Market Trends of Italy Textile Manufacturing Industry
This section covers the major market trends shaping the Italy Textile Manufacturing Market according to our research experts:
Decreasing Consumption Expenditure on Textile
The purchase of luxury goods and premium apparel highly depends on the disposable income of consumers. In the past five years from 2021, gross household adjusted disposable income per capita in Italy is playing in the range of USD 30,000 to 32,000. Most of the textile manufacturing companies in Italy are facing negative year-on-year growth over the past few years. The cotton consumption in Italy decreased from 210 thousand bales in 2014 to 135 bales in 2021. The consumption expenditure on textiles was at its highest peak in 2014. Then continuous negative year-on-year growth was observed from 2014 to 2020. The expenditure decreased from EUR 1,423 million in 2014 to EUR 1,140 million in 2020. This negative growth in consumption expenditure impacts negatively on the growth of the Italy Textile Manufacturing market.
Growing Ecommerce Sale of Apparel
The urban population in Italy is adopting emerging fashion trends very rapidly. The adoption of global fashion trends has been noticed in the past few years in urban areas of Italy. Consumers' inclination toward online shopping for apparel is increasing day by day. The internet penetration in Italy is increasing rapidly. According to Statista, internet penetration in Italy elevated from 61.38% in 2016 to 73.82% in 2021 and is expected to reach around 80% during the forecast period. The share of consumers who purchased fashion or sports goods online has grown from 12% in 2014 to 21% in 2019. The growth rate in e-commerce apparel purchases in Italy was steady during this period from 2014 to 2019, whereases other European countries experienced fluctuating growth rates. Due to the shift in buying behavior of the consumer, brands need to provide online stores. Many major players in the market are providing and working on improvement of the online authorized brand store to cater to the emerging needs of the consumer. For instance, In January 2022, Italy's Yoox Net-A-Porter launched a new marketplace in Europe. Yoox Net-A-Porter is an Italian online.
