Market Size of Italy Textile Manufacturing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Italy Textile Manufacturing Market Analysis
Italy's Textile Manufacturing market is expected to register a CAGR of less than 2% during the forecast period from 2022 to 2027.
COVID-19 negatively impacted the global textile industry, and the Italian textile industry is no exception. Italy's textile manufacturing industry was experiencing a negative growth rate before 2020, and COVID-19 caused a further dip in the revenue of the textile manufacturing market. According to UN Comtrade, in 2020, the revenue of textile and apparel export decreased by 15.65% and imports by 1.73%. The slow revenue growth was observed in 2021. The revenue of the market is expected to reach its pre-pandemic level by 2023.
Sales of apparel over the online platform are supporting the market growth. The value of both import and export of textile and apparel has been decreasing continuously since 2018. The consumption of natural fiber is also declining drastically. Consumption of cotton decreased from 1,330 thousand bales in 2000 to 135 thousand bales in 2021. Some disruptive technology in manufacturing, distribution, and marketing is needed to see market its old golden days.
