The global knitwear market is projected to be valued at US$ 998.6 Billion by 2031, Surge in understanding about and increase in adoption of eco-friendly and natural products is fueling sales in the market
Wilmington, Delaware, United States, July 04, 2022 (GLOBE NEWSWIRE) -- The global knitwear market is estimated to register growth at a CAGR of 5.6% during the forecast period from 2022 to 2031, according to a research report by Transparency Market Research Inc.
The TMR report shares insights on key aspects of the global knitwear market including growth drivers, demand-supply ratio, growth restraints, challenges, best knitwear companies, and emerging trends in the market.
Players operating in the global knitwear market are increasing the use of eco-friendly and natural materials in their products owing to increase in consumers inclination toward the use of sustainable products. Such efforts are fueling the sales growth in the knitwear market. Moreover, major market players are utilizing high-technology and innovative knitting machines in order to develop products according to the current market trends. Such efforts of knitwear manufacturers are resulting into increased revenue growth in the knitwear market.
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Knitwear Market: Key Findings
Knitwear materials are gaining traction owing to their different advantages such as high absorption capacity, good elasticity in comparison with woven fabrics, and anti-wrinkle nature. As a result, there has been rise in the use of branded knitwear products across the globe. The demand for different 3D-knitted garments is being increasing in the recent years owing to a rise in the popularity of 3D software, which assists in generating virtual images on clothing and saves energy, money, and time, notes a TMR study on the knitwear market.
The use of high-performance and lightweight clothing is being rising in the recent years. As a result, the sales of different types of knitwear manufactured using synthetic, blended, and natural materials is being increasing. This factor, in turn, is boosting the demand avenues in the knitwear market. Moreover, the popularity of knitwear products is being rising owing to their chlorine resistance and improved breathability. This aside, these products are have better durable materials and anti-tear. These factors are resulting into profitable prospects in the knitwear market.
The use of knitted fabric has been growing in denim clothing as consumers are inclining toward the use of softer material in clothing with high compression, flexibility, and soft wear, according to analysts of a TMR study on the knitwear market. These factors are leading to profitable prospects for knitwear manufacturing services providers across the globe. Hence, the global knitwear market is prognosticated to gain a valuation of US$ 998.6 Bn by 2031.
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Knitwear Market: Growth Boosters
Increase in the use of knitted sportswear across the globe is fueling the sales growth in the knitwear market
Surge in the demand for lightweight and high-performance wear is resulting into the rise of knitwear industry
Knitwear Market: Regional Analysis
The knitwear market in Asia Pacific is estimated to gain sizable business opportunities during the forecast period owing to rise in the product demand in regional nations including Japan, India, and China
The market is prognosticated to attract profitable avenues in Europe and North America owing to rise in the popularity of knitwear among regional consumers and celebrities
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Knitwear Market: Key Players
Some of the key players profiled in the report are:
Gildan Activewear Inc.
Loro Piana S.p.A.
Marks and Spencer plc.
Ralph Lauren Corporation
The Lacoste Group
Lyle & Scott
Uniqlo co., Ltd.
The Nautical Company (UK) Ltd
YOOX NET-A-PORTER GROUP S.P.A.
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Knitwear Market Segmentation
T-Shirts & Shirts
Sweaters & Jackets
Sweatshirts & Hoodies
Shorts & Trousers
Evening Dresses, Suits, & Leggings
Other Accessories (Cap, Scarves, Gloves, Socks, etc.)
Company Owned Websites
Other Retail Stores
Middle East & Africa
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