Knitwear Market Report 2024 (Global Edition)

Global Knitwear Market Report 2024 Market Size Split by Type (Innerwear, T-Shirts & Shirts, Sweaters & Jackets, Sweatshirts & Hoodies, Shorts & Trousers, Evening Dresses/Suits & Leggings, Other Access...

Knitwear Market Report Description

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Competitive Landscape of the Knitwear Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Top Companies Market Share in Knitwear Industry: (In no particular order of Rank)

• Chanel
• Dior
• Prada
• Adidas
• Carhartt
• Champion
• Fox
• Gildan
• Hanes
• Hollister
• Nike
• Louis Vuitton
• Burberry
• Pierre Cardin
• UA
• Zara
• PUMA
• Lining
• 361°
• Uniqlo
• H&M
• Confidential Data
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• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Knitwear Market

Which Region will dominate the Knitwear Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The growing popularity of athleisure wear, rising disposable incomes, and the need for comfortable yet fashionable clothes are all driving growth in the knitwear market in North America. The area also gains from having a significant internet retail presence, which makes various knitwear products easily accessible and convenient. The market's growth in North America is further aided by innovation and changing consumer tastes.

Which Region is Expanding at the Fastest CAGR?

The European region is witnessing an increase in the sales of reagents. The growing need for stylish yet comfortable clothes, rising disposable incomes, and adaptability to a wide range of consumer needs drive growth in the European knitwear market. The growth of the business is further aided by the region's emphasis on sustainable fashion practices and the presence of well-known fashion houses. Knitwear is becoming more and more accessible and popular thanks to online retail platforms.

The current report Scope analyzes Knitwear Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Knitwear Market

According to Cognitive Market Research, the global Knitwear market size was estimated at USD 645215.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 258086.08  million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031. North America's knitwear business is booming thanks to reasons like rising disposable incomes, shifting design tastes, and the appeal of athletic clothing. Men's knitwear is one prominent market sector propelling growth; it offers a wide variety of styles, from traditional sweaters to contemporary cardigans, meeting changing fashion trends. The region's knitwear industry is growing as a result of the widespread use of online retail platforms that improve accessibility and convenience. This gives consumers access to a wide range of fashionable and comfortable clothing options that can be tailored to their preferences and lifestyle requirements.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Knitwear market with a market size of USD 203629.92 million in 2024 and is projected to grow at a CAGR of 11.5% during the forecast period. The demand is amplified by the nation's fashion retail. 
• The Canada Knitwear market had a market share of USD 30970.33 million in 2024 and is projected to grow at a CAGR of 12.5% during the forecast period. Canada's rising sustainable fashion movement.
• The Mexico Knitwear market is projected to witness growth at a CAGR of 12.2% during the forecast period with a market size of USD 23485.83 million in 2024.

 

Europe Knitwear Market

According to Cognitive Market Research, with a market value of USD 645215.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031. Europe's knitwear market is expanding significantly due to a number of factors, such as the region's emphasis on sustainable fashion practices, rising disposable incomes, and consumers' growing taste for stylish yet comfortable clothes. Natural knitwear, which uses materials like wool, cotton, and bamboo to create cozy and environmentally friendly clothing, is a prominent market sector propelling this expansion. Europe's knitwear market is growing, offering consumers a range of sustainable options to suit their evolving fashion tastes and trends. It is supported by well-known fashion houses and a robust online retail presence.

• The United Kingdom Knitwear market had a market share of USD 32518.85 million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period. In the UK, Knitwear sales witness an upswing due to the retail and e-commerce. 
• The France Knitwear market is projected to witness growth at a CAGR of 11.2% during the forecast period with a market size of USD 17807.94 million in 2024.
• According to Cognitive Market Research, the Germany Knitwear market size was valued at USD 38325.78 million in 2024 and is projected to grow at a CAGR of 12.2% during the forecast period. In Germany, Knitwear sales surge due to the nation's rising disposable income. 
• The Italy Knitwear market is projected to witness growth at a CAGR of 11.4% during the forecast period with a market size of USD 16646.55 million in 2024.
  • The Russia Knitwear market is projected to witness growth at a CAGR of 11.0% during the forecast period with a market size of USD 30002.51 million in 2024.
• The Spain Knitwear market is projected to witness growth at a CAGR of 11.1% during the forecast period with a market size of USD 15872.29 million in 2024.
• The Luxembourg Knitwear market is projected to witness growth at a CAGR of 12.1% during the forecast period with a market size of USD 6000.50 million in 2024.
• The Portugal Knitwear market is projected to witness growth at a CAGR of 11.8% during the forecast period with a market size of USD 4064.86 million in 2024.
• The Greece Knitwear market is projected to witness growth at a CAGR of 12.3% during the forecast period with a market size of USD 2322.77 million in 2024.
• Rest of Europe Knitwear market is projected to witness growth at a CAGR of 10.7% during the forecast period with a market size of USD 30002.51 million in 2024.

Asia Pacific Knitwear Market

According to Cognitive Market Research, the global Knitwear market size was estimated at USD 645215.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 148399.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.5% from 2024 to 2031. The knitwear market is expanding rapidly in the Asia Pacific area due to reasons like increased disposable incomes, urbanization, and growing consumer fashion consciousness. One significant market fueling this expansion is synthetic knitwear, which satisfies the wide range of tastes of the local population by providing affordability, durability, and design diversity. The knitwear market in Asia Pacific is growing at a remarkable rate, thanks to the spread of e-commerce platforms and the adoption of cutting-edge manufacturing techniques. This expansion offers consumers a wide choice of fashionable and comfortable options to fit their lifestyles and supports the region's economic development.

• According to Cognitive Market Research, the China Knitwear market size was valued at USD 66779.77 million in 2024 and is projected to grow at a CAGR of 15.0% during the forecast period. Knitwear sales surge in China due to the nation's rapid expansion in fashion consciousness.
• The Japan Knitwear market is projected to witness growth at a CAGR of 14.0% during the forecast period with a market size of USD 20479.13 million in 2024.
• The India Knitwear market had a market share of USD 17807.94 million in 2024 and is projected to grow at a CAGR of 17.3% during the forecast period. The demand is augmented by India's increasing quality and craftsmanship.
• The South Korea Knitwear market is projected to witness growth at a CAGR of 14.6% during the forecast period with a market size of USD 14839.95 million in 2024.
• The Australia Knitwear market is projected to witness growth at a CAGR of 15.2% during the forecast period with a market size of USD 7716.77 million in 2024.
• The South East Asia Knitwear market is projected to witness growth at a CAGR of 16.5% during the forecast period with a market size of USD 10239.57 million in 2024.
• The Rest of Asia Pacific Knitwear market is projected to witness growth at a CAGR of 15.3% during the forecast period with a market size of USD 10536.36 million in 2024.

South America Knitwear Market

According to Cognitive Market Research, the global Knitwear market size was estimated at USD 645215.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 32260.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.9% from 2024 to 2031. The knitwear industry in Latin America is expanding steadily thanks to a number of causes including the region's rich textile legacy, shifting customer preferences, and rising urbanization. Traditional knitwear, which integrates indigenous workmanship and cultural influences to offer distinctive and authentic items, is a noteworthy component driving this rise. In order to satisfy the demands of ecologically concerned consumers while maintaining its cultural identity, the knitwear market in Latin America is changing as sustainability and ethical fashion practices become more and more important. Latin America's burgeoning middle class and e-commerce presence, along with the region's dynamic and diverse market landscape, make it a viable hotspot for knitwear innovation and market expansion.

• According to Cognitive Market Research, the Brazil Knitwear market size was valued at USD 13807.61 million in 2024 and is projected to grow at a CAGR of 13.5% during the forecast period. Knitwear sales flourish in Brazil due to the nation's rising fashion consciousness.
• The Argentina Knitwear market had a market share of USD 5419.81 million in 2024 and is projected to grow at a CAGR of 13.8% during the forecast period. The demand is augmented by Argentina's commitment to seasonal demand.
• The Colombia Knitwear market is projected to witness growth at a CAGR of 12.7% during the forecast period with a market size of USD 2871.21 million in 2024.
• The Peru Knitwear market is projected to witness growth at a CAGR of 13.1% during the forecast period with a market size of USD 2645.38 million in 2024.
• The Chile Knitwear market is projected to witness growth at a CAGR of 13.2% during the forecast period with a market size of USD 2322.77 million in 2024.
• The Rest of Latin America Knitwear market is projected to witness growth at a CAGR of 12.0% during the forecast period with a market size of USD 5193.98 million in 2024.

 

Middle East and Africa Knitwear Market

According to Cognitive Market Research, the global Knitwear market size was estimated at USD 645215.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 12904.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031. The knitwear industry is expanding significantly throughout the Middle East and Africa as a result of factors like increased disposable incomes, growing urbanization, and an increase in the number of fashion-conscious people. Luxury knitwear, which caters to the region's wealthy clients and features premium materials, elaborate designs, and exclusive branding, is a major area driving this expansion. The Middle East and Africa knitwear industry offers chances for both local craftspeople and international brands, with a blend of traditional workmanship and modern fashion sensibility. Additionally, the growth of online shopping platforms and the expansion of luxury retail stores are driving the knitwear industry in this region, offering customers a wide selection of elegant and expensive options to suit their discriminating tastes.

• According to Cognitive Market Research, the GCC Countries Knitwear market size was valued at USD 5523.04 million in 2024 and is projected to grow at a CAGR of 14.0% during the forecast period. Knitwear sales flourish in the GCC Countries due to the region's strategic investments in cultural diversity.
• The Egypt Knitwear market is projected to witness growth at a CAGR of 13.5% during the forecast period with a market size of USD 1354.95 million in 2024.
• The South Africa Knitwear market is projected to witness growth at a CAGR of 14.2% during the forecast period with a market size of USD 2038.88 million in 2024. Knitwear sales flourish in the South Africa due to the region's strategic investments in cultural diversity.
• The Turkey Knitwear market is projected to witness growth at a CAGR of 12.7% during the forecast period with a market size of USD 1109.77 million in 2024.
• The Nigeria Knitwear market is projected to witness growth at a CAGR of 12.3% during the forecast period with a market size of USD 1354.95 million in 2024.
• The Rest of MEA Knitwear market is projected to witness growth at a CAGR of 12.2% during the forecast period with a market size of USD 1522.71 million in 2024.

Knitwear Market Analysis

Knitwear Market Type Segment Analysis

According to Cognitive Market Research, T-Shirts & Shirts held the major market share over the forecast period. Knitwear, indispensable in unraveling molecular intricacies, supports researchers in identifying potential drug candidates. The growing demand for comfortable and casual apparel, particularly in the athleisure trend, is propelling the expansion of the T-shirt and shirt sector within the knitwear market. These clothes are stylish and adaptable, meeting a range of customer preferences. Developing eco-friendly and sustainable materials is also accelerating the growth of this market segment in the knitwear industry.

Innerwear is the fastest-growing category over the forecast period. As customer preferences evolve toward more comfortable and breathable clothes, the knitwear market's innerwear category is expanding significantly. Customers are looking for innerwear that provides comfort and support as they emphasize health and wellness more. The development of this market is also being fueled by improvements in fabric technology and the availability of a large selection of styles and designs.

• Innerwear
• T-Shirts & Shirts
• Sweaters & Jackets
• Sweatshirts & Hoodies
• Shorts & Trousers
• Evening Dresses/Suits & Leggings
• Other Accessories (Cap/Scarves/Gloves/Socks/etc)

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Knitwear Industry. Request a Free Sample PDF!

Knitwear Market Material Type Segment Analysis

According to Cognitive Market Research, Natural Knitwear holds a prominent market share. The market for natural knitwear is expanding significantly as customers place a higher value on sustainability and environmental conscience when making wardrobe decisions. With clothes made from natural fibers like cotton, wool, and bamboo, this category provides eco-friendly clothing that is also cozy. Natural knitwear is still becoming more and more popular on the international market as people become more conscious of the effects of synthetic materials on the environment.

Synthetic Knitwear is the fastest-growing category over the forecast period. The popularity of synthetic knitwear is rising because of its affordability, durability, and design versatility. Thanks to developments in textile science, synthetic fibers with qualities similar to those of natural fibers—such as flexibility and moisture-wicking—can now be found in materials like polyester, nylon, and acrylic. Furthermore, synthetic knitwear's broad availability and ease of maintenance add to its growing appeal, especially in the fast-fashion and athleisure sectors.

• Natural
• Synthetic
• Blended

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Knitwear Application Segment Analysis

• Outerwear 
• Innerwear 
• Sportswear 
• Others 

Knitwear Consumer Group Segment Analysis

According to Cognitive Market Research, Men Knitwear held the major market share over the forecast period. The men's knitwear market is expanding rapidly due to changing consumer preferences for comfortable yet fashionable apparel and fashion trends. Men's knitwear comes in various styles to fit different tastes and events, from traditional sweaters to contemporary cardigans and pullovers. Furthermore, the proliferation of e-commerce platforms has improved accessibility and contributed to the continued growth of this industry.

Women's knitwear is the fastest-growing category over the forecast period. Due to several variables, such as shifting fashion tastes, rising disposable incomes, and knitwear's ability to combine comfort and style, the women's knitwear market is expanding significantly. Women's knitwear continues to appeal to various interests and preferences with a wide range of options, from warm sweaters to stylish cardigans, fueling its expansion in the global fashion market. 

• Men Knitwear 
• Women Knitwear 
• Kids Knitwear 

Knitwear Distribution Channel Segment Analysis

According to Cognitive Market Research, Online held the major market share over the forecast period. The convenience, accessibility, and growing digitalization of shopping are the main drivers of the online knitwear market's explosive rise. Online retailers serve a variety of consumer tastes by providing a large assortment of knitwear options. Furthermore, features like easy returns and personalized recommendations improve the online purchasing experience, which supports the global online knitwear market's ongoing growth.

Offline is the fastest-growing category over the forecast period. The offline knitwear sector is still thriving despite the expansion of internet retail, especially in areas with robust brick-and-mortar retail infrastructure. Customers may try on, feel, and touch knitwear items in physical stores, which improves the purchasing experience. Additionally, by encouraging client interaction and loyalty, in-store activities, promotions, and tailored help from sales representatives support the expansion of the offline knitwear industry

• Online 
• Offline 

Knitwear Price Category Segment Analysis

According to Cognitive Market Research, Low held the major market share over the forecast period. The growing demand from consumers who are careful of their budgets for reasonably priced clothing options drives growth in the low-cost knitwear sector. This market niche serves a variety of interests and preferences by providing a large selection of knitted products at affordable costs. Globalization and improvements in production techniques have made inexpensive knitwear more widely available, which has helped it grow in both domestic and foreign markets.

Medium is the fastest-growing category over the forecast period. The market for reasonably priced knitwear is expanding as buyers look for high-quality clothing at affordable costs. This market appeals to a broad spectrum of customers because it strikes a balance between quality and affordability. Mid-range knitwear, which emphasizes comfort, style, and durability, meets the demands of consumers seeking good value and is rapidly expanding worldwide.

• Low 
• Medium 
• High

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.

Author's Conclusion