10 Fascinating Textiles & Apparel Industry Facts

The textiles and apparel industry is a major 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 10 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. Global womenswear is expected to be valued $773 billion in 2018.
  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 world’s fashion market is concentrated in Europe, the USA, China and Japan.

Ready for fast, secure funding now? Paragon has been funding the textile industry for over two decades. To discuss our Non Recourse funding and the Safety Net it can give your business, please contact our National Sales Manager, Chris Curtin via email or toll-free at 888-400-5931 ext 1.

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