The global apparel market
The global apparel market (textile and garment industry) is estimated to grow from 1.5 trillion USD to 2.25 trillion USD by 2025, this is a strong indicator showing that the demand for apparel production is steadily increasing with some key apparel markets being China, the US, Japan, etc. Among these top-performing markets, VF Corporation PVH and Hanes are the largest apparel companies by revenue worldwide.
However, with this increasing demand for apparel, what does the textile production number look like? In this article, we will go over some of the biggest textile export countries and the highlights from each mentioned country.
1. China
The textile industry of China garnered an export turnover of $154 billion in 2020 (according to Statista). There are a few key factors that move the industry forward in such a fast pace: low-cost, raw material quality, accessibility of labor, a large amount of ready-to-develop land, and advanced technology and machinery.
With the presence of such pristine conditions for textile industries to flourish, China is amongst the top three cotton producers worldwide and the output volume accounts for more than half of the global textile and garment GDP contribution.
2. EU
Coming in the second-largest textile export country or countries are the European Union, among the EU members, Germany, Italy, and Spain are all big contributors to EU’s export volume, with Germany bringing in 38,94 billion (from Statista), Italy with 12,94 billion (from Trading Economics) and Spain with around 15 billion (from Eurostat). Germany is one of the biggest exporters of knitted cloth and synthetic yarn, while Italy specializes in producing a large range of E-textile as well as technical wear.
3. Vietnam
It is undeniable that Vietnam has been an honorable mention in terms of ‘textile export giants’ in the past and recently, this ever-growing country has only gotten stronger.
In 2020, Vietnam has an approximated export value of 35.2 billion USD (from Statista), which is more than Italy and Spain combined.
Although Vietnam saw a slight decrease compared to 2019’s 39 billion USD due to COVID, the quick development of Vietnam and the diversity of exported textile products strongly point towards a promising bounce-back and growth. With the recent fluctuation of costs in factory and business maintenance in China, many big apparel manufacturers have decided to relocate from inland China to Vietnam. This is to ensure low-cost production while maintaining the quality of factory facilities and environment, and a healthy relationship with China.
These countries along with others are the biggest pushing force of the textile and garment market across the world. However, what is true today may not be tomorrow, the ever-changing nature of the garment industry signifies constant replacement of ‘top 3’ or ‘top 10’.
Either way, these major players are still some of the most influential in the market, the future of textile is looking promising and VICO Logistics is well prepared for it.
If you understand how VICO Logistics can help you succeed in the textile and garment industry; you would’ve wished you had started using our service earlier. Contact us, let us know how we can help.
Want to know more?
>> Textile And Garment Industry’s Global Supply Chain
>> Forecast Of The Textile And Garments Industry In Vietnam 2021-2022
