Global Knitwear Market - Snapshot

There is a rise in demand for knitted sportswear or activewear across the globe. The activewear or sportswear segment of the knitwear market is expanding at a rapid pace, outpacing the overall market. For example, in the U.S., the per capita consumption of activewear or sportswear was 8.2 units in 2010. It has risen at a CAGR of 5.6% to reach 12.0 units in 2017, which is greater than the growth rate of the global knitwear market. There has been an increase in awareness about health, especially among the millennial population. Increased participation in activities such as yoga, running, swimming, aerobics, etc. is propelling demand for activewear. Moreover, increasing participation of women in sports activities is driving the global knitwear market.

knitwear market

Innerwear, t-shirts, and shirts hold more than 40.0% of the global knitwear market and are growing at a healthy rate. Innerwear, which is a major product in the knitwear market, has gradually changed from being a basic clothing requirement to a stylized undergarment providing style and comfort. Rise in demand for sensuous, stylish, and premium innerwear is boosting demand for branded innerwear across the globe. Women are major spenders in the innerwear market. Awareness about fashion, media, and health and rise in the number of women spenders with high disposable income are boosting the innerwear segment. T-shirts is another major product category. There is a rise in demand for T-shirts due to a rise in their formal use such as office wear on Fridays or casual days. Thus innerwear, T-shirts, and shirts are driving the knitwear market across the globe.

Although the market share of natural fabric is more, blended and synthetic fabric is growing at a faster rate than their natural counterpart. In the global knitwear market, a major portion of knitted apparel is made from natural fibers such as cotton, silk, and wool. Knitwear made of cotton is cozy, warm, and versatile in nature, making cotton the king among knitwear fabrics. Knitwear, such as sweaters and jackets, made of silk and blended silk keeps the body warm and is comfortable to wear. Merino wool fabric is used to make knitwear. It is obtained from merino sheep, originating in Spain. Merino knitwear is soft, comfortable, and stylish. Cashmere is another natural fabric used extensively to make knitwear.

There is a rising demand for natural, eco-friendly knitwear fabric across the word. For example “Tencel,” a natural fabric made from plant, are eco-friendly and are used to manufacture knitwear products. There is a rising demand to use natural fabric to manufacture knitwear due to their anti-wrinkle, high absorption capacity; besides they are biodegradable and eco-friendly in nature. For example, other than traditional natural fabrics such as cotton and wool, there is an increasing usage of plant based fabric such as lyocell. Lyocell fabric is currently branded as “Tencel” in the market which is used to make knitwear. Tencel fabric is biodegradable and eco-friendly with high absorption capacity. Compared to cotton knitwear, tencel knitwear wrinkles less and more easily absorbs body sweat. Activewear and sportswear made from tencel are more anti-bacterial and hygienic than cotton knitwear. All these factors are driving the demand for tencel fabric for making knitwear. This is likely to propel the global knitwear market.

The study provides a decisive view of the global knitwear market by segmenting it in terms of product type, material type, application, consumer group, and distribution channel. In terms of product type, knitwear are classified into innerwear, t-shirts & shirts, sweaters & jackets, sweatshirts & hoodies, shorts & trousers, evening dresses, suits, & leggings and accessories. Based on material type, the market is classified into natural, synthetic, and blended. On the basis of application, the market is segmented into outerwear, innerwear, sportswear and others. Based on consumer group, the market is segmented into men, women, and kids. Further on the basis of distribution channel, the market is segmented into online and offline.  

The report highlights major companies operating in the global knitwear market including Adidas AG, Gap Inc., Gildan Activewear Inc., Hackett Ltd, Abercrombie & Fitch Co., Loro Piana S.P.A., Marks and Spencer Group plc, Nike Inc., Puma SE, Ralph Lauren Corporation, Lactose, The Nautical Company (UK) Ltd., Fast Retailing Co., Ltd., Victoria’s Secret, and YOOX NET-A-PORTER GROUP. 

Global Knitwear Market: Overview

This report on the global knitwear market provides analysis for the period 2016–2026, wherein 2017 is the base year and the period from 2018 till 2026 is the forecast period. Data for 2016 has been included as historical information. The report covers market dynamics including drivers, restraints, opportunities, trends, and technology advancements that are expected to influence the expansion of the global knitwear market during the said period. The study provides a comprehensive analysis on market growth throughout the above forecast period in terms of value estimates (US$ Mn) and volume estimates (Million Units) across different geographies.

Global Knitwear Market: Trends and Opportunities

Across the globe there is a rise in demand for knitwear products due to increasing adoption of e-commerce. Globally, there has been an increase in online sales of knitwear products, which are part of the fashion and apparel industry. The e-commerce business of the global fashion and apparel industry is expected to increase from US$ 408 Billion in 2017 to over US$ 706 Bn in 2022, rising at a CAGR (Compound Annual Growth Rate) of 11.6%. The sale of knitwear products through the online channel is increasing due to increasing penetration of online knitwear sale in emerging economies such as Brazil, Russia, India, China, and South Africa (BRICS). Moreover, along with increase in online sales, increase in penetration of smartphones across emerging economies, rise in middle class population with increasing discretionary income, and innovative and advanced e-commerce technologies are driving the demand for knitwear products. It is observed that rise in online knitwear sales are increasing also due to increase in average revenue per user (ARPU) in e-commerce knitwear products compared to ARPU of offline knitwear product sale. The ARPU of e-commerce clothing market is expected to increase from US$ 270 in 2018 to US$ 301 in 2022. Knitwear products are a major segment of the fashion industry. The e-commerce in fashion industry in the U.S. and Europe are expected to expand at a CAGR of 8.8% and 8.7% between 2017 and 2022 respectively; on the other hand, e-commerce in fashion industry in China is expected to grow in double digits at a CAGR of 14.1% between 2017 and 2022. Thus, rising penetration of e-commerce in knitwear sales is boosting the market size of knitwear products across the world.

Global Knitwear Market: Key Segments

The study provides a decisive view of the global knitwear market by segmenting it in terms of product type, material type, application, consumer group, and distribution channel. In terms of product type, knitwear are classified into innerwear, t-shirts & shirts, sweaters & jackets, sweatshirts & hoodies, shorts & trousers, evening dresses, suits & leggings, and accessories. Based on material type, the market is classified into natural, synthetic, and blended. On the basis of application, the market is segmented into outerwear, innerwear, sportswear and others. Based on consumer group, the market is segmented into men, women, and kids. Further on the basis of distribution channel, the market is segmented into online and offline.

The analysis of the above segments is based on present and forecasted global demand for knitwear products and prevailing and future trends in the global knitwear market. We have analyzed the present and estimated regional market size of knitwear products across North America, Europe, Asia Pacific, Middle East & Africa, and South America. The regional knitwear market size is further broken down into country level markets in the following countries: the U.S., Canada, the U.K., Germany, Italy, France, China, India, Japan, GCC (Gulf Cooperation Council), South Africa, and Brazil.

Global Knitwear Market: Competitive Landscape

The report includes a detailed analysis of the global knitwear market, SWOT (Strength, Weakness, Opportunity, and Threat) analysis of the market, Porter’s Five Force analysis of the market, ecosystem analysis, key macroeconomic indicators influencing the market and raw material analysis of the knitwear industry. The global knitwear industry ecosystem analysis includes value chain analysis of the global knitwear industry including natural, blended, and synthetic fabric suppliers, textile companies spinning the knitwear fabric, knitwear manufacturers, knitwear products distribution and export channels, and various retail outlets including departmental stores, specialty stores, discount chains, and mass merchandise chains among others. The study also includes market attractiveness analysis in terms of product type, material type, application, consumer group, distribution channel, and country. The market attractiveness analysis is analyzed on the basis of CAGR of growth rate, market share, incremental opportunity, and general market attractiveness. 

The report highlights major companies operating in the global knitwear market including Adidas AG, Gap Inc., Gildan Activewear Inc., Hackett Ltd, Abercrombie & Fitch Co., Loro Piana S.P.A., Marks and Spencer Group plc, Nike Inc., Puma SE, Ralph Lauren Corporation, Lactose, The Nautical Company (UK) Ltd., Fast Retailing Co., Ltd., Victoria’s Secret, and YOOX NET-A-PORTER GROUP.

These market players have been profiled in terms of attributes such as description of the company, financials (if available in the public domain),and products, key strategies to increase market share, and recent developments and strategies adopted to increase their market share in the knitwear market.

The global knitwear market is segmented as below:

Global Knitwear Market, by Product Type

  • Innerwear
  • T-Shirts & Shirts
  • Sweaters & Jackets
  • Sweatshirts & Hoodies
  • Shorts & Trousers
  • Evening Dresses, Suits, & Leggings
  • Accessories

Global Knitwear Market, by Material Type

  • Natural
  • Synthetic
  • Blended

Global Knitwear Market, by Application

  • Outerwear
  • Innerwear
  • Sportswear
  • Others

Global Knitwear Market, by Consumer Group

  • Men
  • Women
  • Kids

Global Knitwear Market, by Distribution Channel

  • Online
  • Offline

Global Knitwear Market, by Geography

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America
.