Textile global market forecast

Industry News

According to the report “Textile Global Market Report 2021: COVID-19 Impact and Recovery to 2030” by ResearchAndMarkets.com, the global textile market is expected to grow from $594.61 billion in 2020 to $654.57 billion in 2021 at a compound annual growth rate (CAGR) of 10.1%.

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities that resulted in operational challenges.

In the report, the textile market consists of sales of textiles by entities (organizations, sole traders and partnerships) that produce fiber, yarn, threads, carpets, rugs, linens and other textile products. The market is expected to reach $821.87 billion in 2025 at a CAGR of 6%.