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Total Apparel Market to Nearly Double by 2025

The net worth of the apparel market is expected to be almost $2 trillion by 2025, nearly doubling the current value of $1.1 trillion, according to a report from India-based consultants Wazir Advisors Pvt. Ltd., released at a clothing conference on July 19th.

Much of this growth will be driven by China and India, whose combined apparel market is expected to reach $740 billion by 2025, surpassing the US and European markets. The report also suggests that growth will be driven by trade within Asia, which is expected to almost double, to $350 billion. India’s share of that export market should grow to around $40 billion by that time.

China is expected to remain the world’s biggest clothing exporter, but domestic demand growth is expected to outpace exports, in line with expectations from the Chinese government.

Output growth in China should also fall, creating a supply gap of around $100 billion worldwide. As a result, exporting countries such as India, Bangladesh, Pakistan, and Vietnam will have an opportunity to gain market share.