Market Overview The Europe textile industry was estimated to be around USD 180 billion in 2018, and it is projected to witness a CAGR of approximately 5. 5% during the forecast period, to reach approximately USD 250 billion by 2024.
New York, March 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Textile Industry - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865806/?utm_source=GNW
- Europe is home to hundreds of leading retailers and brands, internationally acclaimed designers, thousands of talented emerging designers, and forward-thinking entrepreneurs, researchers, and educators.
- The European textile and clothing sector is a SMEs based industry. Companies that have less than 50 employees account for over 90% of the workforce and produce almost 60% of the products.
- Clothing and textile are one of the most globalized industries, with the chain of production (wholesale and retail) of even just one product spanning dozens of stakeholders and many continents.
Scope of the Report
This report aims to provide a detailed analysis of the European textile industry. It focuses on market dynamics, technological trends, and insights on the various processes, materials, and application types. Also, it analyses the major players and the competitive landscape in the European textile industry.
Key Market Trends
Rise in the Demand for Organic Textiles and Fabrics
- The organic clothing is available in cotton, jute, silk, kapok, hemp, or wool. The demand for organic clothing is rising, as more and more consumers become concerned about the environment.
- According to the fourth annual Organic Exchange Farm and Fiber Report, organic cotton represents 1% of global cotton production.
- Countries like Germany, the United States, Switzerland, Spain, Belgium, etc., are among the world’s largest markets for organic clothing.
- Germany has traditionally led Europe’s demand for organic cotton, with mail-order companies accounting for the bulk of the sales in this category. German consumption levels have recently been surpassed by those in Switzerland.
- The European Textile sector is especially proactive in undertaking research work for the development of new and innovative products.
Rising Disposable Income and Changing Consumers’ Shopping Behavior
- Disposable personal income in the Euro Area increased to EUR 1,787 billion in the fourth quarter of 2018, from EUR 1,769 billion in the third quarter of 2018. Disposable personal income in the Euro Area averaged EUR 1,454 billion from 1999 until 2018, it had a record low of EUR 1,068 billion in the first quarter of 1999 and reached an all-time high of EUR 1,787 billion in the fourth quarter of 2018.
- Online shopping is still growing in importance, although take-up varies significantly by region and country. Recent surveys reveal that 43% of Europeans aged between 16 and 64 now shop online using a computer.
- More than 60% of Northern Europeans shop online using a computer, a figure that is 70% in Germany, Great Britain, and Sweden. In Southern Europe, around 40% of consumers shop online, while in the CEE the appetite for internet retail is lower still - just 20% of Russians and 11% of Hungarians shop online.
- This growth in disposable income and the increasing preference for online shopping are expected to drive the textile market in the region for the next few years.
The report covers the major players operating in the European textile industry. In terms of market share, the companies in the textile industry do not have considerable amount of market share as the market is highly competitive and fragmented.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05865806/?utm_source=GNW
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