The Market Analysis of Textile Industry in India

The textile industry in India is a significant contributor to the country's economy, with a vast and diverse range of products and applications. 

The textile industry in India is one of the largest in the world, with a market size projected to reach $350 billion by 2030, growing at a compound annual growth rate (CAGR) of 10%. The textile industry market size in India is approximately $240.8 billion in 2024. 

The industry is expected to double in size by 2030, driven by long-term positive outlook for the Indian economy and a strong focus on emerging areas like technical textiles, home furnishing, specialized fabrics, and fashion apparels.

Textile Market Key Players in India

The top leading textile companies in India are:

Arvind Limited

• One of the largest textile companies in India, founded in 1931 and headquartered in Ahmedabad, Gujarat
• Offers a wide range of products including woven items, advanced materials, knits, retail and more
• Known for owning and being associated with famous brands like Flying Machine, Arrow and Tommy Hilfiger

Vardhman Textiles Ltd.

• Headquartered in Ludhiana, Punjab, founded in 1965

• Specializes in manufacturing high-quality yarns, fabrics, and sewing threads

• Exports to over 65 countries worldwide

Welspun India Ltd.

• Known for its commitment to sustainability and high-quality home textile products

• Offers a wide range of bed and bath products, rugs, carpets, and upholstery fabrics

• Focus on eco-friendly manufacturing processes and innovative designs

Reliance Industries Limited (Textiles)

• Diversified conglomerate with a significant presence in the textile industry

Aditya Birla Group (Textiles)

• Conglomerate with a major textile division, including Grasim Industries which is a leading viscose rayon fibre producer

Raymond Ltd.

• Established in 1925, provides a wide range of products like designer wear, denim, fabrics and garments

• Known as one of the most trusted and loved brands in India

These companies have state-of-the-art manufacturing facilities, innovative products, strong distribution networks, and a focus on sustainability, making them key players in the rapidly growing Indian textile market. 

Market Segmentation of Textile Sector

Market segmentation is a crucial strategy in the textile industry, allowing businesses to adapt to changing market conditions and cater to the specific needs and preferences of different consumer groups. 

1. Demographics: This includes variables such as age, gender, geographic location, income level, occupation, education, and marital status. For instance, a fashion brand may target young, middle-income women, while another may focus on middle-aged men with higher incomes.

2. Psychographics: This focuses on consumer characteristics and attitudes, including values, interests, lifestyle, and personality. This dimension allows businesses to understand what motivates consumers, what they are passionate about, and how they relate to fashion. For example, a segment might include consumers passionate about sustainability, ethical fashion, or innovation.

3. Buying Behavior: Understanding how consumers relate to clothing and make purchasing decisions is essential. Parameters include purchase frequency, product lifecycle, brand loyalty, and price sensitivity. For example, some consumers may be impulse buyers, while others may focus on durability and value for money.

4. Geography and Climate: Consumer needs and preferences can vary depending on the region, season, and weather conditions. For instance, an SME in a warm climate area must offer lightweight, summery garments, while a company in a region with cold winters should focus on coats and winter clothing.

5. Technology and Buying Channels: Technology has revolutionized the way consumers purchase clothing. Segmentation should also consider consumer preferences for specific buying channels, such as physical stores, e-commerce, mobile apps, or social media. The adoption of technology, online presence, and online/offline shopping preferences are factors to consider when defining market segments.

A look into Cotton and Jute Production in India

India is the world's largest producer of cotton, accounting for 23% of global production, and the second-largest consumer of cotton globally. The country is also a significant producer of jute, with 39% of the world's area under jute cultivation. Cotton plays a major role in sustaining the livelihood of an estimated 6.5 million cotton farmers and 40-50 million people engaged in related activities.

Silk Production in India

India is the second-largest producer of silk in the world, with 95% of the world's hand-woven fabric coming from the country. The production of Eri and Muga silks increased by 6% and 6.7% respectively during 2021-22. To know more about the silk textile industry in India, visit market research firms for in depth knowledge.

What is the Technical Textiles Condition in India?

India is the 5th largest producer of technical textiles in the world, with a market size of nearly $22 billion. The country aims to increase this to $300 billion by 2047. Technical textiles are used in various industrial applications, such as medical, automotive, and construction materials.

India Textile Exports Statistics

India's textile exports were highest ever in FY 2021-22, crossing $44 billion. The country has a 4% share of the global trade in textiles and apparel, with a share of 10.33% in the overall export basket of India during 2021-22. India's exports of technical textile products grew from $2.21 billion in 2020-21 to $2.85 billion in 2021-22, registering a growth rate of 28.4% (YoY).

Conclusion

The textile market in India is a significant contributor to the country's economy, with a vast and diverse range of products and applications. The industry is expected to continue to grow at a rapid pace, driven by increasing demand, government initiatives, and a strong focus on emerging areas. 

To stay ahead read market research reports from market research firms like Ken Research, they provide detailed market research reports in various industries.