By Jaqueline Quesada / Translated by Samai Páez

The textile industry in Latin America is in a stage of growth, driven by a series of factors that position the country as a key player in the global market. According to a recent report by Mordor Intelligence, the market is expected to be worth $44.18 billion by 2029, with a compound annual growth rate of 4.67% over the 2024-2029 period.

This growth is attributed to various factors, among which the growing domestic demand in the region stands out, driven by the increase in purchasing power and a greater influence of global fashion trends. The rise of retail, both physical and online, plays a fundamental role in this panorama. Countries such as Brazil, Mexico, Colombia and Peru stand out for their potential in the production and exportation of textiles. In particular, Peru consolidates itself as the largest exporter of clothing in South America, thanks to its unique raw materials, such as alpaca fiber and Tangüis cotton.

Another key factor is the increase in organic cotton production in the region. With a growth of 27% during the 2018-2019 period, Latin America proofs its commitment to sustainability and the generation of products with added value. While the COVID-19 pandemic impacted global supply chains, the Latin American textile market shows a clear recovery. The situation is expected to normalize in the coming years, albeit at a gradual pace.

Another key factor is the increase in organic cotton production in the region. With a growth of 27% during the 2018-2019 period, Latin America proofs its commitment to sustainability and the generation of products with added value. While the COVID-19 pandemic impacted global supply chains, the Latin American textile market shows a clear recovery. The situation is expected to normalize in the coming years, albeit at a gradual pace.

Source:

Mordor Intelligence Research & Advisory. (september, 2023.) Tamaño del mercado textil latinoamericano y análisis de participación tendencias de crecimiento y pronósticos (2024-2029). Mordor Intelligence. Recuperado el 11 de noviembre de 2024 de https://www.mordorintelligence.com/es/industry-reports/latin-america-textile-industry