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Textile Market: Global Trends, Analysis And Forecast To 2023

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Updated on Sep 3, 2020

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The global textile market is expected to decline from $673.9 billion in 2019 to $655.2 billion in 2020 at a compound annual growth rate of -2.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $795.4 billion in 2023.
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