Increase in demand for clothing & home furnishing Pushes APAC Textile Industry's Growth Further

By: Rachita Sharma, Managing Editor | Wednesday, 27 September 2023

Asia holds a key position in the global textile segment and accounts for a large majority of the total global garment production. According to data from Mordor Intelligence, the textile market size in Asia-Pacific is estimated at $381.47 billion in 2023. The industry is expected to grow at a CAGR of 2.25 percent between 2023 and 2028 to be worth $432.69 billion by 2028.

This growth spurt comes owing to an increase in demand for clothing and home furnishing products within the APAC region. There has been a surge in consumer spending on clothing, footwear, home furnishing etc post the pandemic.

However, challenges remain. APAC textile segment also has been negatively impacted due to supply chain issues caused during the pandemic. This also comes as an opportunity as players can build new alliances and work towards a new future of the industry. It is time now for textile players to envision how to turn the industry into having more resilience, sustainability, and build a human-centered future.

Handling these challenges and growth opportunities with aplomb are various visionary leaders. The current edition of Women Entrepreneur introduces you to few such names. On the cover of the magazine we have Mediha Hamitoglu serves as the CEO of Vasi Group, a dynamic and innovative company in the realm of manufacturing. With a steadfast commitment to sustainable practices and creative solutions, she has steered the Vasi Group towards becoming a leading force in the industry. Mediha's visionary leadership has been marked by a holistic approach, encapsulating both business growth and societal impact.

Under Mediha's leadership, Vasi Group has undergone a strategic transformation, redefining its operations to align with contemporary sustainability principles. This forward-thinking approach has not only enabled the company to navigate challenges but has also positioned it as a beacon of responsible and innovative business practices.

Joining Mediha is Sapna Kusumgar, Jt. Managing Director, Kusumgar Corporates. With 22+ years of experience in Indian textiles, Sapna excels in roles from operations to strategy. She is a catalyst for process excellence at Kusumgar Corporates, prioritizing people-driven growth. A life coach, a Philanthropist, passionate about outdoor adventures and spirituality,

Today, she stands as a testament to the potent synergy of diverse skills converging, propelling success within the dynamic realm of the textile industry.

Women such as Mediha and Sapna are at the forefront of creating a strong future for the Asian textile industry. Read more about them in the latest edition of Women Entrepreneur India.

Do let us know your thoughts.