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10 Fascinating Textiles & Apparel Industry Facts

Textile and Apparel Industry

Fascinating Textiles & Apparel Industry Facts

The textiles and apparel industry is a significant player in the global marketplace worth several trillion dollars. With such large amounts of capital flowing through the textile and apparel industry, funding options such as non-recourse accounts receivable financing and purchase order funding are ideal.

Here are ten fascinating facts about the industry:

  1. The global textile and apparel industry, which includes fabrics, clothing, footwear, and many other manufactured goods, is currently worth nearly $3 trillion.
  2. The world childrenswear market is expected to reach beyond $266 billion in 2016, marking a 31 percent increase in five years.
  3. Global bridalwear is expected to be valued $66.6 billion by 2017.
  4. Global menswear is expected to be valued at $571 billion in 2018.
  5. By 2018, global womenswear is expected to be valued $773 billion.
  6. The global market for textiles made from organic cotton was over $16.7 billion in 2014.
  7. The US is the largest importer of garments in the world.
  8. Nearly 40% of apparel products sold in the US are imported from China.
  9. American households spend nearly $2,000 on apparel, footwear, and other textile-related products and services annually.
  10. The global fashion apparel industry represents nearly 2% of the world GDP. Nearly 75% of the world’s fashion market is concentrated in Europe, the USA, China, and Japan.

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