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The International Textile Manufacturer Federation (ITMF) has unveiled the latest edition of its International Textile Industry Statistics (ITIS), offering insights into productive capacity and raw materials consumption in the short-staple organized (spinning mill) sector across global textile-producing nations.

The global textile yarn market, currently valued at $14.4 billion, is poised for substantial growth, projected to achieve a 5.1 percent compound annual growth rate (CAGR) and reach $18.5 billion by 2028, according to a recent report by Markets and Markets. This upward trajectory is attributed to various factors, including the expanding middle-class population in emerging economies and the development of technically advanced yarns.

The global knitwear market is on an upward trajectory, showcasing a remarkable shift from its traditional role as innerwear to a fashion statement. As consumers and designers alike increasingly embrace the fabric's exceptional versatility, the period of global lockdowns in 2021 and 2022 underscored knitwear's significance, with a notable surge in popularity due to its comfort and adaptability. According to a recent report by Maximize Market Research Private Limited (MMR), the global knitwear market is expected to touch $156.8 billion by the end of the decade, exhibiting a compound annual growth rate (CAGR) of 5.8 percent.

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