Knitwear market compromises of a lot of products including Innerwear, T-Shirts and Shirts, Sweaters and Jackets, Sweatshirts and Hoodies, Shorts and Trousers, Evening Dresses, Suits and Leggings, Accessories and more. These products are made from a different type of materials such as Natural, Synthetic and Blended. Knitwear industry is one of the oldest industry in India and it is also one of the most developing market segment across the globe.
India serves as a hub for knitwear manufacturing and is one of the major export hubs. The knitwear from India is exported to the various foreign country including America, Canada, Australia, Europe and other countries. India has emerged as a major contributor to the growth of handmade knitwear.
The Traditional and Made Knitwear in India:
Handmade knitwear in India dates back to the 17th century. The skilled people, Wayback in time, started knitting different types of garments using natural fibres. Slowly and gradually India started making knitwear from different fibres and handmade knitwear became one of the specialities in the world.
Government policies and aids further enhanced the development of the industry and today India stands tall amid the list of and made knitwear manufacturers in the world.
Handmade Knitwear Market Expanding Globally:
On a global scale, the demand for handmade knitwear has increased significantly. People prefer buying and wearing handmade knitwear clothes due to various reasons including their intricate built, impressive designs, comfort, and availability. Brazil, Russia, India, China, and South Africa (BRICS) are reported to be the emerging economies for handmade knitwear. The global handmade knitwear market is expected to increase from US$ 408 Billion in 2017 to over US$ 706 Bn in 2022.
Knitwear makes a significant segment of the fashion industry and the demand for knitwear is increasing significantly. Knitwear has reached to the ramps of famous fashion shows.
Key Factors Boosting the Demand for Knitwear Across the World:
E-Commerce is the key reason why the demand for knitwear has increased significantly. With easy access to the market and various products, people are impulse buying knitwear items.
The knitwear industry is evolving in terms of design and knits. There is a range of upper wear and bottom wear options available in the market. People can evaluate various options and buy the most suitable one.
The government is constantly trying to support the knitwear industry and its players. There are various policies and aids launched in the industry to ensure that the handmade knitwear industry has enough resources to grow and expand.
The handmade industry is a vast industry with several unorganized segments. It is important for it to grow exponentially, and be able to cater to the rising demand of the customers. India specifically has a great scope to become big and adapt a more organized model. The global, as well as the Indian market for knitwear, is expected to grow at a rapid rate as more and more people tend to prefer knitwear over other garment types.