The apparel and leather products market comprises of sales of apparel and leather products by countless entities (organizations, sole traders and partnerships) that generate apparel, leather and linked products. Apparel producers cut and sew (i.e., purchase fabric and cut and sew to generate a garment) and/or introduce garments by first knitting fabric and then cutting and sewing the fabric into a garment. The apparel manufacturing industry comprises entities manufacturing full lines of ready-to-wear apparel and custom apparel: apparel contractors, functioning cutting or sewing operations on materials owned by several others; jobbers, performing entrepreneurial functions comprises in apparel manufacturing; tailors, manufacturing custom garments for single clients; and entities that amalgamate the knitting with production of complete garments, but exclusive of producers of knitting fabric not combined with the generation of complete garments. Leather and allied product producers transmute hides into leather by tanning or curing and fabricating the leather into products for complete consumption, and/or generate the similar products from other materials, comprising products (except apparel) made from “leather substitutes such as rubber, plastics, or textiles. Rubber footwear, textile luggage, and plastics rewards or wallets are examples of “leather substitute” products comprised in this market.
According to the report analysis, ‘Apparel And Leather Products Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that NIKE Inc; Christian Dior SE; H&M AB; Adidas AG; VF Corp and many others are the great companies which presently functioning in apparel and leather products global market efficiently for leading the highest market growth and registering the great value of market share during the inflowing years while establishing the several research and development programs, employing the young work force, implementing the policies and strategies of enlargements and profit making, spreading the awareness connected to the applications of such, advancing the qualitative as well as quantitative measures of such, delivering the better consumer satisfaction, analysing the strategies of competitors as well as government and decreasing the linked prices.
Meanwhile, the rash of the Coronavirus disease (COVID-19) acted as a massive restraint on the apparel and leather products market in 2020 as supply chains were interrupted due to trade restrictions and consumption declined owing to lockdowns imposed by legal authorities globally. COVID 19 is an infectious disease with flu-like symptoms counting fever, cough, and struggle in breathing. The virus was first recognized in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread universally including Western Europe, North America and Asia. Steps by national governments to encompass the transmission have bring about in halting of manufacturing activities and a decline in pecuniary activity with countries entering a state of lockdown and the outbreak is expected to remain to have a negative impact on businesses throughout 2020 and into 2021. However, it is probable that the apparel and leather products market will improve from the shock across the forecast period as it is a ‘black swan’ event and not interrelated to ongoing or fundamental faintness in the market or the global economy.
The apparel industry has been renovating labor intensive manufacturing conveniences into automated production facilities. This has allowed the textile manufacturers to introduce at a lower cost. According to a report by Boston Consulting Group (BCG) during 2015, 1.2 million industrial robots are projected to be deployed by 2025, thus indicating augment in automation and robotics technology adoption to advance the productivity and decrease production costs. For instance, Software Automation Inc. produced a new approach to sewing automation. The company is utilizing the advanced computer vision systems to eradicate fabric distortion issues where a camera is utilized to track stitching at the needle and coordinates the movement of the fabric optimizing the light weight robots.
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Ankur Gupta, Head Marketing & Communications