Global fabrics market booms as e-commerce, tech drive up growth

The fabrics market is on a roll, reaching $123.42 billion in 2024, up from $116.67 billion in 2023, report by ResearchAndMarkets. This 5.8 per cent growth is fueled by strong emerging economies, a car industry hungry for textiles, and rising demand for synthetic fibers.

Looking ahead, the market is expected to keep moving north, reaching $148.78 billion by 2028. This growth is driven by the rise of online shopping, the ever-popular sportswear trend, and a growing global population. Technology also plays a role, with advancements in areas like AI and robotics poised to further transform fabric manufacturing.

E-commerce is a major game changer. Manufacturers can now tap into a wider customer base, expanding their reach beyond traditional geographic limitations. This is especially true in countries like India, where online platforms have given traditional garment makers a national audience.

The demand for home furnishing is another bright spot for the fabrics market. Fabrics like cotton and polyester are essential components in home decor, adding color, texture, and personality to our living spaces. As people increasingly prioritize creating personalized home environments, the demand for fabrics is likely to rise.

Innovation is another key driver. Smart fabrics, which can interact with their surroundings, are gaining traction in various sectors like fashion, healthcare, and sports. This opens up exciting possibilities for the future of textiles.

Sustainability is also a focus, with major companies prioritizing natural fabrics like cotton and wool. The market for recycled fabrics is growing, with companies like Camira leading the charge with innovative recycled wool products.

The Asia-Pacific region currently dominates the fabrics market, followed by Western Europe. As the global market expands, expect to see continued innovation and a growing focus on e-commerce, smart fabrics, and sustainability.