North America Textile Market Growth 2024, Rising Trends, Demand, Industry Share, Key Players, Revenue, Challenges, Future Opportunities and Forecast till 2033: SPER Market Research
The textile industry encompasses the design, production, and distribution of yarn, fabric, apparel, and accessories, utilizing both natural and synthetic raw materials, including chemicals. As a vital contributor to national economies, the textile and garment sectors hold significant roles worldwide. The market for textile clothing is particularly driven by younger generations’ growing awareness of fashion trends. Additionally, consumer interest in eco-friendly, sustainable fashion, an increase in online apparel spending, and a rising willingness to pay for premium-quality clothing are fueling growth in the industry.
According to SPER Market Research, the “North America Textile Market Size – By Application, By Material Type, By Process – Regional Outlook, Competitive Strategies, and Segment Forecast to 2033” report estimates that the North America Textile Market will reach USD 141.5 billion by 2033, with a CAGR of 4.08%.
Market Drivers: North America is a leader in cloud-based recruitment solutions for the textile and garment industry, with European markets closely following, marking a 3.6% annual increase in cloud roles. Favorable weather and abundant water resources across major cotton-producing states have supported a successful harvest. Strong domestic and global demand for cotton, paired with advantageous fiber prices, boosts production. However, limited access to high-quality GMO seeds and necessary inputs like agrochemicals and organic fertilizers hampers full-scale production. Mexico’s textile industry heavily relies on high-grade U.S. cotton, with imports from Texas expected to rise.
Challenges: The textile and apparel sector has seen significant contraction over recent decades due to factors like automation, competition from imports, and the United States’ shifting focus toward higher-value industries. The sector also faces multifaceted challenges, including social, environmental, and economic factors. Economic concerns stem from volatile raw material costs, shifting consumer preferences, and fierce competition from low-cost suppliers in emerging markets. The globalized supply chain exacerbates these issues, impacting employment in traditional textile-producing regions. Additionally, the industry contends with environmental issues, including resource depletion, pollution, and waste.
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Market Impact: Global lockdowns significantly disrupted the textile supply chain, particularly in the fashion and apparel sector, as retail closures and reduced consumer spending led to sales and revenue declines. Despite these setbacks, the industry also witnessed new opportunities for innovation and adaptation.
Key Players: Some leading players in the North American textile market include American Eagle Outfitters Inc., DuPont de Nemours Inc., Elevate Textiles Inc., Guilford Mills Inc., Hennes & Mauritz AB, Levi Strauss & Co., Mohawk Industries Inc., and Nike Inc.
Market Segmentation:
By Application: Clothing, Industrial/Technical Applications, Household Applications
By Material Type: Cotton, Jute, Silk, Synthetics, Wool
By Process: Woven, Non-woven
By Region: Includes data from the United States, Canada, and Mexico.
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North America Textile Market Growth
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