By 2030, China Will Catch Up With The United States And Become The World'S Largest Clothing Consumer Market.

In China, 68% of consumers are willing to pay higher prices for clothes rich in cotton.

76% of consumers are more loyal to natural fiber brands.

It's hard to predict the economy after 14 months, let alone 14 years later.

However, the current situation is clear: by 2030, China will surpass the United States and become the largest in the world.

The market is not far away from India.

Despite the slowdown in China's economic growth in recent years, Fung's global retail and technology report shows that consumers are optimistic about China's economy and have confidence in them. They are willing to buy more clothing, including

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Meanwhile, a global survey of Nielsen consumer confidence shows that India's consumer confidence index has increased by 3% over the previous quarter.

Nielsen India executive director RooseveltD Souza said, "the joint budget submitted by the Minister of finance at the end of February this year shows that the government is committed to embarking on financial consolidation to clear the way for sustainable domestic growth.

In the subsequent government statement, the macroeconomic indicators have improved significantly, and the government is striving to move towards low inflation, low interest rates and high GDP growth, which are beneficial to improving consumer spending.

These positive indicators are good news for garment manufacturers.

According to the report, GDP and clothing consumption in China and India is expected to quadruple over 15 years.

By 2030, China will become the largest clothing consumer market in the world, followed by the United States and India.

The survey shows that by 2030, China's GDP is expected to grow from 68 billion yuan to 144 billion yuan.

Meanwhile, India's GDP is expected to grow from 137 billion roubles in 2015 to 355 billion roubles.

By comparison, the world economic forum predicts that by 2030, global per capita GDP will grow by only 40%.

China's thriving economic situation may stem from the "one belt and one road" target.

It calls for substantial investment in regional trade routes.

In a recent McKinsey podcast, senior partner KevinSneader talked about what this goal is and its significance to China's regional economy.

"It is divided into two parts: the area and the road.

"Belt" is a material path that means roads leading to Europe and Northern Scandinavia.

China refers mainly to the ancient Silk Road, in other words, the waterway from China to Venice.

Therefore, the Chinese government has ambitious ambitions. This road covers at least 65% of the world's population, 1/3's GDP, and about 1/4 of global goods and services.

The target of 100 billion US dollars will help China once again exert its strength after the economic slowdown.

It needs great efforts, but it will bring huge opportunities.

The American consumers' survey of the international cotton association and the Cotton Corp of the United States found that although China's clothing market is widely dispersed, the whole market is shrinking.

In the past three years, the share of the top ten sportswear, jeans, tops and bottoms has increased.

This means that the existing and newly established brands must make greater efforts to tap the potential of Chinese consumers.

According to the international cotton association of the United States and the global lifestyle survey of the US Cotton Corp, in the past 15 years, with the development of the retail layout of major cities in India, consumers have shifted to stores, department stores and supermarket shops instead of fragmentary street markets and clothing stores.

The consumer survey conducted by the two organizations found that with the accelerated development of this trend, international brands flocked to India to seize the market from domestic brands.

In 2015, international brands accounted for 35% of men's wear and women's wear retail market.

According to the India consumer survey, nearly 3/4 of India consumers are more willing to buy cotton clothing.

73% of consumers said they were willing to wear cotton clothing for the rest of their lives.

In addition, 70% of India consumers said they were more willing to buy clothes made of sustainable fabrics.

79% of consumers said they were willing to spend their efforts in finding sustainable fabrics.

With more artificial fibers entering the India market, the promotion of natural fibers has intensified.

According to the China Consumers survey conducted by the international cotton association and the US Cotton Corp, 68% of consumers in China are willing to pay higher prices for cotton rich clothing.

76% of consumers are more loyal to natural fibers such as cotton.