Global Knitwear market is anticipated to reach USD 699 Billion, growing at an impressive CAGR of over 5% during the forecast period, due to the increasing adoption of e-commerce sites and expanding fashion industry. Moreover, rising awareness about health and increased participation in activities, such as running and yoga, are elevating the demand for active wear.
Based on the product type, the market has been segmented into Innerwear, T-Shirts & Shirts, Sweaters & Jackets, Sweatshirts & Hoodies, Shorts & Trousers, Evening Dresses, Suits, & Leggings and Accessories. In 2017, t shirts, shirts and innerwear acquired more than 40% share which is anticipated to increase in the future.
The global children wear market is foretold to gain momentum in growth due to the rising demand for high-quality products amid increasing safety concerns. With increase in disposable income, especially in developing economies, the growth of the global children wear market could see a rise in the coming years. Increasing interest in buying new clothes for kids could bode well for the global children wear market. Social media is expected to significantly push the global children wear market in terms of demand.