Dublin, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The "Cut & Sew Apparel Manufacturing in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
The Cut and Sew Apparel Manufacturing industry in the United States has been experiencing long-term decline due to various factors. Here's an overview of the industry's current situation and trends:
Industry Overview:
- Declining Revenue: The industry has been in a state of decline for the long term, with revenue dropping at a Compound Annual Growth Rate (CAGR) of 3.1% over the past five years.
- Offshoring: Many manufacturers have moved their manufacturing operations to countries with lower wage requirements. This offshoring has contributed to import penetration and harmed domestic producers.
- Shift to Quality: To compete with low-cost imports, domestic manufacturers have shifted their product focus from low-cost apparel to premium clothing, emphasizing quality over price.
- High Import Competition: The industry faces intense price competition from imports produced in developing countries with lower labor costs, making it challenging for domestic manufacturers to compete based on price.
- Profit Constraints: Import competition and price pressures from the downstream retail sector have historically constrained profit margins in the industry.
Industry Activities:
- Industry manufacturers produce apparel for men, women, and children using purchased fabric.
- Activities also include purchasing raw materials, designing and preparing samples, arranging for apparel production from raw materials, and marketing finished apparel.
- This industry includes companies that operate their production facilities within the United States.
Outlook and Forecasts:
- The industry outlook remains challenging due to continued import competition and price pressures.
- Revenue dipped by 1.1% in 2023 alone, reflecting ongoing difficulties.
Competitive Landscape:
- The industry has a few key players, and market share concentration may be notable among these companies.
- Success factors in the industry include factors like cost structure, barriers to entry, and the ability to compete on quality.
Operating Conditions:
- Capital intensity, technology and systems, revenue volatility, and regulatory factors influence the industry's operating conditions.
- The industry may benefit from advancements in technology and production systems.
Key Statistics:
- Industry data and key ratios provide insights into the industry's financial performance and trends.
This report offers an overview of the Cut and Sew Apparel Manufacturing industry in the United States, highlighting the challenges it faces, the shift towards quality products, and the impact of import competition.
For more information about this report visit https://www.researchandmarkets.com/r/9qp1qc
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