If reports are to be believed then India’s apparel market is expected to note threefold rise from US $ 59 billion in 2015 to US $ 180 billion by 2025 while China is expected to lead the market at US $ 615 billion by 2025, growing at a CAGR of 10 per cent as compared to US $ 237 billion in 2015.
Indian apparel market will emerge as the fastest growing, expanding at a compounded annual growth rate (CAGR) of 11.8 per cent and the consumption will also go up. This has been stated in a global textile report by Axis Direct.
Apparel market in China is expected to expand at a CAGR of 10 per cent as compared to US $ 237 billion in 2015. The report has also predicted that India and China may cross Europe and US in terms of consumption by 2025.
India and China jointly expected to use apparel worth US $ 795 billion growing by a CAGR of 10 per cent. While the US and Europe by 2025 will have a market size of US $ 775 billion with a growth rate of 1.5 per cent.