Fashion & Textile Industry Review: Market Trends and Insights

Welcome to the newest edition of the Fibre2Fashion newsletter! This issue brings you the latest global trends in the textile, apparel, and fashion sectors. Stay updated with industry news, innovative technologies, and sustainability practices that are shaping the future of fashion.

Dive in and stay ahead with Fibre2Fashion!

Prime News:

• From January to October 2024, US saw an 11.26 per cent increase in textile and apparel imports, totalling 87,528.718 million square metre equivalents.
• Apparel imports grew by 4.36 per cent, and textile products by 13.75 per cent.
• Meanwhile, US exports of these goods declined by 2.81 per cent.
• This period marked a rebound from a 12.28 per cent decrease in imports during the same period in 2023.

• Cotton yarn trade in south India, particularly in Tiruppur and Mumbai, is experiencing sluggish demand and stable prices as the year and quarter end approach.
• With a looming holiday potentially stalling export activities and weakening domestic demand, the market sentiment is cautious.
• Prices in Mumbai remain unchanged, reflecting tepid interest from the weaving industry.

Prime Articles:

The latest US garment import data is of great importance because it marks the beginning of a new global garment industry with new requirements. It reveals a transformative shift in the global garment industry, with emerging suppliers replacing traditional leaders. This analysis uncovers who the new winners and losers are in this evolving landscape.

In an era where sustainability and environmental consciousness are at the forefront of global discussions, the textile industry faces its own critical question: Natural vs Man-Made fabrics – which is better? This debate is shaping consumer preferences, influencing industry practices, and prompting significant policy implementations worldwide.

In Other News:

• Asian Development Bank has cut India's economic growth forecast to 6.5 per cent for FY25 from 7 per cent earlier due to lower-than-expected growth in private investment and housing demand.
• It also cut India's growth forecast for FY26 from 7.2 per cent earlier to 7 per cent.
• APAC economies are projected to grow at 4.9 per cent this year, slightly below ADB's September forecast of 5 per cent.

• Ind-Ra expects inflation in India to average at 5.6 per cent and 5 per cent in Q3 and Q4 respectively in FY25.
• The headline retail inflation is expected to head closer to 4 per cent from end-FY25.
• It expects the index of industrial production growth to have inched up to around 4 per cent YoY in October owing to the pick-up in the core sector output and improvement in manufacturing sector output.

Articles For You:

India’s cotton industry, a key economic driver, faces challenges like pest infestations, quality issues, and climate impacts. However, rising global demand for sustainable cotton offers growth opportunities. Embracing organic farming, technology, and infrastructure investment, alongside government initiatives, can boost productivity, quality, and exports.

The textile industry in 2025 will focus on sustainability, traceable supply chains, circular fashion, and advanced technologies. Gen Z’s ethical priorities will boost slow fashion and premium quality. AI, automation, and wellness fabrics will drive innovation, while trade policies and microfinance will reshape global supply chains and sourcing.