08 November 2023, Mumbai

The United Arab Emirates (UAE) is a major market for India's ready-made garments (RMG) sector. In 2022–23, the UAE was the top buyer of Indian RMG in the Middle East and Africa (MEA) region, importing more than $1.21 billion worth of clothing.

Factors driving demand for Indian RMG in the UAE

Several factors are driving demand for Indian RMG in the UAE. These include:

The large Indian diaspora in the UAE. An estimated 3.5 million Indians are living in the UAE, making it the largest Indian community outside of India.

The UAE's growing economy and rising disposable incomes

The UAE's position as a regional trade hub

The UAE's strong demand for high-quality, affordable clothing

India's RMG exports to the UAE

India's RMG exports to the UAE have been growing in recent years. In 2022–23, India exported a total of $2.68 billion worth of RMG to the MEA region, of which $1.21 billion went to the UAE.

Challenges faced by India's RMG sector in the UAE

Despite the strong demand for Indian RMG in the UAE, there are several challenges that the sector faces. These include:

Competition from other countries, such as China and Bangladesh.

Rising input costs.

Infrastructure bottlenecks.

The outlook for India's RMG exports to the UAE

Despite the challenges, the outlook for India's RMG exports to the UAE remains positive. The UAE is a growing market for RMG, and India is well-positioned to capitalize on this growth.

Key opportunities for India's RMG sector in the UAE

There are several key opportunities for India's RMG sector in the UAE. These include:

Targeting the Indian diaspora in the UAE.

Focusing on high-value products.

Investing in branding and marketing.

Participating in trade shows and exhibitions.

India's RMG sector is poised for continued growth in the UAE

With its strong demand for RMG and its growing economy, the UAE is a promising market for India's RMG sector. 

By addressing the challenges that it faces and taking advantage of the available opportunities, India's RMG sector is poised for continued growth in the UAE.

5 key insights :

• Top buyer in MEA
• Driven by diaspora, economy, trade hub
• Strong demand for high-quality, affordable clothing
• Challenges: competition, input costs, infrastructure
• Outlook positive: growing market, India well-positioned

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06 November 2023, Mumbai

Key Findings

• Global apparel imports continued to decline in August and September 2023, with the US, EU, UK, and Japan all reporting lower import figures.
• Online apparel sales growth was modest, with the US seeing a 1% increase in Q2 2023 year-on-year and the UK seeing a 10% decline in August 2023 year-on-year.
• China lost market share in the UK and Japan, while Bangladesh and Vietnam gained market share.
• Monthly apparel store sales have slightly increased in the UK and the US in recent months, both online and offline.

Country-by-Country Breakdown

US

• Apparel imports fell by 25% in August 2023 year-on-year, reaching $7.8 billion.
• Online apparel sales grew by 1% in Q2 2023 year-on-year.
• Monthly apparel store sales reached $18.2 billion in September 2023, a 10% increase from September 2022.

EU

• Apparel imports fell by 23% in August 2023 year-on-year, reaching $8.2 billion.
• Year-to-date apparel imports were 10% lower than in 2022.

UK

• Apparel imports fell by 14% year-to-date, with August 2023 imports totaling $1.8 billion, a 10% decrease from the previous year.
• Online apparel sales fell by 10% in August 2023 year-on-year.
• China lost 6% of its market share in the UK, while Bangladesh gained 2% since 2021.

Japan

• Apparel imports shrank by 14% in August 2023 year-on-year, amounting to $2.4 billion.
• Year-to-date apparel imports were 2% lower than in 2022.
• China’s share in Japan dropped by 7%, while Vietnam’s share rose by 2% since 2021.

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OUTLOOK

The global apparel market recovery is still underway, but the pace of recovery has slowed in recent months. This is likely due to several factors, including the ongoing war in Ukraine, rising inflation, and supply chain disruptions. 

However, there are some positive signs, such as the recent increase in monthly apparel store sales in the UK and the US.

It is too early to say when the global apparel market will fully recover. However, the market is facing several challenges. Apparel brands and retailers must adapt to the changing market landscape to remain successful.

5 key insights:

• Global apparel imports decline: Continued decline in August and September 2023, with all major markets reporting lower figures.
• Online apparel sales growth modest: 1% increase in the US in Q2 2023 year-on-year, but 10% decline in the UK in August 2023 year-on-year.
• China loses market share: 6% loss in the UK and 7% loss in Japan since 2021, while Bangladesh and Vietnam gain market share.
• Monthly apparel store sales slightly increase: In the UK and the US in recent months, both online and offline.
• Global apparel market recovery slows: Due to factors such as the war in Ukraine, rising inflation, and supply chain disruptions.

CREDITS: WAZIR OCTOBER REPORT

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01 November 2023, Mumbai

Y India

COVID-19 accelerates digital transformation

The COVID-19 pandemic has quite certainly accelerated the digital transformation of the Indian fashion industry across the board, with brands investing aggressively in e-commerce, social media marketing, and virtual try-on experiences. 

This trend is expected to continue, with more brands adopting innovative technologies to reach and engage customers.

E-commerce is on the roll

Online fashion sales in India are anticipated to hit $14.4 billion by 2023, striding at a compound annual growth rate (CAGR) of 18.5%. 

What solely drives growth today is the convenience of online/digital shopping, attractive discounts, promotions, value propositions, and a vast range of choices.

Social media marketing is essential

Social media has become an essential tool for fashion brands to market their products and engage with customers. 

Brands are using social media to share new collections, run promotions, and build relationships with their followers.

Virtual try-on experiences become popular

Emerging technologies such as augmented reality (AR) and virtual reality (VR) are enabling consumers to virtually try on clothes and accessories, reducing the need for physical trials. 

This is especially popular among younger consumers, who are more comfortable shopping online.

More and more brands will embrace and adopt innovative technologies

Operating efficiency for the overall enterprise health: In the future, we can expect to see very aggressive Indian fashion brands adopting innovative technologies to enhance their operational efficacy and reach a wider audience, improving customer satisfaction to her delight.

For instance, brands may use artificial intelligence (AI) to personalize recommendations and improve customer service.

5 key insights:

• COVID accelerates digital transformation
• E-commerce booms, online sales to hit $14.4B by 2023
• Social media marketing becomes essential
• Virtual try-on experiences gain popularity
• Brands adopt innovative technologies

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08 November 2023, Mumbai

The world of textiles is undergoing a radical transformation as new and innovative fibers emerge to meet the needs of a growing population. These futuristic fibers offer solutions to the challenges of sustainability, functionality, and aesthetics that the fashion industry faces.

The Textile Revolution: Futuristic Fibers for a Sustainable Future

In this article, we will explore the cutting-edge developments and discoveries in fiber science that are revolutionizing the textile sector and examine how traditional materials are evolving to adapt to or compete with these new alternatives.

Cutting-Edge Fiber Science: A Paradigm Shift in Textiles

One of the most significant advancements in fiber technology is the development of bio-based fibers. These fibers are derived from renewable resources such as plant-based materials or agricultural waste, offering a sustainable alternative to traditional petroleum-based fibers.

Biobased fibers

Bio-based fibers are not only environmentally friendly, but they also possess unique properties that make them attractive for fashion applications. For instance, cellulose-based fibers like Tencel and Modal offer a soft, silky feel and excellent moisture-wicking properties, while hemp and flax fibers provide durability and breathability.

Bio-based Fibers: A Sustainable and Versatile Alternative

Another area of innovation is the development of nanofibers, which are fibers with diameters in the nanometer range. These ultra-fine fibers offer exceptional properties, including high strength, lightweight, and the ability to incorporate functional nanoparticles for enhanced performance.

Nanofibers

NARRATOR: Nanofibers have the potential to revolutionize a wide range of applications, including medical textiles, filtration systems, and protective clothing. In the fashion industry, nanofibers can be used to create lightweight, breathable fabrics with enhanced durability and stain resistance.

Nanofibers: Unveiling the Power of Ultra-Fine Fibers

Traditional fibers are also evolving to adapt to the changing demands of the fashion industry. Cotton, for instance, is undergoing a transformation through biotechnology, resulting in varieties with enhanced properties such as improved wrinkle resistance and moisture management.

Cotton fibers

Additionally, synthetic fibers are being modified to incorporate recycled materials, reducing their environmental impact and promoting circularity in the textile industry.

Evolving Traditions: Innovation in Conventional Fibers

The future of fibers is bright and promising. With continuous advancements in fiber science and technology, we can expect to see even more innovative materials that address the needs of sustainability, functionality, and aesthetics, shaping the future of the fashion industry.

A Future of Possibilities: Innovation Driving the Textile Landscape

Key insights :

1. Sustainable Fibers: Bio-based fibers offer a sustainable alternative to traditional petroleum-based fibers.

2. Functional Fibers: Nanofibers have exceptional properties, including high strength, lightweight, and the ability to incorporate functional nanoparticles for enhanced performance.

3. Evolving Traditions: Cotton is transforming biotechnology, resulting in varieties with enhanced properties such as improved wrinkle resistance and moisture management.

4. Circularity: Synthetic fibers are being modified to incorporate recycled materials, reducing their environmental impact and promoting circularity in the textile industry.

5. Innovation: The future of fibers is bright and promising, with continuous advancements in fiber science and technology that will shape the future of the fashion industry.

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04 November 2023, Mumbai

Why India

For centuries, textiles have been an integral part of India's economy and culture. In recent years, the Indian textile industry has experienced significant growth and modernization, and the establishment of mega textile hubs is a pivotal strategy to further elevate India's status as a premier global textile hub.

Growth Accelerants

Mega textile hubs offer several advantages, including scale, competitiveness, and innovation. 

By bringing together various components of the textile value chain in one location, these hubs create economies of scale and bolster the industry's overall competitiveness. 

Additionally, mega textile hubs facilitate the exchange of ideas, technologies, and best practices, which fosters innovation and the development of cutting-edge products and processes.

The establishment of mega-textile hubs also results in the creation of substantial employment opportunities, especially in regions with higher unemployment rates. 

Vocal For Local

The "Make in India" initiative has been instrumental in attracting foreign direct investment (FDI) into the manufacturing sector, and mega textile hubs are poised to play a key role in India's transformation into a global manufacturing powerhouse.

Conclusion:

Kickers: Mega textile hubs are a strategic investment for India's future. By leveraging their advantages of scale, competitiveness, and innovation, these hubs can help India become a global leader in the textile industry. 

Additionally, mega-textile hubs can create millions of jobs and boost the Indian economy.

5 key insights :

• Growth accelerants: Scale, competitiveness, innovation
• Employment opportunities: Substantial, underserved regions
• Vocal for Local: Make in India, global powerhouse
• Strategic investment: Future of India's textile industry
• Kickers: Jobs, boost economy

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31 October 2023, Mumbai

Growing Environmental Concerns Driving Market Growth

The vegan footwear market is projected to grow from US$30,072.1 million in 2023 to US$60,992.6 million by 2033, expanding at a CAGR of 7.3%. 

One of the key factors driving this growth is the increasing environmental concern among consumers. 

According to a 2022 survey by GlobalWebIndex, 67% of global internet users are willing to pay a premium for sustainable products.

Vegan Footwear as an Eco-Friendly Alternative

Vegan footwear is a more sustainable alternative to traditional leather footwear, which requires harmful chemicals and produces a large carbon footprint. 

The production of vegan footwear uses sustainable materials such as recycled plastics, organic cotton, and mushroom leather.

Government Regulations and Growing Vegan Population Bolstering Market Growth

Government regulations on leather products and the growing vegan population are also contributing to the growth of the vegan footwear market. 

For example, in 2022, the Indian government banned the export of leather and fur products from the country. This ban is expected to boost the demand for vegan footwear in India.

Increasing Need for Industrial Carbon Footprint Reduction to Fuel Market Growth

The footwear industry is one of the major contributors to carbon emissions. However, with the growing demand for sustainable products, several footwear companies are taking steps to reduce their environmental impact. 

For example, Nike has committed to reducing its carbon footprint by 50% by 2030.

Commerce Platforms Fueling Market Revenue

The availability of vegan footwear products on e-commerce platforms such as Amazon, Flipkart, and eBay is also contributing to the market's growth. 

These platforms provide a convenient and easy way for consumers to purchase vegan footwear.

Country-wise Insights

Germany is leading the European Vegan Footwear Market

Germany is the leading market for vegan footwear in Europe, with a market size of US$ 26.14 billion in 2030. This is due to the growing demand for vegan products and the high number of vegans in the country.

India: A Favorable Market for Vegan Footwear Products

India is a favorable market for vegan footwear products due to the growing demand for plant-based products and the high percentage of the vegan population. 

The country also has a high demand for shoes and handicrafts.

Competitive Landscape

The vegan footwear market is highly competitive, with several players operating in the space. Some of the key players include Nike, Adidas, VF Corporation, and PAIO.

These companies are investing in innovation and design to differentiate themselves in the market.

Outlook

The vegan footwear market is expected to grow in the coming years, driven by increasing environmental concerns, government regulations, and the growing vegan population.

Growing Environmental Concerns Driving Market Growth

The vegan footwear market is projected to grow from US$30,072.1 million in 2023 to US$60,992.6 million by 2033, expanding at a CAGR of 7.3%. 

One of the key factors driving this growth is the increasing environmental concern among consumers. According to a 2022 survey by GlobalWebIndex, 67% of global internet users are willing to pay a premium for sustainable products.

Vegan Footwear as an Eco-Friendly Alternative

Vegan footwear is a more sustainable alternative to traditional leather footwear, which requires harmful chemicals and produces a large carbon footprint. 

The production of vegan footwear uses sustainable materials such as recycled plastics, organic cotton, and mushroom leather.

Government Regulations and Growing Vegan Population Bolstering Market Growth

Government regulations on leather products and the growing vegan population are also contributing to the growth of the vegan footwear market. 

For example, in 2022, the Indian government banned the export of leather and fur products from the country. This ban is expected to boost the demand for vegan footwear in India.

Increasing Need for Industrial Carbon Footprint Reduction to Fuel Market Growth

The footwear industry is one of the major contributors to carbon emissions. However, with the growing demand for sustainable products, several footwear companies are taking steps to reduce their environmental impact. 

For example, Nike has committed to reducing its carbon footprint by 50% by 2030.

Commerce Platforms Fueling Market Revenue

The availability of vegan footwear products on e-commerce platforms such as Amazon, Flipkart, and eBay is also contributing to the market's growth. These platforms provide a convenient and easy way for consumers to purchase vegan footwear.

Country-wise Insights

Germany is leading the European Vegan Footwear Market

Germany is the leading market for vegan footwear in Europe, with a market size of US$ 26.14 billion in 2030. This is due to the growing demand for vegan products and the high number of vegans in the country.

India: A Favorable Market for Vegan Footwear Products

India is a favorable market for vegan footwear products due to the growing demand for plant-based products and the high percentage of the vegan population. 

The country also has a high demand for shoes and handicrafts.

Competitive Landscape

The vegan footwear market is highly competitive, with a number of players operating in the space. 

Some of the key players include Nike, Adidas, VF Corporation, and PAIO. These companies are investing in innovation and design to differentiate themselves in the market.

Outlook

Vegan Footwear Market to Reach US$ 60.99 Billion by 2033, Expanding at a CAGR of 7.3%

The vegan footwear market is expected to grow in the coming years, driven by increasing environmental concerns, government regulations, and the growing vegan population.

Key points:

• The vegan footwear market is projected to grow from US$ 30,072.1 million in 2023 to US$ 60,992.6 million by 2033, expanding at a CAGR of 7.3%.
• One of the key factors driving this growth is the increasing environmental concern among consumers.
• Vegan footwear is a more sustainable alternative to traditional leather footwear, which requires harmful chemicals and produces a large carbon footprint.
• Government regulations on leather products and the growing vegan population are also contributing to the growth of the vegan footwear market.
• The footwear industry is one of the major contributors to carbon emissions, but several footwear companies are taking steps to reduce their environmental impact.
• The availability of vegan footwear products on e-commerce platforms is also contributing to the market's growth.
• Germany is the leading market for vegan footwear in Europe, with a market size of US$ 26.14 billion in 2030.
• India is a favorable market for vegan footwear products due to the growing demand for plant-based products and the high percentage of the vegan population.
• The vegan footwear market is highly competitive, with several players operating in the space. Some of the key players include Nike, Adidas, VF Corporation, and PAIO.

CREDITS: Future Market Insights report

Latest Textile Events

07 November 2023, Mumbai

The Challenge of Traceability in the Fashion Supply Chain

The fashion industry faces the challenge of limited visibility and engagement with the different actors involved in forest-level operations. This makes it difficult to trace the origin and impact of raw materials. 

Video Insights

Traceability is essential for ensuring that sustainability efforts are effective. It allows businesses to understand the social and environmental impacts of their clothing choices and make informed sourcing decisions.

Grasim Industries as a Model Partner

Grasim Industries is a key player at the start of the supply chain for man-made cellulosic fibers (MMCFs) such as viscose and lyocell. 

The company is committed to sourcing wood from suppliers who comply with credible forest certification standards, such as the Sustainable Forestry Initiative (SFI®) and the Programme for the Endorsement of Forest Certification (PEFC™). 

This certification ensures that the wood used to produce Grasim's MMCFs is sourced from responsibly managed forests.

Certification as the Cornerstone of Responsible Sourcing

Red-letter moments; Certification is essential for ensuring sustainable sourcing in the fashion industry. It provides third-party verification that materials have been sourced according to rigorous environmental and social standards. 

Certification also fosters transparency and accountability, giving businesses and consumers confidence that the products they buy are truly sustainable.

Sum and Substance

By working with reliable partners like Grasim Industries and choosing PEFC-certified MMCFs, retailers can improve the traceability of the materials they use in their collections and support sustainable forest management.

"The Challenge of Traceability in the Fashion Supply Chain" Insights:

• Fashion industry needs traceability.
• Traceability ensures sustainability.
• Grasim Industries sources responsibly.
• Certification is key to sustainability.
• Retailers can support sustainability.

Latest Textile Events

03 November 2023, Mumbai

• The ready-made garment (RMG) sector sees a sharp fall of 22.6% from April to August 2023, compared to the same period last year.
• The textile sector also faces a 2% drop in production during this period.
• The Index of Industrial Production for Textiles and Clothing (T&A) shows a slight increase of 1.6% in textile output, but this is offset by a lower index in April.
• The RMG segment suffered a huge decline of 17.1% in August 2023 and 22.6% in the April–August 2023 period, compared to the previous year.

Reasons for the Decline

Video Insights

• The government's new Quality Control Order requires man-made fibers, including imported ones, to have a Bureau of Indian Standards certification. This makes it difficult for local textile makers to get these materials from abroad at affordable prices and availability.
• Garment exporters lack orders, leading to lower output without major job losses.

Possible Solutions

• The recent increase in duty drawbacks may help boost exports in a slow market.
• The apparel industry hopes for more sales during Diwali and the wedding season.
• Clothing Manufacturers Association of India (CMAI) to organize “Brands of India,” the largest show of Indian apparel brands in Dubai in November 2023, to support the weak economy.

If the production trend continues, it could result in more job losses, especially for lower and middle-income groups.

Key Insights:

1. RMG sector plunges 22.6% in 2023.
2. Textile production drops 2%.
3. Slight textile output increase offset.
4. RMG segment declines 17.1% in August.
5. Challenges and solutions discussed.

Latest Textile Events

30 October 2023, Mumbai

India's Fashion Industry: A Growing Magnet for Global Brands

India is rapidly becoming a global center for fashion, attracting global brands with its unique blend of tradition and innovation, young and dynamic population, and growing middle class.

Video Insights

Five Reasons Why Global Brands are Flocking to India

• Large and growing population: India has a population of over 1.4 billion, with a middle class expected to reach 547 million by 2025. This represents a huge and growing market for global fashion brands.
• Positive spending patterns and high brand awareness: Indian consumers are known for their positive spending patterns and high brand awareness. They are increasingly opting for quality and branded products, creating a fertile landscape for global fashion brands.
• Growing e-commerce market: India's e-commerce market is booming, creating new opportunities for fashion retailers and manufacturers to reach a wider audience. This is particularly beneficial for global brands, which can leverage their online presence to tap into India's growing e-commerce market.
• Rising incomes: Rising incomes, increasing brand awareness, and internet access are motivating Indian consumers to buy quality brands. This trend is fueling the growth of India's fashion industry and making it a lucrative market for global brands.
• Global issues: Global issues, such as de-globalization, have encouraged the international clothing and fashion industry to explore India's growth story, thus extending its global reach. 

This is providing global fashion brands with new opportunities to expand their operations into India.

Optimistic Outlook for India's Fashion Industry

The outlook for India's fashion industry is optimistic, as evidenced by the entry of numerous international brands into the market. 

While some brands have faced challenges adapting to the local context, India remains a prominent growth opportunity for the global luxury market.

Conclusion

A Lucrative Market for Global Fashion Brands: India's vibrant and diverse fashion culture, combined with its status as one of the world's fastest-growing and most competitive fashion markets, is making it a magnet for global brands. 

Global fashion brands are increasingly recognizing India's potential and are investing in the country to tap into its growing market.

5 key insights:

• Young and dynamic population
• Growing middle class
• Rising incomes
• Global brands attracted
• Lucrative market

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