Market Trends of Malaysia Textile Manufacturing Industry
The Evolving Apparel Industry Driving the Textile Market
Malaysia's past, notably the historical blending of Malay, Chinese, Indian, and other indigenous cultures, significantly impacted fashion. However, with Muslims making up 61.3% of the population, modest fashion is undoubtedly at the top of the list. Muslim women in Malaysia do not hold back when spending money on designer clothing. Modern clothing companies like Tangsi Tujuh and Anaabu have been enhancing the practicality of traditional Malay clothing while maintaining its Asian heritage throughout the past year.
Rising female labor participation and incomes are leading to women's increased empowerment and financial independence. They will likely use modern fashion to express themselves and feel good about themselves. Many Malaysian fashion designers have confidence in this potential. As a result, Malaysia is increasingly seen as a thriving emergent fashion capital.
Malaysia's population between the age of 25-29 years has been steadily on the rise over the past few years and is expected to follow the same trend in the forecast period. Due to this group's inclination towards fast fashion, the apparel industry will see a surge in demand in the forecast period. This increased demand for apparel will drive the Malaysian textile manufacturing market in the forecast period.
Steadily Increasing Textile Exports Driving the Manuafcturing Market
Except for the drop during the COVID-19 lockdown restrictions, the textile manufacturing industry in Malaysia is constantly rising. It is the eleventh largest earner among all industries exporting from Malaysia. When Malaysia implemented Export Oriented Industrialisation, along with a few other industries, textile industries were also in focus. As a result, the industry has seen sustained growth over the years. There has also been a rise in textile exports in the country.
This upward trend in textile exports from Malaysia is created by the increasing global demand for high-quality clothing and textiles from Malaysia. The rise in the purchasing power of the major importing countries like the US, EU countries, and Canada is another reason for the growth. Malaysia exports its textile products to a few major countries, including the US, Japan, Turkey, China, and Indonesia.
Malaysia’s export industries. The textile industry, along with a few other industries, was a priority when Malaysia pursued Export Oriented Industrialization. As a result, the industry has experienced consistent expansion over time. In addition, the country’s textile exports have increased. The increasing global demand for high-quality clothes and textiles from Malaysia is driving this upward trend in textile exports from Malaysia.
Malaysian textiles are only exported to a few countries. Most of the product is shipped to the USA, which accounts for USD 421.94 million (13%), followed by Japan, which accounts for USD 309.3 million (9.53%), and Turkey, which accounts for USD 309.22 million (9.53%).
