How big is the Chinese apparel market?

China’s 1.4 billion population constitutes a huge market for clothing, and one that is growing year by year. According to figures released by the National Bureau of Statistics, the number of garments produced by enterprises above a designated scale in 2020 was 22.

How much is the fashion industry worth in China?

For decades, China’s fashion industry lagged behind the West. But today, China is the second largest apparel market in the world, valued at nearly $2 billion USD. Younger, middle-class Chinese consumers are changing the established paradigm at nearly half of the world’s total luxury fashion sales.

What percentage of apparel is made in China?

In 2015, approximately 31 billion units of apparel had been produced in China. International trade figures further emphasize China’s current position as the world’s largest textile-exporting country. In 2019, China accounted for over 39 percent of the world textile exports, followed by the European Union and India.

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How big is the apparel market?

The market size, measured by revenue, of the Global Apparel Manufacturing industry is $825.7bn in 2021.

Is garment manufacturing big in China?

With more than 100,000 manufacturers, China’s garment industry is huge and employs over 10 million people. In 2012, China made 43.6 billion pieces of garments with an export value of 153.219 billion US dollars.

Why is the fashion industry so big in China?

China surpassed the US as the world’s biggest fashion market in 2019, according to McKinsey. … With the rapid urbanization and the increasing spending power of the population, markets for both high-tier and low-tier clothing are rapidly growing.

How many garments factories does China have?

In total China has nearly 44,000 companies in the manufacture of textile. Wearing apparel, accessories, leather goods and footwear. Among these 21,000 companies focus on textile manufacturing, 15,000 companies focus on apparel and accessories and 8,000 companies manufacture leather goods and footwear.

What country manufactures the most clothing?

China is the largest textile producing and exporting country in the world. With its rapid growth over the last two decades, the Chinese textile industry has become one of the main pillars of the country’s economy. Clothes, clothing accessories, textile yarns and textile articles are amongst Chinas’s top export goods.

How many people are employed in the textile industry in China?

According to the Chinese National Textile Industry, 15 million people are employed in the industry.

How many Chinese textile companies are there?

Chinese textile and clothing industry

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According to IKAR data analysis, as of 2019, China was the largest exporter of textile and clothing products in the world with about 24,000 enterprises in this industry and around eight million employers.

What is the fashion industry worth 2021?

Fashion industry statistics for the UK estimate the industry’s worth at about £60.3 billion in 2020 and £62.2 billion in 2021. The UK fashion industry also employs about 555,000 people, according to FashionUnited.

How profitable is the clothing industry?

Profit Margins in the Clothing Industry

Profit margins for retail clothes are generally within a range of 4 percent to 13 percent according to industry analysts. Markups often seem high as compared to cost of goods sold, another term for variable costs.

Who dominates the fashion industry?

Fashion remains a male-dominated business, wherein women spend 226% more than their male counterparts, but men still hold majority of the power in regards to running the fashion houses.

What fabric is China famous for?

Chinese textiles (fabrics or cloths) were amongst the most powerful commodities in world history. While the Chinese did use cotton as a major material, they are most famous for their use of silk, which is a fabric that’s lightweight, strong, and considered to be naturally beautiful.

Which city is famous for textile industry in China?

Keqiao, Shaoxing County. still mostly unknown in the Western world. Shaoxing County is the center of the Chinese textile industry.

Why is textile waste bad?

The environmental impact of this behaviour is significant: the clothing and textile industry is depleting non-renewable resources, emitting huge quantities of greenhouses gases and using massive quantities of energy, chemicals and water.

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