Global market for compression wear and shapewear is anticipated to grow a CAGR of 6.2 per cent to reach $10.2 billion by 2032. As per a report by the Brainy Insights, the market’s growth will be driven by rising health consciousness amongst the population and the entry of major local and international firms in the sportswear sector.

Growth in the global compression wear and shapewear market during the period is likely to be driven by the Asia-Pacific region. The region's major economies—South Korea, Japan, and China—will contribute substantially to the market growth. 

Influenced by social media influencers and celebrity endorsers, the global shapewear segment is expected to grow at the highest CAGR during the forecast period. In terms of sales channel, the online sales segment is expected to grow at the highest CAGR during the forecast period.

The advent of e-commerce has made a wide variety of clothing and shapewear products from global manufacturers accessible to consumers. Widely available research on this trend enables them to explore different brands, styles, and functionalities.

Currently valued at $14.4 billion, the global textile yarn market is projected to grow at 5.1 per cent CAGR to reach $18.5 billion by 2028. 

As per a report by Markets and Markets, growth in this sector will be fuelled by factors such as an increasing base of the middle-class population in emerging economies and development of technically advanced yarns. 

Demand for textile yarns is also likely to rise owing to the manufacture of technologically advanced yarns with enhanced properties. Across the world, demand for technical textiles across diverse sectors such as apparel, medical, sports, automotive, and aerospace, is on a rise.

The plant segment in the textile yarn market is anticipated to experience highest rise in compound annual growth rate (CAGR) during the forecast period. This growth will be driven by an increasing demand for sustainable and eco-friendly products. 

Polyester will dominate growth within the artificial yarn category. The yarn’s exceptional durability, strength, resistance to abrasion, wrinkles, stretching and cost-effectiveness will drive its growth during the period.

The largest market share in 2023 will be held by Turkey which boasts of a highly skilled workforce, advanced production technologies and modern infrastructure. 

India’s second-largest employer with almost 45 million direct jobs, the textile and apparel sector is facing several challenges since the past one year. 

Garment factories across the country are noting a decline in work orders resulting in loss of jobs for lakhs of workers in states like West Bengal, Tamil Nadu and Tirruppur. Almost 40 per cent jobs in garment export units have been lost owing to work orders declining to 60 per cent, says PR Natarajan, General Secretary-Tiruppur, All India Trade Union Congress. 

Garment factories in Bengaluru, meanwhile, are facing labor shortage as most laborers have switched to working at shopping malls and metro rail stations, quips VP Rukmini, President, Garment Workers’ Union

As per a study by the Textile Committee, nearly 2.14 lakh jobs in the sector have been lost owing to the decline in exports and rise in imports from 2015-2020. 

The industry also lacks sufficient data on the impact of the slowdown on workers and wages in the post COVID years, including those on the cottage and micro industries; vast differences in labor profiles and systems between organised and unorganised sectors; migration of workers to better paying jobs if prospects do not improve for the textiles sector; and lower labor costs is other textile exporting nations affecting Indian exporters who compete on prices in the global market.

R. Karumalaiyan, National Secretary, Centre of Indian Trade Unions acknowledges, annual submission of data for the industrial surveys is poor as there is a lack of unionisation in the industry. Nevertheless, the sector needs to address its workers’ issues to ensure a speedy revival.

Currently worth $1.34 billion, the luxury vegan handbags market is expected grow at a CAGR of 11.3 per cent from 2023-2030 and reach $2.83 billion by 2030.  

As per a report by CoherentMI, the market offers stylish and fashionable handbags made from vegan materials like synthetic leather, recycled plastic and jute. Serving as a perfect alternative to animal products like leather or suede, these handbags cater to the tastes of conscious consumers looking for luxurious and eco-friendly options.

Future growth in the luxury vegan handbags market is likely to be driven by a rising demand for sustainable fashion, and increasing number of brands and designers launching their range of luxury vegan handbags. 

Luxury vegan handbags made of PVC materials are likely to dominate growth during this period as these materials serve as a cost-effective alternative to traditional leather.

North America is expected to hold a dominant position in the luxury vegan handbags market. The region has a well-established fashion industry and a high consumer awareness regarding sustainable fashion. However, other regions, such as Europe and Asia Pacific, are also expected to witness significant growth.

Archroma Pakistan, a stalwart in the chemical industry, secured its position among the elite as it clinched the Pakistan Stock Exchange (PSX) Top 25 Companies Award for 2022. With an impressive track record, Archroma Pakistan has now notched up this prestigious accolade an astonishing 20 times in the last 21 years, marking two decades of unwavering excellence. 

The award ceremony, graced by Prime Minister Anwaar-ul-Haq Kakar, saw Archroma Pakistan CEO Mujtaba Rahim accepting the honor amidst a distinguished audience of government officials and business leaders.

The PSX Top 25 Companies Awards commend Archroma Pakistan for meticulous financial management, regulatory compliance, and outstanding performance in environmental, social, and governance (ESG) practices. Acknowledged as one of the highest accolades in the Pakistani business community, the award underscores Archroma Pakistan's commitment to sustainable and ethical business practices. 

In Rahim's words, "We are honored to receive this award once again and pledge to continue enhancing every aspect of our operations." Earlier this year, the company also garnered recognition in the PSX Best Corporate Report Awards 2022, further solidifying its status as a beacon of corporate excellence.

In the bustling heart of the Intex India 2023 Exhibition, the Intex Textile Conclave unfurled a captivating narrative for the future of fashion. Over two days, from December 7th to 8th, the conclave became the epicenter for industry leaders, experts, and enthusiasts, converging to reimagine the very fabric of the fashion and textile industry. DFU I FashionatingWorld was the Knowledge Partner for the conclave.

A shift in fashion DNA: "Fibres of Fashion: Reimagining the Future of Textiles"

The guiding theme, "Fibres of Fashion: Reimagining the Future of Textiles," set the stage for a profound shift from supply-driven markets to consumer-centric narratives. Sanjay Chawla, Founder, Editor-in-Chief of DFU, set the tone by emphasizing a pivotal evolution – "The perspective has changed, It is now fashion to fibre." In his presentation, "Weaving a New Narrative for Consumers," he emphasized the collective responsibility of the supply chain, fabrics, yarns, and fibers to deliver values aligning with evolving consumer choices, both aesthetic and functional.

Mapping the fiber landscape: "Fibres of Change"

Delving into the dynamics of India's fiber market on a global canvas, the "Fibres of Change" session provided a comprehensive analysis. Sanjay Jain, Chairman of ICC National Textile Committee, highlighted the strategic shift to blends, particularly polyester-cotton blends, as a response to soaring cotton prices. A statistical presentation by Sarathy TG underscored the accelerated growth of fiber blends, proving their potential without compromising quality.

The cutting edge - "Fibres & Yarns of the Future"

The conference navigated the future of fibers in the fashion industry with a lively panel discussion on whether traditional yarns and fabrics are losing their edge. Dr. Deepti Gupta, Professor at IIT Delhi, moderated the session, emphasizing the critical role of cutting-edge developments in addressing challenges posed by changing consumer demands and sustainability concerns. The fashion industry, she noted, stands at a crossroads and fibers of the future will be instrumental in navigating this path.

Fusion of "Fabrics of Fashion & Functionality"

A captivating panel discussion explored the intricate dance of fusion and blends, unveiling how different fibers interact to create fabrics with enhanced aesthetics, luxurious feels, and specialized performance properties. From sportswear to activewear, the session delved into the benefits and applications of blending fibers.

Building bridges & beyond: Stakeholder collaboration for industry progress

Vijay Mathur, DG & CEO of ATDC, hailed the Intex Textile Conclave as an excellent platform for the entire textile value chain. The event not only provided a platform for stakeholders to voice concerns but also facilitated collaboration. Dr. Deepti Gupta moderated a session underscoring the need for collaboration to address industry-wide issues.

Sanjiv Mehan, Business Head at Nimble, a knitwear brand from Gini Filament, shared his enriching experience, stating, "It was indeed a very enlightening experience. I left an enriched professional with greater motivation and resolve to contribute to the fashion and textile industry."

The revolution at the loom - "AI X Textiles & Fashion Reimagined"

Looking beyond fibers and fabrics, the second day explored the transformative power of Artificial Intelligence. Vedant Ahluwalia, MD of Dataviv, delivered a thought-provoking presentation, urging the industry to embrace AI as part of its strategy for sustainable growth. "The time for textiles and fashion to embrace the AI revolution is now!" declared Ahluwalia.

In essence, the Intex Textile Conclave held at Intex India exhibition ( Dec 07-09) wove together insights, innovations, and aspirations for the future of fashion. From consumer-centric narratives to AI-powered revolutions, the discussions challenged and inspired, leaving participants with a renewed vision for the textiles of tomorrow. 

The lead speakers included Sanjay Jain, TT Ltd, Ujwal Lahoti, Lahoti Overseas, Chandrima Chatterjee, CITI, HKL Magu, Past Chairman AEPC, Lakshmi Bhatia, Ravish Nanda, Director Sourcing Benetton among others industry leaders. 

The event stood as a testament to the industry's resilience and adaptability, setting the stage for a dynamic and transformative future in textiles and fashion, not just in India but beyond.

Lenzing Group, a global leader in wood-based specialty fibers, recently orchestrated 'The Lenzing Conclave' in Ahmedabad, a renowned textile hub. Emphasizing Lenzing's enduring commitment to innovation and responsible manufacturing, the event provided a pivotal platform for industry stakeholders to discuss sustainable textile advancements and future opportunities.

The conclave spotlighted Lenzing's latest innovations under TENCEL and LENZING ECOVERO fiber brands, with a particular focus on products blending TENCEL fibers and cotton tailored for the Indian market. Ahmedabad's fabric mills and traders, stalwart consumers of Lenzing fibers, have significantly influenced end fabrics in fashion, denim, home textiles, and intimate wear, gaining traction both domestically and in export markets.

The exhibition showcased Lenzing's cutting-edge developments across major segments, offering a hands-on experience for participants to explore the versatility and quality of Lenzing fibers. Avinash Mane, Senior Commercial Director of AMEA & NEA region, Textiles Business, Lenzing Group, hailed the conclave's success in fostering collaboration, innovation, and sustainable practices. The event affirmed Lenzing's role as a trusted partner in Ahmedabad's textile industry, contributing to the creation of high-quality, sustainable fabrics for global markets.

Leading global supplier of jacquard technology, Staubli will showcase its state-of-the art technology for efficient weaving at the SITEX trade fair

The fair will be held from January 06-08, 2024 at the Surat International Exhibition and Convention Centre (SIECC) in Surat, India.

Staubli’s products will be displayed in Booth 256 at the exhibition. The company will offer a wide range of yarn types along with dedicated solutions for processing synthetic fibers. Visitors to the Stäubli booth will observe the renowned S1692 cam motion, which handles up to 8 lifting units. It can weave a wide variety of applications and has been installed in numerous mills around the globe.  

Another product at the booth will be SAFIR S32 automatic drawing-in machine for filament warps. The machine is equipped with unique Stäubli AWC 2.0 technology, including double-end detection as a standard feature. The optional AWC 2.0 layer & offset management function allows the processing of complex repeats and double layers. Full of ingenious new features, this automation solution is an ideal way to improve the efficiency of style changes and streamline the mill’s downstream weaving process.

In a groundbreaking initiative, the Global Apparel Conference (GAC) brought together over a thousand participants from nearly 20 countries and regions. Held under the banner "Together for a Shared Future," the event, hosted by the China National Textile and Apparel Council, unfolded from November 16 to 18, 2023.

Industry in transition: A call for collaboration

The global apparel sector stands at the crossroads of change. The GAC sought to foster international cultural exchange as a means to address shared challenges and promote lasting communication. Through an array of events, including an opening ceremony, two galas, three themed forums, and parallel showcases, the conference aimed to gather insights, build consensus, and deepen cooperation.

Themed forums: Shaping the industry landscape

Diving into critical facets of the apparel industry, the GAC featured three themed forums: the Science and Technology Forum, the Fashion Forum, and the Sustainable Forum. Topics spanned "From digitalization to supply chain planning," "From fashion trends to cultural roots," and "From environmental protection concepts to production technologies."

Global Unity: Key takeaways from GAC plenary session

During the GAC plenary session, participants unanimously endorsed the principles of integration, cooperation, and transparency, encapsulated in the Global Apparel Conference Vision (Humen Vision). Riccardo Braccialini, President of Confindustria Moda, emphasized, "Interdependence, openness, and cooperation are essential for the future of the global fashion industry."

International representation: A united front

Representatives from prominent industry associations worldwide attended the GAC. From Confindustria Moda in Italy to Moda España in Spain, and BGMEA in Bangladesh, the collaboration echoed a commitment to the future of fashion.

Spectacular finale: Night of Humen

The conference culminated in the "Night of Humen," a dazzling showcase featuring creations by renowned designers such as Huang Guangchen & Guo He, Wang Yutao, and Mossi Traore. Mossi Traore, the recipient of the Pierre Bergé Fashion Prize, left the audience captivated.

Optimistic outlook for the future

Sun Ruizhe, President of the China National Textile and Apparel Council, expressed optimism about the future, stating, "The successful start of the first Global Apparel Conference confirms the international willingness to cooperate transparently. We look forward to the next event with even more global players in the industry participating."

The GAC has set the stage for a collaborative and innovative future in the global apparel industry, marking a milestone in fostering unity and addressing shared challenges.

India's newly-elected president of the International Textile Manufacturers Federation, K.V. Srinivasan, sees a significant opening for the country in the global textile market. 

With international buyers seeking alternatives to China, India has a prime opportunity. However, global demand slumps and rising inflation pose challenges. 

Srinivasan notes surprising domestic textile demand lows, even during festivals, emphasizing room for Indian industry competitiveness improvement. 

The Southern India Mills' Association recently felicitated Srinivasan, with ITMF Director General Christian P. Schindler highlighting global industry dynamics in a virtual presentation.