Market Overview of Knitting Industry

In the present day is takes more efforts not only to survive in the market, but
also to offer new products, that are manifold in nature; purely aesthetic and
also a need of the hour. Many of the global apparel giants are now eyeing the
knitwear market with interest.

People are inspired by the diverse traditions

getting revived, and knitwear is not an exemption.
Today's couture refers not only to beautiful fabrics,
but also the capability of perform up to the standards.
Knitted fabrics that are generally used in clothing
that require changes in shape play a major role in the
apparel sector. Advancements in knitting technology
have resulted in rapid transformation of the industry.
With improved technology, and minimization of
limitations such as torque in knit apparels and
shrinkage, global market for knitwear is evolving
constantly.

Industry analysts have estimated that market for knitwear is likely to grow and reach
20.3 billion USD by 2015. Desire for trendy lifestyle, media awareness, and an increase
in the amount of disposable income, have invigorated the growth of the industry.
Current market demand is stressed with shape and structure enhancing products and
competitive pricing. There is a fierce competition between the manufacturers and
marketers to strike the best bargain and offer promotional discounts to consumers. Cut-
throat competition has made manufacturers are to offer multipack products at
throwaway prices.

Market for knitwear is segmented into pantyhose, socks, opaques, sheers,

stockings, leggings, and many others. Elasticity of the knitted fabric gives a more
form fitting nature to it. Technology is a major factor influencing the knitwear
business. Manufacturers are replacing their old machineries with sophisticated and
upgraded ones. Mechanical knitting machines have given way to electronic
knitting machines that provide great speed and greater production.
 Developments in fine-gauge knitting,
and advanced treatments such as
digital printing, glossy foil prints,
inkjet printing, flocking, and burn-outs
have heated up the market. New knitting

machines have opened up possibilities

hitherto into unknown segments such as
technical textile, for instance; products
such as fishnet, fruit-net, shade net and
composite products.

Favorable factors for knitting industry:

 The capital investment required for starting a new knitting unit is lesser
comparatively over other fabric making units.
 Time taken for completion of knitted garments is lesser.

 Knitting is flexible than weaving in a way that styles, and designs can be
modified with unparallel rapidity. Keeping pace with the quick changes in
fashion becomes possible.

 Knitted apparels make a perfect choice for today's generation who are
more focused on wrinkle free, and easy caring fabrics.
Global Market for Knitwear:

Report Overview
The global knitted fabric market size was valued at USD 23.8 billion in 2018 and is anticipated
to witness significant growth in the forecast period. The growing apparel industry is one of the
major factors driving the market. Furthermore, the increasing importance of knitted fabric in the
automobile, construction, manufacturing, and medical sectors is expected to fuel market demand
over the forecast period.

 Shifting consumer preference for lightweight and high-performance knitwear is fueling

the demand for feathery raw materials including polypropylene, linen, silk, faux fur, and
synthetic fibres. Woven fabrics have been replacing bulked yarns made knitted fabrics.
Over the past few years, the apparel industry has been witnessing steady growth in
demand for the loop stitch jackets, cardigans, large shawls, and scarfs. In terms of color,
grey, classic black, brown, and beige have been gaining significant popularity across the
world.

 Demand for feather-light circular knit fabrics has increased in the hosiery market due to
its better breathability of the material. Lightweight knitted textile has also gained
significant traction in the protective clothing market. Sponge-like, anti-tear, and durable
materials are applied in single or double layers in the protective clothes. Similarly,
 featherweight textile, along with high compression, chlorine resistant, and moisture
management property, has witnessed high demand in the sportswear industry..

 In addition, the application of knitted fabric has been increasing in denim garments, as
consumer preference is shifting towards wrinkle-resistant, flexible, soft, and comfortable
textile. The rising importance of synthetic fibers in the construction and apparel
industries is expected to propel the growth of the market in the upcoming years.
Application of the fiber has been expanding in the construction industry as geotextiles in
roof, walls, dams, and roads.

 Thermal insulation and dust-resistant features of synthetic fiber make it ideal for the
production of curtains, napkins, carpets, and table clothes. The implementation o artificial
intelligence (AI) has been increasing in this industry. It helps to predict the properties and
the quality of the product before manufacturing the actual textile. AI plays an important
role in the quality inspection of textile, which reduces errors and expenses.

 The fast adoption of 3D knitting machines in the industry has increased the
productivity of the manufacturers. This machine can knit multiple yarns at
the same time by using digitally stored information. This technology makes
customization easier and saves both operating time and costs. These
technological developments are expected to foster market growth over the
world. However, rising cotton price and counterfeit products can hamper the
growth of the industry in the near future.

Notable developments in the knitted fabrics market:

 A leading Italy-based manufacturer of high-quality knitted fabrics, Luxury Jersey

recently announced the launch of two new fabrics for the luxury segment, in
partnership with partner Fulgar – an Italian producer of man-made fibers. The
company used Evo by Fulgar, which is a yarn made from castor oil, in
combination with GOTS-certified organic cotton to manufacture these new
fabrics. The company also announced that the two new fabrics offer a strong
sustainable component in the knitted fabrics market, and can be ideal for
women’s outwear and sportswear
  In February 2018, scientists at Texinov Medical Textiles – a French
manufacturer of warp-knitted textiles, developed a knitted fabric using
laser technology that can be used in treatments for skin diseases such as
actinic keratosis, psoriasis, and acne with light

 Zaha Hadid Architects and researchers from ETH Zurich – a science,

technology, engineering, and mathematics University based in Zürich,
Switzerland – developed double-curved concrete shelled pavilion was
made with the help of KnitCrete – a 3D-knitted formwork. This framework
is claimed to have helped in saving material, waste, and labor for
construction by simplifying the construction process for complex shapes.

The report provides information about knitted fabrics market structure, key financials, recent
competitive developments, and financial share analysis of leading stakeholders in the knitted
fabrics market.
Medical Textiles – A Lucrative Application Area for Knitted Fabrics
Manufacturers
Both, woven fabrics and knitted fabrics are commonly used in the healthcare industry as medical
textile. However, textile engineers discovered that knitted fabrics are more flexible, highly
porous than woven fabrics, and have loose and changeable structural design, thereby can be
used in versatile medical applications.

The structure of knitted fabric can be altered and modified easily to suit variable requirements of
several medical applications, which is boosting demand for knitted fabrics in the healthcare
industry.

With growing awareness about unique benefits of knitted fabrics, when they are used as medical
textiles, knitting technologies have emerged to be an integral part of the healthcare industry.

For example, warp knitting technology is becoming popular as one of the most economic
technologies used to manufacture thermostatic textiles used in surgery to maintain patients’
body temperature.

Increasing use of high-tech medical textiles in healthcare applications is creating numerous

lucrative opportunities for manufacturers in the knitted fabrics market. Leading market players
are likely to adopt next-generation manufacturing technologies to offer knitted medical textiles
that can suit various requirements of medical applications in the upcoming years.
Market Structure
The knitted fabrics market into its four broad sub-segments – construction type, fabrics type,
applications, and regions.

Based on the construction types of knitted fabrics, the knitted fabrics market is segmented into
two main categories – weft knitted fabrics, and wrap knitted fabrics. Based on the fabric types,
the knitted fabrics market is segmented into flat/jersey, purl fabric, rib stitch, and interlock.

According to the applications of knitted fabrics, the knitted fabrics market is segmented into
Agrotech, Buildtech, Indutech, Sportech, Packtech, Meditech, Clothtech, and Geotech. Based on
geographical regions, the knitted fabrics market is segmented into North America, Latin
America, Europe, Japan, Asia Pacific region excluding Japan (APEJ), and the Middle East & Africa
(MEA).
Product Insights

Weft-knit fabric dominated the industry with a share of more than 60.0% in 2018.
Low cost, better elasticity, and simpler production process make it more preferable
among the manufacturers. It includes different types of stitches such as plain or
jersey, rib, purl, interlock, double knit, and circular knitting. Weft knitting is
commonly used for underwear, pajamas, jumpers, scarves, hats, and gloves. Over
the past few years, circular knitting machines have gained significant importance
in the seamless hosieries and underwear manufacturing industry.
The warp-knit products are expected to witness the fastest CAGR of 6.4% from
2019 to 2015. Warp knitting is used in several industries including apparel, inner
wears, shoes, household, automotive, and industrial. The rapid growth of the
automotive, construction and manufacturing industries is expected to fuel the
segment growth. Different types of warp knitting include tricot knits, raschel knit,
crochet knit, and Milanese knit.

Application Insights
As of 2018, the technical application segment held the largest share of over 80.0%. Packaging,
automotive, manufacturing, household, construction, and medical are the major applications in
the technology sector. The raschel and crocheting knitting technology ensures safe and scratches
free handling of sensitive components due to its knots free property. Therefore, it gained
significant popularity in the packaging industry. Knitted bags and sacks are used for the
shipment of industrial and food products.
One of the major applications of the product also lies in the automotive industry. The spacer
fabric is widely used in the production of car seats, airbags, protective lining over wires, and roof
due to its cushioning feature. These textiles are used in tires, filters, mats, seat belts, and
soundproof engine. Rapid growth of the automobile industry is expected to boost the demand for
the product in the near future.
  Knitted fabric has a wide application as home textiles in the household sector, including
products such as home cushion, curtains, carpets, dust bags, dust covers, and door
mattress. Synthetic material is gaining popularity in curtain manufacturing due to its light
resistance property. Rising per capita income in developing countries is anticipated to
fuel the demand for home textile in the upcoming years.
 The product has gained significant importance in medical textiles. It has a wide
application in the production of bandage, plasters, hospital laundry bags, wheelchairs
covers and seating, medical mattresses, and orthopedic support by using the 3D spacer,
4D spacer, meshes, plain, and brushed fabrics. Furthermore, these fabrics have a wide
usage as implantable medical textiles such as artificial ligaments, artery, veins, sutures,
hernia sheets, artificial elbows, and hip joints. The rapid progress of the medical industry
is projected to boost the demand for the product.

Regional Insights

As of 2018, Asia Pacific dominated the knitted fabric market and accounted for 70.2% share of
the total revenue. China holds the largest share of all the countries in the world. This nation is
one of the top exporters of the clothing industry across the world. It represents one-third textile
and apparel import of Europe. Manufacturers in this country are shifting towards automation and
digitalization for high high-quality knitting textiles.
Other than China, India and Bangladesh are also prominent markets for knitwear. Favorable
regulatory frameworks, government initiatives, and low labor costs have accelerated the growth
of the industry in this region. In addition, growing manufacturing, construction, and automotive
industries in the region is expected to fuel the demand for the product in the near future.
INDIAN KNITWEAR MARKET

Market Overview

India is at the threshold of a retail revolution with the fashion retail market being one of the
fastest evolving segments in Indian retail. Change in income structure, consumer tastes and
preferences, the rise of a burgeoning middle class income group with increasing disposable
income, increase in the number of working women, entry of foreign retailers, etc., are some of
the key growth drivers of Indian fashion retail.

Currently, the fashion retail market is estimated at Rs 3,22,209 crore (US $50 bn) and is
envisaged to grow at a promising CAGR of 7.7 percent over the next decade to reach the size of
Rs 6,74,037 crore (US $104 bn) by 2027.

KNITWEAR

 Despite being strong in wovens, Indian fashion retail is witnessing huge demand for
knitwear. The knitwear market is expected to grow at a promising rate of 9 percent over
the next decade to reach Rs 1,61,700 crore from the current market size of Rs 68,932
crore.
 Men’s wear is the single largest category in knitwear, accounting for 40 percent followed
by women’s wear, boys’ wear and girls’ wear with market shares of 34 percent, 18
percent and 8 percent respectively.
 Knitting factory in India holds expertise in offering knitted fabric to their esteemed
clients. A wide collection of knitted fabric could be availed from them, in diverse colors,
sizes as well as patterns. Clients or buyers have the choice to personalize or customized
knitted fabric in accordance to their needs and requirements. They are able to offer bulk
amounts of high quality knitted fabric to customers to domestic and diverse international
market.
 In quest for value addition as well as to boost the process of spinning knitting business in
India manufacture superior knitted fabrics. The high quality yarns generated in their unit
are utilized to make high quality grey fabrics to be used by the international apparel
industry. All the knitted fabrics are created on the newest and state of the art knitting
machines. They manufacture knitted fabrics and fabrics that have elastane up to 10
percent. They also offer fabrics in greige type in tubular as well as open width.

Key Segments
 The domestic knitwear market consists of various categories such as innerwear, t-shirts,
winter-wear, knitted bottom-wear for kids, sleepwear, etc. The major contributors to the
knitwear market are innerwear and t-shirts accounting for 34 percent and 28 percent of
the market respectively.
 The innerwear segment is a large category in the Indian knitwear market. The current
market size of the innerwear market is worth Rs 27,931 crore which is estimated to grow
at a CAGR of 10 percent over the next decade to become Rs 74,258 crore by 2027.
 The Indian innerwear market is primarily segmented into men’s and women’s. Currently,
the women’s segment dominates the market by accounting for 66 percent of the total
market. It is estimated at a value of Rs 18,454 crore and is expected to grow at a high
CAGR of 12 percent over the next decade. The remaining is contributed by men’s with
an estimated value of Rs 9, 477 crore which is expected to grow at a CAGR of 7 percent.
The kids’ innerwear market is primarily unorganized. Local MBOs and regional players
are known for catering to kids’ segment of the innerwear market.
 Innerwear has evolved from core functional to being associated with more lifestyle
attributes. Varied activities and enhanced lifestyle has lead to increased demand for
fashionable, functional and premium lingerie that is sported at different occasions and
activities on daily basis. The innerwear category is expected to witness more innovation
and experiment in shapes and materials.
 Another signifi cant category under knitwear market is t-shirts. It is widely accepted
among a wide range of customers for its soft knit fabric, fi tting and versatility, making it
a comfortable and dynamic category under knitwear. The t-shirt market of India
comprises of polo t-shirts, knit t-shirts, Henley t-shirts, knit tops, etc. The current Indian
t-shirt market is estimated at Rs 23,211 crore which is expected to grow at a promising
CAGR of ~10 percent over the next decade to reach Rs 61,954 crore by 2027.
 With an increase in the fashion conscious population and growing working women
populace in the country, this segment shall continue to grow further. Even the middle
aged/ older consumers have also started experimenting and adopting t-shirts.
 The fact that Indian youth seek a distinct look has forced t-shirt manufacturers and
retailers to explore various dimensions of product innovation primarily related to product
design, colour selection options, prints, etc. In addition to cotton t-shirts, the Indian
fashion market is also witnessing a huge demand for polyester-cotton blendedt-shirts.
Polyester is the most common fibre used in the sportswear as it does not hold water and
gets dry very quickly. The demand for t-shirts printed with traditional Indian designs has
also gained momentum. Many retailers have started providing the option of customising
t-shirts through their websites. In the coming years, the demand for organic cottonbased
t-shirts and those made from recycled products is expected to pick up in select Indian
cities. Such products are already in demand in many western countries.
 Bottomwear is another emerging category among knitwear in India. The huge demand of
leggings, knitted churidar, pajama sets, etc., due to comfort and easy maintenance has
resulted in growth of this category. Increased share of working women with their concern
on low maintenance of apparel has made leggings popular among them.
  Due to abundant style options, changing life styles, and increase in brand awareness and
exposure to western fashion, the average Indian apparel consumer has become much
more picky and aware of their fashion needs.
 The other categories contributing to the knitwear market are winterwear, kids bottomwear
and sleepwear etc. These categories are expected to grow at a CAGR of 4 percent, 9
percent and 7 percent respectively.
 Athleisure, comfortwear are a few new emerging categories in the knitwear segment.
Their increasing acceptance and huge demand among the youth will add to increase in
their share in knitwear, propelling the growth of Indian knitwear market.

Trends and Growth Drivers

 The Indian knitwear market has witnessed impressive growth in the last decade. The
primary factor driving this growth is increasing adaptation to casualwear by Indians.
Nowadays, casualwear is not confined only to the walls of one’s residence but is being
adopted in the corporate sector as well. The emergence of start-ups with flexible or no
dress codes has also increased demand of casualwear. The Indian casual wear market is
booming and the rural markets will play a pivotal role in this growth story in the near
future. Factors including a growing middle class population, rising disposable income,
increasing brand awareness among the consumers in terms of quality and up-gradation of
service standards, ensure promising future for casual wear segment. There is a huge
scope for product innovation within the casual wear segment. India has become a market
with a plethora of opportunities and brands and retailers who understand the needs of
Indian customers better are expected to leverage these opportunities.
 The knitting industry is making some interesting changes in the footwear category as
well. Usage of flat knits in making shoe uppers has increased as it results in zero wastage,
less energy consumption and higher productivity.
 Increasing urbanisation, higher discretionary spending and evolving lifestyle is leading to
casualization of both men and women’s wardrobes. Smart casuals with a few do’s and
don’ts are becoming more and more acceptable on a daily basis and are not strictly
restricted to a Friday dressing format anymore.
 Knitwear fabrics are known for the comfort they provide, moisture absorption, stretch,
easy care, etc. The conversion of need based clothing to occasionwear has resulted in the
emergence of new categories such as gym wear, yoga wear, etc., which is going to
increase the demand of knitwear in the near future.

Action to be taken

 The knitwear market in India is gaining share in Indian fashion retail. The change in
consumer’s tastes and preferences and emergence of new categories such as athleisure,
gym wear, yoga wear, comfort wear, et al., has lured many brands/retailers to cater to this
growing knitwear market. The increasing penetration of these categories in smaller towns
and rural areas would fuel this growth.
 Exploring new segments within knitwear will also be key to the growth for brands.
Brands and retailers that would keep pace with the changing fashion trends through
innovation, alongwith the flair of establishing themselves through marketing strategies
are expected to outpace their peers and would be positioned better to capture a higher
share of the Indian knitwear market.

Competition With Global Brands

 The competition between Indian knitwear industry and the global brands is heating up
evidently.
 Defining the competition and the possibilities of the Indian market Bobby Arora,
Director, Status Quo said, “Competition was there and will always remain, but the fact is
that consumption in India is growing faster. For any brand, if they are focused on their
innovations, according to market requirements with regards to styling as well as pricing,
there is enough scope.”
 Designer Chaitali Giri opined that any kind of positive competition is good for the Indian
market. Brands need to realize the fact that international brands are choosing India as a
potential market, as the demand is ever increasing. They need to understand what
interests the Indian customer. It may vary from different USPs to different designs and
identity. Indian brands should avoid copying; rather get inspiration from these
international brands.
 A point that has been noticed is the increasing prices of cotton and yarn, which is a major
concern for Indian brands. Global brands are introducing comparatively cheaper pricing
to draw the attention of consumers.
 With intent to sustain the market, manufacturers of knitwear in India are promoting new
designs periodically. Furthermore, they are adapting innovative marketing strategies to
reach out to their target customers and enhance their position in the market. Models and
celebrities are being employed to display the wide range of knitwear products by many
organized players. Apart from this, the youth of the generation are aware of the latest
trends. Therefore, many brands are trying to meet with the aspirations of these desires by
introducing fresh and quirky designs, while adhering to quality of the product.