Forecast: Textiles, Wearing Apparel, Leather Products Manufacturing Output in the US

The US textiles, wearing apparel, and leather products manufacturing output stood at $74.73 billion in 2023. From 2021 to 2023, the year-on-year variations were relatively stable, with slight fluctuations around the $74 billion mark, showing a growth of 16.96% in 2021 followed by a negligible dip in 2022 and a minimal rise in 2023. Over the last five years (2018-2023), the compound annual growth rate (CAGR) has been positive at around 1.99%, a significant recovery from the negative trends observed prior to 2021.

Future forecasts from 2024 to 2028 suggest a stable trend with marginal growth, projecting the output to reach approximately $74.81 billion by 2028, reflecting an average annual growth rate of 0.02% over the forecast period.

Trends to watch for:

• Technological advancements in manufacturing processes that could drive efficiency and reduce costs.
• Increasing consumer demand for sustainable and ethically-produced apparel and leather products.
• Geopolitical impacts on trade policies and their effects on supply chain dynamics.