UK: Trends in global apparel manufacturing - report
Revenues in the global apparel manufacturing industry are expected to grow by around 3.5% a year over the next five years according to new research, with demand boosted by a rising population with more disposable income.
The 'Global Apparel Manufacturing' report from IBISWorld also forecasts a continuation of the trend for Chinese firms to set up their own brand names and open stores in foreign markets.
And it says that given the competitive strength of China, the success of other low-cost source countries depends on their ability to develop an advantage in single product categories.
There is also good news for producers in Europe and the US, who should see a rise in niche exports to India and China, driven by increasing demand for high quality apparel from their growing affluent and middle classes.
US and EU manufacturing firms may also find new opportunities to build their businesses by developing high-end products like tailored women's suits and jackets, the report says.
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