The apparel knitting mills turnover in the US is forecasted to decline from $155.14 million in 2024 to $116.42 million by 2028. To contextualize, the turnover was higher in 2023, indicating a steady decline in the industry's financial performance. Year-on-year variations show a decline as follows: -6.43% from 2024 to 2025, -6.73% from 2025 to 2026, -7.08% from 2026 to 2027, and -7.46% from 2027 to 2028. The five-year compound annual growth rate (CAGR) reflects an average decrease of approximately -6.93% per annum over this period.
Future trends to watch for include:
- Potential shifts in consumer preferences towards sustainable and eco-friendly materials, which may create niche opportunities.
- Advancements in technology, such as automation and AI, that could drive cost efficiencies.
- Global trade dynamics and economic policies that could impact import competition and domestic manufacturing incentives.
