08 September 2023, Mumbai

An overview

• The Indian textile industry has a long and rich history.
• It is one of the largest and most diverse textile industries in the world.
• The industry has been growing rapidly in recent years.
• Mega textile hubs are playing a crucial role in the growth of the Indian textile industry.

Textile hubs ignite economic growth

• Mega textile hubs are large industrial parks that bring together all the elements of the textile value chain under one roof.
• This includes raw material suppliers, manufacturers, exporters, and retailers.
• By bringing together all these players in one place, mega textile hubs create economies of scale and boost efficiency.
• They also make it easier for businesses to collaborate and innovate.

Innovation: The key to success

• The textile industry is constantly evolving, and innovation is essential for success.
• Mega textile hubs provide a conducive environment for innovation by bringing together businesses, researchers, and designers.
• This collaborative ecosystem helps to develop new products and processes that meet the needs of consumers.

Employment and investment opportunities

• Mega textile hubs create significant employment opportunities, especially in rural areas.
• They also attract foreign investment, which brings capital and technology into the country.
• This helps to boost economic growth and create jobs.

Sustainability: A top priority

• The textile industry is a major polluter, so sustainability is a top priority.
• Mega textile hubs can lead the way by adopting sustainable practices such as recycling and water conservation.
• This will help to protect the environment and ensure the long-term sustainability of the industry.

Policy support: The way forward

• The Indian government plays a crucial role in supporting the development of mega textile hubs.
• The government can provide financial assistance, create a favorable regulatory environment, and promote public-private partnerships.
• By taking these steps, the government can help to make India a global leader in the textile industry.

Wrap up

Mega textile hubs are a key driver of growth in the Indian textile industry. They offer a number of advantages, including economies of scale, innovation, employment opportunities, and investment. 

The Indian government can play a crucial role in supporting the development of mega textile hubs.

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06 September 2023, Mumbai

The global industrial workwear market is projected to grow at a CAGR of 5.9% from 2023 to 2033.

The market is driven by the increasing demand for safety and comfort in the workplace, the growing awareness of occupational hazards, and the increasing adoption of smart industrial workwear.

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Key Dynamics
Increasing cases of occupational hazards: Workers in manufacturing and related industries are becoming more aware of occupational hazards, and as a result, employers are imposing a safer workplace.

This is driving the demand for industrial workwear that provides protection from hazards such as fire, chemicals, and falls.
Changing customer preferences:

Consumers are increasingly demanding workwear that is comfortable, stylish, and functional. This is leading manufacturers to develop new and innovative workwear products that meet these demands.
Increasing rate of ergonomically designed products:

Ergonomically designed workwear helps to reduce stress on the body and improve productivity. This is a key trend in the industrial workwear market, and it is expected to continue to grow in the coming years.
Country-wise Insights
United States: The US is the largest market for industrial workwear, and it is expected to continue to grow in the coming years. This is due to the large number of manufacturing and industrial companies in the US, as well as the high awareness of occupational hazards.
China:

China is the second-largest market for industrial workwear, and it is expected to grow at a rapid pace in the coming years. This is due to the country's growing manufacturing sector and the increasing awareness of occupational hazards.
India:

India is a rapidly growing market for industrial workwear, and it is expected to experience significant growth in the coming years. This is due to the country's growing manufacturing sector and the increasing awareness of occupational hazards.
Category-wise Insights
Top wear: Top wear is the most popular type of industrial workwear, and it is expected to remain the dominant category in the coming years. This is due to the fact that top wear provides protection for the upper body, which is the most vulnerable part of the body in many industrial settings.
Bottom wear:

Bottomwear is the second most popular type of industrial workwear, and it is expected to grow at a steady pace in the coming years. Bottom wear provides protection for the lower body, which is also vulnerable to injury in industrial settings.
Overalls:

Overalls are a type of industrial workwear that covers the entire body. They are typically used in industries where there is a high risk of exposure to hazardous materials or chemicals. Overalls are expected to grow at a moderate pace in the coming years.
Distribution Channel Insights
Direct sales: Direct sales is the most popular distribution channel for industrial workwear. This is because it allows manufacturers to sell their products directly to businesses and organizations.
Retail sales:

Retail sales are the second most popular distribution channel for industrial workwear. This is because it allows consumers to purchase industrial workwear from brick-and-mortar stores.
Online sales:

Online sales are expected to grow at a rapid pace in the coming years. This is due to the increasing popularity of online shopping and the convenience of purchasing industrial workwear online.
Synopsis
The global industrial workwear market is expected to grow at a CAGR of 5.9% from 2023 to 2033. The market is driven by the increasing demand for safety and comfort in the workplace, the growing awareness of occupational hazards, and the increasing adoption of smart industrial workwear.
Here are some of the key trends that are expected to shape the global industrial workwear market in the coming years:
The increasing demand for smart industrial workwear that is equipped with features such as GPS tracking, heart rate monitoring, and fall detection.
The growing adoption of sustainable materials in the production of industrial workwear.
The increasing popularity of online sales of industrial workwear.
The global industrial workwear market is a dynamic and growing market. The market is expected to continue to grow in the coming years, driven by the factors mentioned above.

CREDITS: Future Market Insights report

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04 September 2023, Mumbai

Vietnam's exports: Challenges and opportunities

Vietnam's exports have faced a number of challenges in recent years, including high inventory levels in key export destinations, weakened global demand, and underutilized manufacturing capacity. 

However, there are also a number of opportunities for Vietnam's exports, such as the normalization of US inventories, the relocation of manufacturing from China, and a surge in FDI interest in Vietnam.

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Challenges

High inventory levels: One of the main challenges facing Vietnam's exports is the high inventory levels in key export destinations, such as the United States. 

This is due to the COVID-19 pandemic, which caused disruptions to supply chains and led to businesses overstocking. As a result, there is less demand for imports from Vietnam.

Weakened global demand: Another challenge facing Vietnam's exports is the weakened global demand for key export items, such as electronics and textiles. This is due to the ongoing conflict in Ukraine and the rising inflation, which is reducing consumer spending.

Underutilized manufacturing capacity: 

A third challenge facing Vietnam's exports is the underutilized manufacturing capacity. 

This is because a significant portion of the manufacturing capacity in Vietnam is still under construction, due to recent waves of investment.

Opportunities

Normalization of US inventories: One of the main opportunities for Vietnam's exports is the normalization of US inventories. 

This means that businesses in the United States are starting to reduce their inventories, which will create demand for imports from Vietnam.

Relocation of manufacturing from China: Another opportunity for Vietnam's exports is the relocation of manufacturing from China. 

This is due to the rising labor costs in China and the increasing trade tensions between China and the United States. 

Vietnam is seen as an attractive alternative to China for manufacturing, due to its lower labor costs and its strategic location.

A surge in FDI interest in Vietnam: There is also a surge in FDI interest in Vietnam. 

This is due to the country's favorable investment climate, such as its low taxes and its open trade policies. FDI can help to boost Vietnam's exports by bringing in new investment and technology.

Outlook

Overall, the outlook for Vietnam's exports is positive. The challenges facing Vietnam's exports are expected to ease in the coming months, and the opportunities are expected to outweigh the challenges. 

However, there are some risks to the recovery, such as a global economic downturn or rising protectionism.

Short Message

Vietnam's exports face a number of challenges, but there are also a number of opportunities. The outlook for Vietnam's exports is positive, but there are some risks to the recovery.

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07 September 2023, Mumbai

Bird’s eye view:
o The global industrial workwear market is estimated to be worth US$17.3 billion in 2023 and is projected to reach US$30.8 billion by 2033, growing at a CAGR of 5.9%.
o The market is driven by the increasing demand for safety and comfort in the workplace, the growing awareness of occupational hazards, and the increasing adoption of smart industrial workwear.
Key Dynamics in the Industrial Workwear Market Worldwide
o Increasing Cases of Occupational Hazards
 Workers in manufacturing and related industries are becoming more aware of occupational hazards, and as a result, employers are imposing a safer workplace.
 Workwear is crucial in ensuring that people are working and performing in a safe atmosphere.
Changing Customer Preferences Towards Smart Industrial Workwear
 Manufacturers in the industrial workwear market have been spending a lot on product development in recent years, trying to find more robust ways to secure consumers.
 Most current workwear comes with multi-purpose facilities such as sweat-proof fabric, multiple pockets for carrying, fireproof materials, etc.
Increasing Rate of Ergonomically Designed Products
 One of the most recent trends in the protective workwear market is the rise of ergonomically designed safety clothing.
 Men's industrial safety clothing with ergonomic designs helps lessen stress on the body and gives it adequate support.
Country-wise Insights
USA
 The US population is expected to be one of the largest consumers in the industrial workwear market by the year 2033.
 Demand for high-performance fabrics with moisture management and thermal regulation capabilities is growing in a variety of industries, including automotive, petrochemicals, construction, mining, and logistics.
China
 With the growing penetration of significant firms in the region, China has been a potential market for industrial workwear.
 The expanding use of industrial workwear in China is a result of the country's growing manufacturing and service sectors.
India
 The industrial workwear market in India is experiencing strong growth as a result of a number of factors.
 The increased demand for safe, ergonomic, and long-lasting workwear is one of the major reasons driving the market in India.
Category-wise Insights
o Top Wear Industrial Workwear
 Top wear industrial workwear is gaining market share over other products.
 Players in the industry offer a variety of consumer-friendly safety features.
o Service Industry
 The service Industry is the most prominent end-use industry in the industrial workforce.
 The category is expected to increase at a faster rate in the coming years, due to factors such as the fact that workwear uniforms help users stand out from the crowd.
Distribution Channel
o Multiple distribution channels are used to sell industrial workwear, including direct sales, online sales, and offline sales.
o Online sales are expected to grow at the fastest rate in the coming years, due to the increasing popularity of online shopping.

5 Key Insights:

• Market size: US$17.3 billion in 2023, US$30.8 billion by 2033
• Drivers: Safety, comfort, smart features
• Key trends: Ergonomics, high-performance fabrics, growing service sector
• Category: Top wear gaining market share
• Distribution: Online sales to grow fastest

CREDITS: Future Market Insights report.

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05 September 2023, Mumbai

Market Overview

• The global cotton candy machines market is expected to be worth US$ 108.4 billion in 2023.
• The market is projected to grow at a CAGR of 4.62% between 2023 and 2033, anticipated to be valued at around US$ 170.4 billion by 2033.
• Key drivers of market growth include rising demand for sugar-free candies, increasing number of new product developments, and growing popularity of cotton candy machines in emerging markets.

Key Trends

• Manufacturers are focusing on designing cost-effective and technologically advanced machines.
• There is a growing demand for portable and easy-to-use cotton candy machines.
• Companies are increasingly launching sugar-free and organic candies to meet the growing health consciousness of consumers.

Regional Analysis

• North America is the largest market for cotton candy machines, followed by Europe and Asia Pacific.
• The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period, driven by the increasing popularity of chocolate-based confectionery goods and the growing population in the region.

Challenges

• High maintenance costs and complex installation procedures are some of the challenges that could hinder the growth of the market.
• The market is also facing competition from other confectionery products, such as lollipops and ice cream.

Short Message

Overall, the global cotton candy machines market is expected to grow steadily in the coming years. 

The market is being driven by the increasing demand for sugar-free candies, the growing popularity of cotton candy machines in emerging markets, and the rising number of new product developments.

The global cotton candy machines market is expected to grow at 4.62% CAGR to reach $170.4 billion by 2033, driven by rising demand for sugar-free candies and increasing popularity in emerging markets.

CREDITS: Future Market Insights report

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02 September 2023, Mumbai

Retail sales in India have grown 9% YoY, as reported by the Retailers Association of India (RAI). QSRs, food, grocery, jewelry, and sports goods were the main drivers of growth, while apparel sales grew 8%. The report also indicates a rise in online-to-offline shopping.

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Data points

South India saw the highest growth at 12%, followed by West India at 9%.

Apparel sales grew 8%, whereas End-of-season sales boosted sales in July. Retailers saw an uptick in business activity in the final week of July. 

This was largely attributed to the commencement of their end-of-season sales. 

End-of-season sales boost sales in July

Retailers saw an uptick in business activity in the final week of July, largely attributed to the commencement of their end-of-season sales. 

This is in line with the global trend, as apparel retail sales have surged in the US and other countries.

Online-to-offline shopping becoming common

As consumer routines return to normalcy, a pattern of online-to-offline shopping is emerging. Customers are exploring products online but making purchases in physical stores. 

This is a positive sign for the retail industry, as it suggests that consumers are still willing to shop in person.

Apparel retail surges globally

2022 has been a good year for fashion retailers across the globe. Sales revenues of apparel retail in the US increased 36.37% over 2020. Growth continues in 2022 with apparel retail sales surging 13.76% from January to April ’22 to $81 billion. 

This is due to a number of factors, including the return of social events, the increasing popularity of athleisure, and the growing demand for sustainable clothing.

Retailers in India hope for a good festive season

This year’s festive season is expected to be different from the last two years as there are no COVID-19 restrictions. 

Footfalls at both standalone retail outlets and shopping malls are expected to increase steadily. Retailers are optimistic about the upcoming season and are gearing up to meet the demand.

Prognosis

Early indications suggest that the upcoming festive season will be a busy one for retailers

Online-to-offline shopping becoming common

Phydigital 

As consumer routines return to normalcy, a pattern of online-to-offline shopping is emerging. Customers are exploring products online but making purchases in physical stores. Brands are actively working to create a favorable shopping environment for customers as confidence keeps improving by the day given pre-festive season sales.

Conclusion

The Indian retail industry is in a good position to capitalize on the upcoming festive season. With no drastic curbs required, shopping malls can anticipate big crowds and retailers can look forward to a good season by adhering to all COVID-19-related norms.

Let's hope Diwali will come early this time!

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07 September 2023, Mumbai

Sabyasachi's New Flagship Store in Mumbai

• Sabyasachi Mukherjee, a renowned Indian fashion designer, has opened a new flagship store in Mumbai.
• The store is located in a restored early 1900s building in the city's financial district.
• The store is a sign of the growing luxury market in India.

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The Growth of the Indian Luxury Market

• The Indian luxury market is growing rapidly.
• By 2027, it is expected to be worth $100 billion.
• This growth is being driven by a number of factors, including:
• The rise of a wealthy middle-class
• The increasing popularity of international brands
• The government's efforts to promote tourism

Sabyasachi's Store

• The Sabyasachi store is located in a Grade IIA heritage status building.
• The building was originally built in 1913 and housed the British Bank of the Middle East.
• The store has been restored to its former glory and features neoclassical design elements.
• The store sells a variety of Sabyasachi's designs, including wedding attire, jewelry, and home decor.

The Future of Luxury Retail in India

• The opening of the Sabyasachi store is a sign of the growing importance of luxury retail in India.
• Other luxury brands, such as Dior and Hermès, have opened stores in Mumbai recently.
• The Indian luxury market is expected to grow in the coming years, and more luxury brands are likely to enter the market.

Long & short

The opening of Sabyasachi's new flagship store is a significant event in the Indian luxury market. 

The store is a sign of the growing wealth and sophistication of India's middle class, and it is likely to attract even more luxury brands to the country in the years to come.

 Latest Textile Events

04 September 2023, Mumbai

The Indian textile and apparel industry is grappling with a decline in exports and a significant loss of jobs. 

Exports of textiles and apparel fell by 13.55% from April to July 2023, amounting to $10,154.83 million. This has led to the loss of millions of jobs in the sector.

Indian textile and apparel industry facing a decline in exports, government considering fiscal incentives.

Government response

The Indian government is considering providing fiscal incentives to the industry by the end of the year. 

These incentives could be channeled through the production-linked incentive (PLI) program, which has been designed to inject financial support into various manufacturing sectors.

PLI program

The PLI program offers incentives to companies that invest in and produce goods in specific sectors. In the case of the textile and apparel industry, the PLI program could be used to incentivize companies to set up new factories or expand existing ones. This would create jobs and help to boost exports.

Industry request

The industry has requested that the government provide incentives specifically aimed at smaller manufacturers. They have also asked the government to reconsider the 11% import duty on certain varieties of cotton. This duty makes it more expensive for Indian manufacturers to produce textiles, which makes them less competitive in the global market.

Concerns

The industry is concerned about potential job losses and is urging the government to take comprehensive measures to support the sector. They are also concerned about the impact of the decline in exports on the overall economy.

The textile and apparel industry is a major employer in India, providing jobs to millions of people. The decline in the industry is having a significant impact on the economy and the livelihood of many people. 

The government needs to take urgent steps to support the industry and prevent further job losses.

In addition to the fiscal incentives and the PLI program, the government could also take other measures to support the textile and apparel industry. 

These measures could include:

• Providing infrastructure support, such as roads, ports, and power, to make it easier for companies to operate in the sector.
• Facilitating access to credit for small and medium-sized enterprises.
• Promoting research and development in the sector.
• Investing in skills training for workers.

By taking these measures, the government can help to revive the textile and apparel industry and create jobs for millions of people.

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01 September 2023, Mumbai

The custom t-shirt printing market is estimated to be worth $3.88 billion in 2023 and is projected to reach $9.88 billion by 2033, at a CAGR of 9.7% from 2023 to 2033.

Key Drivers

The growth of the custom t-shirt printing market is being driven by a number of factors, including:

The rising preference for customized, fashionable, and unique clothing.

The increasing disposable income of young people.

The growing popularity of outdoor sports and other industries.

The use of custom-printed t-shirts to raise social awareness, voice one's opinion, and support a cause.

The growing popularity of e-commerce and the expansion of the apparel industry.

Key Trends

Some of the key trends in the custom t-shirt printing market include:

The increasing use of digital printing techniques.

The growing popularity of pre-printed custom t-shirts.

The expanding demand for unisex t-shirts.

The growing popularity of online sales.

Key Regions

The North American region is the largest market for custom t-shirt printing, followed by Europe and Asia Pacific. The market growth in these regions is being driven by the factors mentioned above.

Key Players

Some of the key players in the custom t-shirt printing market include:

Spreadshirt

CustomInk

Printful

Teespring

Redbubble

CustomCat

Short Message

The custom t-shirt printing market is expected to grow in the coming years, driven by the abovementioned factors. The market is expected to be more competitive in the coming years, as new players enter the market and existing players expand their offerings.

CREDITS: Future Market Insights (FMI) report

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