The apparel knitting industry is a dynamic and evolving sector, with numerous companies globally engaged in knitting apparel or knitting fabric and then manufacturing apparel. This article delves deep into the current trends and challenges faced by the industry, highlighting the top players and the niche markets that are shaping the future of apparel knitting.
1. Overview of the Apparel Knitting Mills Industry
The apparel knitting mills industry encompasses establishments primarily engaged in knitting apparel or knitting fabric and then manufacturing apparel. The industry is known for producing a wide range of products including but not limited to:
- Hosiery and sock mills
- Beachwear
- Underwear
- Athletic wear
- Winter apparel
2. Leading Companies in the Sector
The industry is home to several leading companies globally, with a significant presence in countries such as the USA, the UK, Canada, and India. Here we list some of the top companies along with their key products and annual revenue:
- Nike
- Headquarters: United States
- Key Products: Athletic apparel, sportswear
- Annual Revenue: $37.4 Billion
- Adidas
- Headquarters: Germany
- Key Products: Athletic apparel, sportswear
- Annual Revenue: $25.9 Billion
- PVH Corp.
- Headquarters: United States
- Key Products: Underwear, outerwear
- Annual Revenue: $9.1 Billion
3. Niche Markets in Apparel Knitting
Apart from the major players, the industry also houses niche markets with companies specializing in unique products. Some of the niche markets include:
- Tank Top Knitting Companies
- Lounging Robe and Housecoat Knitting Companies
- Prayer Shall Knitting Companies
- Neck Tie Knitting Companies
4. Industry Trends and Challenges
4.1 Adoption of Smart Knitwear and Smart Fabrics
The industry is witnessing a surge in the adoption of smart knitwear and fabrics, which embed digital components to offer a multi-sensorial experience through lighting and sounds. The global smart fabrics market is projected to grow at a CAGR of 30.4% by 2025.
4.2 Focus on Sustainability
With a medium geographic relevance and weak influence on the category, the focus on sustainability is being pushed by regulatory authorities and industry bodies to foster practices that are environmentally friendly.
4.3 Impact of Covid-19
The Covid-19 pandemic brought about unprecedented challenges for the industry, affecting the supply chain and production lines, thereby impacting sales negatively.
5. Conclusion
As we navigate through a post-pandemic world, the apparel knitting industry stands resilient, adapting to new technologies and focusing on sustainable practices to forge a path forward. With a rich array of products and a plethora of companies both big and niche, the industry continues to be a significant player in the global market.
