China and India will become the world's largest garment bags market in 2025

According to a recent report, China and India are expected to become the main centers of growth in apparel consumption by 2025, and the combined apparel market in China and India will become the largest market, exceeding the United States and the European Union.

The report issued by Wazir Management Consultant is titled "Road to 2025: Textiles and Apparel Industry Report". The report points out: "The combined apparel market in China and India will reach 740 billion U.S. dollars by 2025, exceeding the U.S. and EU market in 2025. Add 725 billion U.S. dollars in size.

According to the report, the size of the clothing market in China and India is currently estimated at US$150 billion and US$45 billion, respectively. Both markets have shown strong growth despite global uncertainties and slowing demand.

From 2007 to 2012, the Chinese market grew by 15% year-on-year, while the Indian market grew slightly lower at 12%.

However, China and India have outperformed other major consumer regions (the United States, the European Union, and Japan), and the economic conditions in the United States, the European Union, and Japan have led to lower demand growth.

The report said: "Asia has become the world's largest manufacturing and supply center for textiles and apparel products. The region is about to enter a new phase and its consumption of textiles and apparel products will be huge."

According to the report, economic and consumer incomes in the important garment-consuming regions of these two countries have grown rapidly, and domestic brand development has provided support for market development. The online retail of these two countries has developed rapidly.

The report also said that the consumption levels of the two countries will increase because Chinese consumers' preferences are changing. They prefer fashion. In India, organized retail sales are increasing and branded goods are also developing.