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Current State of the Industry | ||
Market Size (industry trends) | ||
Market Forecast (5-year projection) | ||
Products/Services Breakdown | ||
Revenue per State | ||
Financial Metrics | ||
Salary & Compensation Statistics | ||
Public Company Information | ||
Key Private Companies | ||
Government Vendors | ||
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2024 U.S. Industry Statistics & Market Forecast - Apparel Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Apparel Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
Statistics | 2019 2020 2021 2022 2023 | |
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Market Size (Total Sales/Revenue) |
Order at top of page | |
Total Firms | ||
Total Employees | ||
Average Revenue Per Firm | ||
Average Employees Per Firm | ||
Average Revenue Per Employee |
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
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Market Forecast ($ millions) | ||||||
Projected Industry Growth Rate (%) |
Industry Insights
The apparel manufacturing industry has been navigating through a rapidly changing market environment and growing number of trends that are driving the industry in different directions. Here are some of the key trends that are affecting the apparel manufacturing industry:1. Sustainable production and eco-friendliness: Increasingly, consumers are demanding clothing produced in sustainable ways, using eco-friendly materials and processes that minimize water and energy usage. This has resulted in new innovations in material science and process engineering that allow clothing and accessories to be made with fewer resources.
2. Digitalization: The apparel manufacturing has modernized with digitization through the adoption of new software tools, automation, and 3D printing technology, which makes it possible to create and test new apparel designs much faster and more cost-effectively.
3. Fast fashion: With fast-fashion retailers like Zara and H&M, the apparel industry is following quick-to-market fashion lines. The trend enables companies to quickly turn around new designs based on consumer demand.
4. Personalization: Apparel brands and manufacturers are using data analytics to tailor products to individual tastes. The technology is used to customize sizing and fits to make an experience the most comfortable.
In conclusion, as trends are shifting, it’s essential for the apparel manufacturing industry to evolve to gain a competitive advantage. Adopting sustainable, efficient and innovative practices will ensure apparel businesses can remain cost-effective and meet the demands of the modern-day customer.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.Industry Average | Percent of Sales (Industry Benchmark) | |
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Total Revenue | Order at top of page |
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Operating Revenue | ||
Cost of Goods Sold | ||
Gross Profit | ||
Operating Expenses | ||
Pension, profit sharing plans, stock, annuity | ||
Repairs | ||
Rent paid on business property | ||
Charitable Contributions | ||
Depletion | ||
Domestic production activities deduction | ||
Advertising | ||
Compensation of officers | ||
Salaries and wages | ||
Employee benefit programs | ||
Taxes and Licenses | ||
Bad Debts | ||
Depreciation | ||
Amortization | ||
Other Operating Expenses | ||
Total Operating Expenses | ||
Operating Income | ||
Non-Operating Income | ||
EBIT (Earnings Before Interest and Taxes) | ||
Interest Expense | ||
Earnings Before Taxes | ||
Income Tax | ||
Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Apparel Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.Profitability & Valuation Ratios | Industry Average |
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Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Apparel Manufacturing industry is performing. | |
Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Apparel Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
Liquidity Ratios | Industry Average |
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Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
Efficiency Ratios - Key Performance Indicators | Industry Average |
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Measure how quickly products and services sell, and effectively collections policies are implemented. | |
Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
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Management Occupations | 6% | Order at top of page |
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Chief Executives | 0% | |||
General and Operations Managers | 3% | |||
Arts, Design, Entertainment, Sports, and Media Occupations | 5% | |||
Art and Design Workers | 6% | |||
Designers | 5% | |||
Sales and Related Occupations | 6% | |||
Office and Administrative Support Occupations | 13% | |||
Installation, Maintenance, and Repair Occupations | 11% | |||
Other Installation, Maintenance, and Repair Occupations | 10% | |||
Industrial Machinery Installation, Repair, and Maintenance Workers | 10% | |||
Maintenance Workers, Machinery | 7% | |||
Production Occupations | 56% | |||
Textile, Apparel, and Furnishings Workers | 45% | |||
Sewing Machine Operators | 33% | |||
Sewing Machine Operators | 33% | |||
Textile Machine Setters, Operators, and Tenders | 23% | |||
Textile Knitting and Weaving Machine Setters, Operators, and Tenders | 21% | |||
Miscellaneous Textile, Apparel, and Furnishings Workers | 11% | |||
Textile, Apparel, and Furnishings Workers, All Other | 11% | |||
Other Production Occupations | 6% | |||
Inspectors, Testers, Sorters, Samplers, and Weighers | 7% | |||
Inspectors, Testers, Sorters, Samplers, and Weighers | 7% | |||
Transportation and Material Moving Occupations | 8% | |||
Material Moving Workers | 7% | |||
Laborers and Material Movers | 7% | |||
Packers and Packagers, Hand | 8% |
Apparel Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Apparel Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Apparel Manufacturing industry and adjacent sectors:Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Apparel Manufacturing industry. |
Source:
Innovation News
- Apr 18, 2024: Levi Strauss patents Fabric Response Characteristics For Laser Finishing
- Apr 18, 2024: Levi Strauss patents Updating Apparel Imagery Of An Existing Image
- Apr 18, 2024: Levi Strauss patents Apparel Design Tool With 3d Preview
- Jan 29, 2024: Sensual trademarks "CUDDLES & KISSES" - Pajamas
- Jan 26, 2024: Refrigiwear trademarks "AVASKA" - Balaclavas; Boots; Coats; Coveralls; Footwear; Gloves; Hats; Hoodies; Hoods; Overalls; Pants; Pullovers; Socks; Sweatshirts; Vests; Clothing jackets; Fleece jackets; Waterproof jackets and pants; Bib overalls
- Jan 26, 2024: Refrigiwear trademarks "A" - Industrial and commercial protective insulated clothing for protection against accident or injury
- Oct 27, 2023: TO Market/Survivor Made Goods raises $12 million in funding.
- Oct 11, 2023: Goose Holdings raises $8 million in funding.
- Nov 04, 2022: Alpha Source raises $25 million in funding.
Recent Federal Contracts for Apparel Manufacturing- Apr 02, 2024: FLORIDA ARMOR LLC (Miami Lakes, FL) awarded $10,724
- Apr 02, 2024: CENTRAL LAKE ARMOR EXPRESS, INC. (Central Lake, MI) awarded $54,359
- Apr 02, 2024: ARMORED GROUP LIMITED LIABILITY COMPANY THE (Phoenix, AZ) awarded $1,078,778
- Apr 02, 2024: DL STONE ENTERPRISES, LLC (Garden Ridge, TX) awarded $1,275
- Apr 02, 2024: MUNICIPAL EMERGENCY SERVICES, INC. (Sandy Hook, CT) awarded $48,400
- Apr 02, 2024: GOLDBELT SECURITY LLC (Chesapeake, VA) awarded $1,338,041
- Apr 02, 2024: FLORIDA ARMOR LLC (Miami Lakes, FL) awarded $10,724
- Apr 02, 2024: CENTRAL LAKE ARMOR EXPRESS, INC. (Central Lake, MI) awarded $54,359
- Apr 02, 2024: ARMORED GROUP LIMITED LIABILITY COMPANY THE (Phoenix, AZ) awarded $1,078,778
- Apr 02, 2024: DL STONE ENTERPRISES, LLC (Garden Ridge, TX) awarded $1,275
- Apr 02, 2024: MUNICIPAL EMERGENCY SERVICES, INC. (Sandy Hook, CT) awarded $48,400
- Apr 02, 2024: GOLDBELT SECURITY LLC (Chesapeake, VA) awarded $1,338,041
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