The value added of textiles, wearing apparel, and leather products in the US was forecasted to decline gradually from $25.41 billion in 2024 to $24.33 billion by 2028. This represents a consistent year-on-year decrease, with values moving from $25.41 billion in 2024 to $24.33 billion in 2028. When viewed from 2023's perspective, the trend indicates a slight contraction in the industry's value over this time frame. The compound annual growth rate (CAGR) over the period is negative, highlighting the ongoing reduction in industry size.
Future trends to watch include sustainability developments, which may drive growth in specific sub-segments, along with technological advancements in production and digital sales channels, which could offset some of the declines in traditional areas.
