Company Clothing Magazine

Clothing market demand in Asia and Oceania is forecast to grow by an average of 10.9 percent per annum between 2009 and 2014, according to a report by Textiles Intelligence. As a result, demand will be worth US$267 billion by the end of the five-year period compared with US$159 billion at the beginning.

Within the region, growth in China alone is set to average 18.9 percent per annum, with market demand in China reaching US$87 billion by 2014 compared with US$37 billion in 2009. This represents an increase in market size of US$50 billion in absolute terms, which equates to almost half the increase in the region as a whole.

Other fast growing markets include Indonesia, where clothing market demand is forecast to grow by 15.3 percent per annum between 2009 and 2014, and Vietnam, where an increase of 15.5 percent per annum is predicted. However, these markets, valued at US$12 billion and US$22 billion respectively, will remain smaller than the market in China.

Elsewhere in Asia, there will be strong growth in India, at 16.8 percent per annum. However, at US$11 billion, clothing market demand in India will remain considerably smaller than China.

The slowest growth in the region will be in Japan, at just 2.9 percent per annum, followed by Hong Kong at 4.5 percent per annum. In Australia, on the other hand, growth will be a somewhat brisker 6.1 percent per annum and in New Zealand 6.5 percent per annum.

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