Covina, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The clothes which are made by connecting wool and other type of thread into joined rows are Knitwear clothes. They are soft as compared to woven wear and are more comfortable to wear. The synthetic, natural and blended materials are used to make knitwear garments.
Growing popularity of knitted sportswear such as pants, t-shirts, socks, shorts, etc. has provided lucrative opportunities in target market growth. The beneficial properties such as it resist wrinkles, has good thermal insulation property has further driven the market growth. Furthermore, increased demand for high-performance and lightweight clothing is expected to fuel the demand for Knitwear Market growth over the forecast period.
Key Highlights:
- In November 2021, the National Institute of Fashion Technology graduate Muskan Soni launched new knitwear brand called as ‘Khajoor’ with its maiden collection of ‘Move’ featured with hand-knitted accessories and garments.
Analyst View:
Growing popularity of various types of knitwear owing to increasing trend of social media has fruitful the demand for target market growth. Further, launch of newest designs, patterns, styles, and trendy colors with asymmetric patchwork, letter pattern craft and Scandi folk style by manufacturers to strengthen knitwear market is likely to propel market growth.
Market Growth:
- Consumer Demand: Knitwear, including sweaters, cardigans, and other knitted clothing items, remains popular among consumers due to its comfort and versatility. As fashion trends evolve, designers and manufacturers continue to innovate with new styles and materials, which keeps consumer interest high.
- Sustainability: With increasing awareness of environmental issues, there is a growing demand for sustainable and eco-friendly fashion. Knitwear can be made from natural and recycled materials, contributing to its popularity in the sustainable fashion market.
- Technology Advancements: The knitwear industry has benefited from technological advancements, such as computerized knitting machines and 3D knitting technology, which allow for more efficient and precise production of knitwear items. These innovations can reduce production costs and improve quality.
- E-commerce: The rise of e-commerce has made it easier for consumers to shop for knitwear online, leading to increased sales and market reach for knitwear brands. Many knitwear manufacturers have expanded their online presence to cater to a broader customer base.
- Seasonal Demand: Knitwear is particularly popular during the fall and winter seasons. As global temperatures fluctuate, there is a growing need for lightweight, transitional knitwear items for year-round use, which can further boost sales.
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Report scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Product Type: Innerwear, T-Shirts and Shirts, Sweaters and Jackets, Sweatshirts and Hoodies, Shorts and Trousers, Evening Dresses, Suits and Leggings, and Accessories By Material Type : Natural, Synthetic and Blended By Consumer Group : Men, Women, and Kids By Distribution Channel : Online and Offline |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Knitwear Market trends:
- Sustainability: Sustainability continued to be a dominant trend in the fashion industry, including knitwear. Consumers were increasingly seeking eco-friendly and responsibly sourced knitwear items made from organic or recycled materials. Brands were focusing on reducing their environmental footprint by using sustainable production processes and promoting ethical labor practices.
- Innovation in Materials: Knitwear designers and manufacturers were experimenting with innovative materials such as organic cotton, Tencel, and even recycled fibers like PET bottles. These materials not only had environmental benefits but also offered improved performance and comfort.
- Circular Fashion: The concept of circular fashion was gaining traction, emphasizing the recycling and upcycling of knitwear items. Brands were exploring ways to extend the lifecycle of knitwear, reduce waste, and encourage consumers to repair and repurpose their knit garments.
- Minimalist Designs: Minimalism was a growing trend in knitwear. Consumers were showing an interest in simple, versatile, and timeless knitwear pieces that could be worn in various settings and paired with different outfits.
- Texture and Patterns: Textured and patterned knitwear, such as cable-knit sweaters and Fair Isle patterns, remained popular. These designs added visual interest to knitwear items and appealed to consumers seeking unique styles.
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