Textile Market

1. Market Size and Growth Trajectory

The global denim market, valued at $64.5 billion in 2022, is on a steady upward climb, with projections estimating it will reach $76.1 billion by 2027, according to Market Research. This growth reflects a compound annual growth rate (CAGR) of approximately 3.4% over the five-year period, driven by evolving consumer preferences, innovative designs, and the enduring appeal of denim as a versatile wardrobe staple.

In 2022, the European Union (EU) emerged as the world's foremost importer of textiles, with an import value reaching approximately 78 billion U.S. dollars. This staggering figure highlights the EU's pivotal role in the global textile trade, surpassing other major importers like the United States and Vietnam, which imported textiles worth 39 billion U.S. dollars and 19 billion U.S. dollars, respectively.