Revenues in the global apparel manufacturing industry are forecast to grow at an average annual rate of 3.5%, to $476.8bn from 2008 to 2013, according to forecasts from market research firm IBIS World.
Despite the world growth will still be low due to the current financial crisis, demand for basic clothing is likely to remain fairly constant.
IBIS World foresees more Chinese companies are planning to create heir own brand names and specialty stores in foreign markets.
In terms of sourcing, while leading supplier countries such as China and India will continue to increase their shares of world low-cost exports, developed countries such as the US will be forced to be more innovative in their production techniques and develop more efficient and productive equipment.
