The global textile market was valued at USD 1,837.27 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 7.4% in revenue from 2024 to 2030. Changing consumer habits and the subsequent rise in online shopping are the major factors driving the growth of the global textile market. The fashion industry accounts for the maximum demand for textiles, thanks to the fast-changing trends and growth of e-commerce platforms. The fashion segment dominated the market in 2023, thanks to the increasing consumer spending on clothing and apparel. 

The rising demand for formal and casual wear and other clothing among all age groups contributed to the accelerated growth of the textile industry. There are several textile hubs around the world known for their rich history, quality, and variety. Let’s look at the renowned global textile hubs. 

China

China is the top global textile exporter with a value of approximately 148 billion U.S. dollars. It is a manufacturing powerhouse with a skilled labour force, robust infrastructure and efficient supply chains. China’s strong foothold in the textile industry can be attributed to various factors such as low cost of labour, abundance of raw materials and high-end machinery. Its large-scale production capabilities have made it a lucrative destination for mass manufacturing for companies all over the globe. 

India

has a rich history of manufacturing high-quality textiles and is undoubtedly one of the important centres of the world. It has been supplying cotton to the world for centuries and continues to cater to the textile demands of the world. India’s textile market is expected to reach $250B by 2030. Government initiatives like Make In India have further boosted and revived the traditional textile industry.

Bangladesh 

Bangladesh is now emerging as a significant driver of the global textile market. It is actively resolving safety and infrastructure issues that hindered its growth in the past and making waves in the textile industry with its remarkable labour force and improved efficiency. Bangladesh’s ability to mass produce at low cost has propelled its growth as a major hub. Bangladesh's ready-made garment (RMG) exports reached US$35.61 billion during January-September 2023, up 7.96% year-over-year.

Vietnam

Vietnam is one of the textile manufacturing hubs in the world with significant export value. Suitable climatic conditions to grow cotton and natural fibres, an open economy and low labour costs have helped Vietnam secure a position amongst prominent textile manufacturers of the world. The ability to produce a wide variety of garments is one of Vietnam’s key strengths. 

Turkey 

Turkey exported $10.4 billion in textiles and $21.2 billion in clothing last year, making it the world's fifth and sixth biggest global exporter respectively. COVID forced the Western countries to turn to Turkey to cut costs and tackle supply chain disruptions. This gave a huge boost to the textile industry of Turkey. Though the market is currently facing some challenges due to domestic inflation and rising shipping costs, it is expected to remain a versatile player in the fashion industry owing to its excellent design capabilities, hi-tech solutions and dynamic production. 

The countries discussed here account for significant contributions to the global textile industry. Countries like Bangladesh are slowly emerging to become a reliable textile manufacturing hub due to its improved policies and reforms. Moving forward, sustainable practices and innovative production methods will impact the textile industry in more ways than one.