company Ltd.
13.Fast Retailing Co., Ltd.
14.Victoria’s Secret
15.YOOX NET-A-PORTER GROUP

FAQ:

1] What segments are covered in the Knitwear Market report?
Ans. The segments covered in the Knitwear Market report are based on Type, Material, Application, Consumer Group, and Distribution Channel.

2] Which region is expected to hold the highest share in the Knitwear Market?
Ans. Asia Pacific Region is expected to hold the highest share in the Knitwear Market.

3] What is the market size of the Knitwear Market by 2029?
Ans. The market size of Knitwear Market by 2029 is US $ 156.80 Bn.

4] What is the forecast period for the Knitwear Market?
Ans. The Forecast period for Knitwear Market is 2023-2029.

5] What was the market size of the Knitwear Market in 2022?
Ans. The market size of Knitwear Market in 2022 was US $ 105.45 Bn.