According to a new market report published by Credence Research Inc “T-Shirt Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023,” the global t-shirt market was valued at US$ 185.1 Bn in 2016. The market is further grow at a CAGR of 6.0% over the forecast period 2017 – 2025.
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The t-shirt market is expected to register significant growth with rising disposable income and rapidly shifting trend towards customized t-shirts. In addition, the advancements in technology have led to the introduction of advanced inkjet heads that are compatible with a variety of inks from different suppliers. In addition, fine embroideries with faster output rate have also been developed significantly. This development bodes well for the overall market growth. The industry has been aligning its research and development activities taking into account dynamic nature of fashion trends demanding shorter production cycles and high quality prints. These are the major factors driving the demand for t-shirts in the global market.
In terms of material, the cotton segment led the global t-shirt market in the base year 2016. The segment accounted more than half of the global T-shirt market revenue in the same year. Cotton is the most common and preferred fabric for t-shirts as they are ideal for everyday wear. A variety of cotton with different properties is used for making apparels. However, other materials such as linen, lycra, polyester, rayon and blends of two or three materials are also used for manufacturing t-shirts. Each material poses’ a unique quality and can be used according to the activity and different climatic conditions. T-shirts made from lycra and polyester are generally used for athletic apparels, while cotton and linen t-shirts are preferred for daily casual wear. In addition, different blends such as cotton and linen, cotton and polyester and blends of rayon are often used to exploit the merits of different material leaving their shortcomings. The blends are preferred for t-shirt manufacturing and hence are expected to demonstrate a significant growth throughout the forecast period.
Based on ink type used for t-shirt printing, the t-shirt market is classified into dyes ink, sublimation ink, pigment ink and others (plastisol, water based etc). The others segment dominated the global printed T-shirt market in the base year 2016. The trend shall prolong and the segment is presumed to witness steady growth on account of perpetually growing demand for the custom T-shirts printing. In addition, with the emergence of advanced alternative techniques such as sublimation printing along with their cost-effectiveness is proving as a major driving factor for the custom t-shirt printing and the dyes and inks involved in printing the t-shirts.
As of 2016, non-customized was the most popular type segment in the global t-shirt market. The segment accounted for more than 90% of the global revenue in the same year. The fashion trends and changing attitude of people towards new types of apparels have significantly boosted the demand for a variety of t-shirts including customized t-shirts and general t-shirts. Being a leisure and casual apparel, the popularity of a variety of t-shirts has increased significantly in the past few decades. Involvement of t-shirts for brand promotion and self-expression has aided the customized t-shirt industry to flourish. In addition, latest printing technology and advanced machines capable of creating flawless embroidery are also helped the overall t-shirt industry to flourish and the trend is expected to continue throughout the forecast period.
The overall t-shirt market comprises large number of international as well as local players across the world, making the overall market highly fragmented in nature. Additionally, due to presence of high number of vendors in the market, the overall market has emerged highly competitive in nature over the period of time. Due to varying consumer trends across the regions, companies emphasize on implementing region specific strategies so as to attract and expand larger consumer base.
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