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Global sales of knitted underwear and nightwear to reach $70.8 billion in 2015 |
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2011-3-23
According to the report recently released by Global Industry Analysis (GIA), global sales of knitting underwear and nightwear will reach US $70.8 billion in 2015. The "Business Strategy Report on Global Knitted Underwear and Nightwear " points out that changes in consumer lifestyles, increasing disposable income and innovation of textile fabrics have become important factors in supporting sales growth. Such products show great potential, its market demand is expected to maintain growth.
The report says that personal underclothing like seamless bra and panties will be the most prominent growth point of market sales in the next few years. Meanwhile, demand of XL underwear is increasing in Western markets. Overall consumers tend to impulse purchase of underwear rather than consider them as products of necessity.
The report shows that the development of personal underclothing depends on fabric design, innovation and comfort upgrade. In this area, although the U.S. and Asia Pacific markets show strong growth, Europe is still regarded as the largest market. In recent years, competition among international industries has led to lower prices and transfer of production center, more manufacturers have moved into South America, Central Europe and Asia. During the financial crisis, rapid economic growth in China, India, South Korea, Indonesia and China Taiwan saved the Asia Pacific market.
The report says that knitted underwear market possesses the features of high competition and dispersion. The financial crisis has narrowed the gap among various levels; the difference among markets has almost disappeared.
Source:chh
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