Market Forecast By Product Type (Innerwear, T-Shirts & Shirts, Sweaters & Jackets, Sweatshirts & Hoodies, Shorts & Trousers, Evening Dresses, Suits, & Leggings, Accessories), By Material Type (Natural, Synthetic, Blended), By Applications (Outerwear, Innerwear, Sportswear, Others), By Consumer Group (Men, Women, Kids), By Distribution Channel (Online, Offline) And Competitive Landscape
Product Code: ETC039404 | Publication Date: Jan 2021 | Updated Date: Nov 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Mexico Knitwear market currently, in 2023, has witnessed an HHI of 2045, Which has increased slightly as compared to the HHI of 1852 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
This Mexico Knitwear Market report thoroughly covers the market By Product Type, By Material Type, By Applications, BY Consumer Group, and BY Distribution Channel. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Mexico knitwear market is experiencing steady growth, driven By a trend-conscious consumer base and the rise of athleisure. This report covers a range of categories including Innerwear, T-Shirts & Shirts, Sweaters & Jackets, Sweatshirts & Hoodies, Shorts & Trousers, Evening Dresses, Suits, & Leggings, Accessories and others, made up of Natural, Synthetic, Blended materials. As knitwear becomes crucial in Mexico's fashion growth, it emphasizes the importance of this sector in meeting the nation's evolving fashion needs, positioning knitwear as a vital element in Mexico's broader retail landscape.
According to 6Wresearch, the Mexico Knitwear Market revenue is projected to grow at a significant CAGR of 5.2% during the forecast period 2024-2030. The fashion-conscious consumer base in Mexico, paired with the global growing trend of athleisure, is driving the growth of the knitwear market. Technological advancements in fabric production, coupled with consumer preference for comfortable and versatile clothing, aids the growth of this industry. As consumers seek different styles and quality knitwear products, the demand increases across all types of knitwear. This trend underscores the critical role of continuous innovation in textile manufacturing to meet evolving customer needs and is further boosting Mexico Knitwear Market growth. Despite growth, the market faces challenges such as maintaining consistently high quality, providing diverse knitwear styles, and managing the complex operational and production costs. Additionally, concerns about environmental impact and the need for sustainable manufacturing methods might potentially affect market growth.
Booming Fashion Industry- As a hub of vibrant and diverse fashion, Mexicoโs retail sector, particularly fashion, is a significant consumer of knitwear products. The rise of athleisure and preference for comfort in clothing is driving the growth of knitwear.
Shift to Sustainable Materials- There is a growing preference for natural and sustainable materials in knitwear, especially among the conscious consumers. This trend reflects the push towards more eco-friendly and sustainable fashion.
Innovative Fabric Technologies- Automated knitting processes and precision textiles are gaining traction in Mexico. Investment in these technologies can help local companies produce complex and high-quality garments more efficiently, attracting customers from various demographics.
Sustainable Textile Production- With a focus on eco-friendly fashion, there is a solid investment case for producing knitwear using sustainable materials and processes. These practices help brands meet increasing consumer demand for sustainable clothing and align with global industry trends.
The Mexico knitwear market features several leading players, including Grupo Textil 2000, a prominent manufacturer known for its diverse range of knitwear products, and C&A, a well-established retailer offering stylish and affordable knit apparel. Another key player is Liverpool, a major department store chain that provides a variety of knitwear options from both local and international brands. Additionally, Zara, under the Inditex umbrella, is recognized for its fast-fashion approach, continuously updating its knitwear collections to reflect the latest trends. These companies are pivotal in shaping the market with their innovative designs and commitment to quality.
The Mexico government introduces regulations in the knitwear market focusing on environmental standards, worker safety, and quality control. Environmental laws aim to reduce emissions and waste, requiring companies to adopt eco-friendly processes and efficient energy use. Worker safety standards are enforced to ensure safe handling of machinery, protective gear, and risk mitigation in high-temperature environments. Additionally, quality control regulations mandate rigorous testing and certification, especially for parts used in critical industries like automotive and aerospace.
The future of Mexico knitwear industry looks promising, driven By increasing demand in the retail sector and the rise in athleisure trend. Automation and precision in textile manufacturing are expected to improve efficiency, making Mexico a competitive player in the global market. Additionally, increased investment in sustainable practices and local supply chain development will support long-term growth. Overall, Mexico's knitwear industry is poised for expansion, meeting the evolving needs of domestic and international clients through innovation and quality.
The report offers a comprehensive study of the subsequent market segments and their leading categories
According to Ravi Bhandari, Research Head, 6wresearch, T-shirts and shirts dominate as the leading product type, driven By their versatility, comfort, and widespread consumer appeal. These garments are staples in casual and formal wardrobes alike, making them a popular choice for a variety of occasions.
In the Mexico knitwear market, synthetic materials dominate due to their affordability, durability, and ease of care. Fabrics like polyester and nylon are favored for their versatility and ability to hold vibrant colors, making them popular choices for both casual and fashion-forward knitwear.
In the Mexico knitwear market, outerwear is the dominant application segment, driven By a strong demand for stylish and comfortable garments such as sweaters, cardigans, and jackets. Consumers increasingly prioritize fashionable outerwear that offers both warmth and versatility, making it suitable for various occasions.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Mexico Knitwear Market Overview |
3.1 Mexico Country Macro Economic Indicators |
3.2 Mexico Knitwear Market Revenues & Volume, 2020 & 2030F |
3.3 Mexico Knitwear Market - Industry Life Cycle |
3.4 Mexico Knitwear Market - Porter's Five Forces |
3.5 Mexico Knitwear Market Revenues & Volume Share, By Product Type, 2020 & 2030F |
3.6 Mexico Knitwear Market Revenues & Volume Share, By Material Type, 2020 & 2030F |
3.7 Mexico Knitwear Market Revenues & Volume Share, By Applications, 2020 & 2030F |
3.8 Mexico Knitwear Market Revenues & Volume Share, By Consumer Group, 2020 & 2030F |
3.9 Mexico Knitwear Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
4 Mexico Knitwear Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Mexico Knitwear Market Trends |
6 Mexico Knitwear Market, By Types |
6.1 Mexico Knitwear Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 Mexico Knitwear Market Revenues & Volume, By Product Type, 2020 - 2030F |
6.1.3 Mexico Knitwear Market Revenues & Volume, By Innerwear, 2020 - 2030F |
6.1.4 Mexico Knitwear Market Revenues & Volume, By T-Shirts & Shirts, 2020 - 2030F |
6.1.5 Mexico Knitwear Market Revenues & Volume, By Sweaters & Jackets, 2020 - 2030F |
6.1.6 Mexico Knitwear Market Revenues & Volume, By Sweatshirts & Hoodies, 2020 - 2030F |
6.1.7 Mexico Knitwear Market Revenues & Volume, By Shorts & Trousers, 2020 - 2030F |
6.1.8 Mexico Knitwear Market Revenues & Volume, By Evening Dresses, Suits, & Leggings, 2020 - 2030F |
6.2 Mexico Knitwear Market, By Material Type |
6.2.1 Overview and Analysis |
6.2.2 Mexico Knitwear Market Revenues & Volume, By Natural, 2020 - 2030F |
6.2.3 Mexico Knitwear Market Revenues & Volume, By Synthetic, 2020 - 2030F |
6.2.4 Mexico Knitwear Market Revenues & Volume, By Blended, 2020 - 2030F |
6.3 Mexico Knitwear Market, By Applications |
6.3.1 Overview and Analysis |
6.3.2 Mexico Knitwear Market Revenues & Volume, By Outerwear, 2020 - 2030F |
6.3.3 Mexico Knitwear Market Revenues & Volume, By Innerwear, 2020 - 2030F |
6.3.4 Mexico Knitwear Market Revenues & Volume, By Sportswear, 2020 - 2030F |
6.3.5 Mexico Knitwear Market Revenues & Volume, By Others, 2020 - 2030F |
6.4 Mexico Knitwear Market, By Consumer Group |
6.4.1 Overview and Analysis |
6.4.2 Mexico Knitwear Market Revenues & Volume, By Men, 2020 - 2030F |
6.4.3 Mexico Knitwear Market Revenues & Volume, By Women, 2020 - 2030F |
6.4.4 Mexico Knitwear Market Revenues & Volume, By Kids, 2020 - 2030F |
6.5 Mexico Knitwear Market, By Distribution Channel |
6.5.1 Overview and Analysis |
6.5.2 Mexico Knitwear Market Revenues & Volume, By Online, 2020 - 2030F |
6.5.3 Mexico Knitwear Market Revenues & Volume, By Offline, 2020 - 2030F |
7 Mexico Knitwear Market Import-Export Trade Statistics |
7.1 Mexico Knitwear Market Export to Major Countries |
7.2 Mexico Knitwear Market Imports from Major Countries |
8 Mexico Knitwear Market Key Performance Indicators |
9 Mexico Knitwear Market - Opportunity Assessment |
9.1 Mexico Knitwear Market Opportunity Assessment, By Product Type, 2020 & 2030F |
9.2 Mexico Knitwear Market Opportunity Assessment, By Material Type, 2020 & 2030F |
9.3 Mexico Knitwear Market Opportunity Assessment, By Applications, 2020 & 2030F |
9.4 Mexico Knitwear Market Opportunity Assessment, By Consumer Group, 2020 & 2030F |
9.5 Mexico Knitwear Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
10 Mexico Knitwear Market - Competitive Landscape |
10.1 Mexico Knitwear Market Revenue Share, By Companies, 2023 |
10.2 Mexico Knitwear Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |